Wednesday, May 6, 2020

Study on Online Gambling Market - 4064 Words

Contents Executive Summary Introduction Market Definition Market Sectors Market Size PEST Analysis Porter Five Force Analysis Competitors Analysis Boston matrix Shareholders SWOT Analysis Conclusion Executive Summary For thousands of years, mankind has enjoyed spending money on games of chance. Today this has developed into a multi-billion dollar worldwide phenomenon- the gambling industry. While the total number of gambling enterprises has fallen in recent years the overall number of people employed in the industry has increases, suggesting that enterprises are now larger than they were a decade ago. The way people bet has been revolutionised of recent years with the online gambling industry taking over the†¦show more content†¦Political Political and legal factors are those controlled by ‘governments, local authorities, or other trade or activity orientated regulatory bodies (Brassington and Pettitt, 2000). Gambling legislation is put in place in order to prevent consumers been taken advantage and also help control consumers with gambling problems. The internet is open to great abuse in all areas of the internet and gambling is no exception. Within five minutes it is possible to be gambling on the internet at as high stakes as one desires, this obviously has its dangers. Companies have recently been pushed to be more responsible for caring for their customers. Some of the companies now have a system which its customers can use. The system offers the customer control of how much they can deposit in a designated time period, this helps the customers control their spending. Though this may affect profits for a company, it gives the impression that they care for their customers, which promotes their company. The law s for online gambling are reasonably relaxed and with it been a worldwide market that anyone from any country can access it is hard to control such a market. There have been recent worries about illegal gambling carried out on Betfair with trainers and owners regarding the running of a horse to lose. Many bets would be taken on the specific horse resultingShow MoreRelatedInquiring Into The Social Assignment1586 Words   |  7 Pageshybrid form. Gambling has always been seen as a chance to win more money at the expense of one’s wallet. Yet it is often that individuals are prone to losing more rather than gaining, which has affected many by sending them down spiral of financial, mental and physical loss. Evidence suggests the prevalence of problem gambling is higher for people aged 15 to 17 than for adults as a whole, and higher for people aged 18 to 30 than for other age groups (See Delfabbro 2012.) 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