According to a new report of analyst firm Juniper Research mobile phone gambling became a booming industry which by 2010 will be worth nearly US$12bn (AUD$13.7bn) globally and that mobile gambling services will go up from just US$106m (AUD$121m) in 2007 to $3.2bn ($3.65bn) in 2012.
The report attributes the great prospect of the mobile phone gambling industry to the growing consumption of multiple mobile payment technologies. Also, one of the other reasons is the liberalization of remote gambling legislation in key markets.
In the mobile phone gambling industry, the most popular service is expected to be represented by the mobile lotteries. By the end of the estimated period, mobile lotteries are expected to have more than 380 million users worldwide.
Juniper Research also declared that the development would also be favored by market liberalization, for instance the UK's Gambling Act which came into law on 1 September, and by future adjustments to existing legislation elsewhere in Europe.
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