Forbes – It’s no secret the Internet has changed the way we do many things and those shifts have rippled through several business models forcing companies to adapt or be left behind…
As technology marches on, the scope of industries affected by the Internet continues to expand. Last week, online learning company 2U, Inc filed for an IPO of up to $100 million. The Landover, Maryland-based company provides cloud-based online learning platforms that help nonprofit colleges and universities in student enrollment, education, support and other services. Another example is how the pharmaceutical industry is embracing the Internet and Cloud computing to streamline R&D budgets while facing a high proportion of patent expirations between 2011 and 2014. That’s shift has been good for companies like Medidata Solutions.
There are several industries that have only just starting embracing the Internet, and one of them is the gambling and casino industry. On a global basis, online gaming or iGaming as it has been called has grown into a multi-billion dollar business, particularly in Europe. In the past online gaming used to mainly attract younger men, but that demographic group has expanded to include both women and older age groups. Since 2004, women’s share of Internet users between the ages of 16 and 74 in Europe has increased by more than 80%, while the same age group for men has seen an increase of 60%.
There have been fits and starts with online gaming here in the US in the past. After an initial surge Congress stepped in with new laws aimed at stopping online gaming. However, states have recently begun legalizing intrastate online gambling — Nevada, New Jersey and Delaware launched in 2013 and the states in which legalization legislation has been introduced continues to grow — California, Colorado, Hawaii, Illinois, Iowa, Louisiana, Massachusetts, Mississippi, and Pennsylvania.
