Gambling Firms To Launch Casino, Bingo Mobile Phone Applications In 2009

London, England (AHN) - With casinos losing popularity as consumers tighten their belts, gambling firms are now setting their sights on mobile phones as the next profitable venture.

The consensus among participants to the 5th Annual Mobile Gambling Summit held in London last week was that income from poker, roulette, blackjack and other betting sports through handheld devices will rise in the next 12 months.

To make that happen, gambling firms in Britain are set to launch in 2009 casino and bingo mobile phone applications. One of them is Mfuse, a mobile gaming software developer.

According to Charles Palmer, co-founder of Mfuse, quoted by Bloomberg, "In the past year our clients have taken more than 100 million pounds in bets through mobile devices, which suggests the market is developing very quickly."

Five years ago a similar forecast was made, but did not materialize. Panelists at the conference explained the prediction will likely come to pass next year as a generation of tech-savvy youth reach 18, and could legally place bets through their cellular phones.

This development will likely redefine the gaming industry, which had been hit hard by the global economic slow down. In the U.S., casinos reported a third quarter income of $8.4 billion or 4.6 percent less compared to 2007 levels.

According to Frank Fahrenkopf Jr., president and chief executive of the American Gaming Association, small casino operators across the country will likely not survive the industry slump.