Betfair Goes Public with Stock
If you had any doubts to how large gambling online is becoming, then consider the changes going on at online casino Betfair.com. The casino just went public with its stocks and the current estimate for that one company’s revenue is $2.3 billion. That is a huge number for one internet gambling company to generate, but it is highly possible that it will happen. There are many gaming companies that are going public these days—it is a sign that they are here to stay and gaining serious mainstream notoriety. So far in the US Las Vegas Sands, Wynn Resorts and MGM Mirage have all worked their way onto the London Stock Exchange and brought in equally startling numbers to the market in value. This is a sign of just how lucrative online gambling is and how fast it is taking over the gambling market. There are billions of dollars at stake here and everyone if fighting hard for their piece of the pie.
This is a concern for land based casinos. They are fighting each other for the market with specials and bonuses that in previous times were unheard of. They know how much money is at stake and that if they don’t keep up, another company will easily grab their market shares and take over. The problem is that a lot of new casinos are being built throughout the nation. They are making stiff competition in the land based casino world. Add to that the online market now. The online market has something that land based gaming doesn’t – convenience. Imagine being able to log into your computer or laptop and wager from the privacy of your own home, deck, school or anywhere else where there is an open internet connection. It means that gamers are coming easily into the market. Plus online gaming companies are making online gambling as easy as possible with a few clicks needed to open and fund an account. This is why land based casino operators are worried- they know how good the internet market is and how lucrative it is. Competition is fierce among the online gambling world and only time is going to tell who ultimately wins out.
Tags: Betfair.com, invest, public, stocks
