|A new study by Juniper Research has suggested that profit generated by mobile betting will rocket in the next two years. This year the European market is expected to rake in $74.3 million, but, staggeringly, by 2006 revenue could be up to ten times that amount. Paul Skeldon, senior analyst at Juniper Research and author of the report, forecasts that growth will come from lottery enthusiasts and cites the popularity of the National Lottery in the UK as an important factor: 'Lotteries are very simple to do and are low cost. They keep coming out in our research as very popular.' This year online lotteries will generate £5bn across the UK alone, according to figures from the Betting Office Licensees Association.|
However, according to Mr. Skeldon businesses need to act now to for these projections to be fulfilled. The main challenge the industry faces, says Mr. Skeldon, is the regulation and implementation of services across the world. “Our assessment is that the services that are given a green light will generate good revenues (in certain regions), but these will be limited. Regulated lotteries and betting services will be the big winners'.