Online gambling has been on the rise in the US in recent years. This is unsurprising given the rise of digitalization across all industries. Furthermore, the sector has registered unprecedented growth thanks to the ability to wager from casino sites and mobile apps. Let’s deep dive into the US online gambling market size and share.
Market Trends
Migration from Offline to Online Gambling Activities
Reports suggest that most gamblers are moving to online casinos. The preference for online casinos is because of the numerous advantages it offers. For instance, players no longer have to worry about dressing up for the casino. They can comfortably enjoy their favorite casino games from the comfort of their homes.
Players also prefer online casinos because they allow them to try different casino games. As a result, studies have shown that players have expanded their online gambling activities. For example, they can play slots, table, and live dealer games.
More States are Embracing Internet Gambling
More states have introduced regulations that allow online gambling to grow. Experts argue that such moves have impacted the growth of online gambling in the US. For example, after the launch of internet gambling in the state of Pennsylvania, companies had to form partnerships to build the capacity to handle the rising demand for online casino platforms.
On the other hand, New Jersey is regarded as the largest market for regulated online gambling in the US. It has a market worth over 225 million USD annually. This has attracted many online casinos and poker rooms. It is not so in other states. For example, Texan gamblers are looking forward to online gambling laws in Texas to permit real money gambling in the state. Nonetheless, they can still wager on offshore online casinos and will not be persecuted.
Additionally, reports claim that Pennsylvania is the fastest-growing market. It is also the fourth and biggest state that has legalized and regulated online gambling. Its new laws permit online casinos, online poker, and sports betting. In addition, the Pennsylvania Gaming Control Board regulates casino gaming and sports betting, while the Pennsylvania Lottery regulates lotteries.
Live Casino Gaming Has Gained Momentum
The live casino market is still at an embryonic stage in the US mainly because of stringent regulations. But, renowned software providers Evolution and Ezugi gaming received licenses to offer live dealer games in New Jersey.
Consequently, global players have also invested heavily and entered the market. Additionally, Evolution Gaming has signed deals with several licensed operators like Casino Atlantic City to consolidate their offerings.
Market Segmentation
The online gambling market in the US is segmented by game type into sports betting, casino, and other types of games. It is also segmented by end-users into desktop and mobile. In this sense, sports betting enjoys the largest share of the market, followed by poker and lottery, respectively.
Regarding player demography, most online casino players are between 18 and 34. There is also a significant number of gamers below 18 years old. Moreover, a good number of players fall into the other age groups.
Sports betting is also the most popular form of online gambling. Moreover, football is the most preferred sport for many gamblers, followed closely by horse racing. On the other hand, eSports is also growing steadily as a sports betting option. In fact, industry experts argue that it will offer football and horse racing stiff competition in the coming days.
Final Thoughts
The stage is set for the gambling industry in the US to keep growing. More states are expected to develop regulations allowing online gambling within their borders. When this happens, the industry will continue to grow steadily.
