Online gambling seems unaffected by the prevailing recession. A report from H2 Gambling Capital has revealed that the online gambling industry grew by 12.5% in 2010 with gross revenues of close to $29.95 billion.

H2 Gambling Capital found online bingo to be the fastest growing sector. Gross revenues for bingo sites grew an estimated 28.4% to $2.67 billion. This news should come as no surprise since bingo has become widely popular among women and the elderly who make up a large portion of the online gambling industry.

Online casinos were the second fastest growing sector. The casino sector grew an estimated 13.3% in 2010 and also brought in an estimated $2.67 billion.

The sector that brought in the most money for 2010 is of course the sports betting industry. The Football World Cup provided bookmakers with phenomenal growth in the early part of last year. It is estimated that betting on the Football World Cup alone was responsible for as much as 1.5% of the gambling industry's growth as a whole and gross revenue in the sector for the year was up to about $12.06 billion

Despite becoming increasingly more publicized, poker generated the slowest growth rate of all of the online gambling sectors. With a growth rate of just 7.1% its annual gross revenues totaled about $5.06 million. H2 Gambling Capital had even bleaker news for the sector, they said that if it wasn't for the recently opened French and Italian online poker markets, Poker revenues would have actually fallen this year.

This past year 160 sites left the online gambling market and intensifying competition is expected to push even more sites out of the market before the end of 2011. H2 Gambling Capital predicts continued low double digit growth for the industry this year but the final results and predictions will not be released until April.

As always, stay tuned to Casinofan for more news and updates.

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