United States online betting and gaming industry continues to grow

United States online betting and gaming industry continues to grow

Last year, casino venues in the United States, along with casino hotels and resorts, hit a major set back due to the global pandemic.

Many properties were forced to close as authorities implemented measures to combat the spread of the deadly virus.

However, according to market anaylsis from Micro Small Cap, the online gaming industry in the country experienced a major boost and experts in the field suggest that the US online gambling industry may be worth more than $125 billion in the next six years.

In addition to overseeing growth and traffic increases for online betting and gaming last year, the boost to the digital market was in part down to the update of laws in America, that allowed many operators to expand their online operations or enter the market for the first time.

What is more is, this momentum, despite the return of some normality in local sports betting and gaming at casino venues, shows no signs of slowing down.

In light of this, other states in the country are considering joining others in their legalising of sports betting and some gaming activities online and mobile.

According to reports, higher volume of traffic and increased access to gaming platforms is being assisted by internet giant Google, whereby more players from more jurisdictions have access to online casino games, daily fantasy sports, regular sports betting and lottery products.

Company’s such as Bragg Gaming have already stated that it is diversifying its product offering in active jurisdictions around the world whilst focusing heavily on growing its share of the gaming market in the United States through business to business partnerships with operators and developers in the gaming industry.

Market growth and expansion

Reportedly, major gambling operators in America are now active in more states and are planning to expand their operations to meet increased demand, including Wynn Resorts, Flutter Entertainment and Las Vegas Sands.

Through the relaxing of gambling laws online and mobile in the United States, it is unlikely that the industry will return to what it once was. However, with increased traffic and revenue boosts for major gaming and betting corporations, the momentum shows no signs of slowing down as the year progresses.

According to reported data, despite the global health crisis, many operators such as Flutter Entertainment and Wynn Resorts boosted experienced product activity and increases in online revenue, which in turn offset the downturn in local casino and gaming revenue at shuttered venues.

Popular digital brands that experienced growth and higher volumes of gambling traffic in the United States include FanDuel, Betfair, Wynnbet, Poker Stars and Sky Betting.

In light of the shift in recreational habits and behaviours of betting and gaming, it is anticipated that major casino operator Las Vegas Sands Corporation may join the digital industry with a new product launch that will see the development of betting and gaming apps in the near future. However, it is unclear and remains unconfirmed that the The Venetian Las Vegas owner and operator will enter the US online gambling market.

The most popular states in America that are currently experiencing online gambling traffic, including betting and casino gaming are New Jersey, Pennsylvania, Michigan, West Virginia, Nevada, Colorado, Illinois and Tennessee.

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