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John Anderson, the CEO of 888 Online Gambling Group, was reportedly pessimistic about the industry.
The world media reported the remarks after an interview with Anderson and the UK Financial Times over a week ago.
According to the reports Anderson believes that while the internet and land poker industry is growing at an amazing rate, he believes the online poker bubble will shortly burst. He stated that while the rate of user sign-ups is very high, these cannot be sustained.
According to the rates of sign up- which he said is exponential, Anderson claimed at their current rate no one in the world will be working and everyone will be playing online poker.
This statement, however, contradicts the CEO’s remarks from just a year ago. In September 2005 Andersons was somewhat less pessimistic in his public remarks – this is probably as a result of the company’s low share results at the time.
Apparently Anderson stated that the company didn’t rely on the US market and internet penetration remained low.
Not everyone in the industry is taking Anderson’s stance. Many agree that while there is a ceiling to exponential growth in the industry, there are still very real and healthy current growth rates. Simon Prodger, marketing director at PKR.com, a recent arrival in the internet poker world says on Anderson’s statements.
According to Prodger, most poker site’s ideas of development are to add blackjack to their list of options. This he explains doesn’t develop the user’s product. Prodger also believes their remains a huge untapped market of offline poker players.
According to Prodger and rumors, there exist around 100 million poker player potentials around the world. Currently only two percent of this has been tapped and play in any given month.
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