Online gambling in the U.S has been a contentious topic for so long. There have been strong cases made for and against online gambling. The contention about online gambling has actually had some impact on land-based casinos. Despite all this, the gambling industry has been growing at a fast rate.
The online gambling niche found its breakthrough in 2018 when the Supreme court in New Jersey authorized online casinos. This phenomenon served as the green light for other states to legalize online gambling.
The Rise of the U.S Online Gambling Industry
Gambling in the United States is a matter of state laws. The Department of Justice (DOJ) allowed online wagering on the condition that it’s legal as per the state law. State-level legalization in some states did not take long, and there are over 20 states that have legalized sports betting.
Several states have sanctioned online casinos, but New Jersey looked the other way in 2018, opening doors for other states to follow suit. The legalization of online gambling in the USA has led to an upsurge of safe online casinos, some found at online-gambling.com.
One of the leading investors being Rush Street Interactive (RSI), which owns and operates Sugarhouse Casino. This operator has opened online sports betting operations in Pennsylvania, Colorado, Indiana, and Illinois.
Other companies have joined the race, and the U.S online sports betting and online casino market is currently valued at $33 billion. This value is expected to rise at a CAGR rate of 14.78 percent within the next five years.
Expectations for the U.S Online Gambling Market in 2021
The development of favorable regulation has added appeal to this fast-growing gambling market. Six states have already legalized online casino operations. As 2021 progresses, we expect the U.S online casino market to grow, attracting more investors and creating more opportunities for players and dealers.
Increased Gambling Revenue
Online wagering revenue is expected to account for over 20 percent of the total gambling revenue in 2021, and this percentage might grow as more states legalize online gambling. It is projected that at least 37 states will have authorized online gambling by 2023. Many online casinos are looking to expand their operations into the U.S market.
The online gambling industry has been embracing technology faster than any other online industry in the U.S. According to cybersecurity news outlets, the most recent tech applications have been around curbing fraud.
Online casinos have taken up 128-bit SSL data encryption technology to protect players’ personal and financial data from cybercriminals. These new data security measures have attracted more gamblers into the market.
Online gambling companies have also invested in blockchain and cryptography technologies to help ease online transactions and transparency. There are a plethora of online casinos accepting cryptocurrencies in the United States.
By working with leading casino game developers leveraging state-of-the-art technologies, online gambling sites are now offering their players an exquisite online gambling experience. Technology is being applied to edge out the competition and offering the best experience to gamblers.
More Live Online Casino Games
The ability to play live games online is one of the greatest innovations in the online gambling space. This technology is set out to bring the authenticity of land-based casinos to the online gambling space by allowing dealers to offer online live games in real-time.
The dealer’s actions are physical and taking place in a real casino. They are translated into digital data using Optical Character Recognition (OCR) technology and transmitted to the players online in real-time. In online live casino games, the games’ outcomes are determined by the dealer and not computer software.
This technological innovation has already taken shape in the U.S online gambling market, and it is expected to gain more popularity in 2021 and beyond.
A More Immersive Experience
With more players joining the iGaming space, online casinos are forced to offer an immersive online gambling experience. This is already taking off in the U.S market, with several online casinos offering virtual reality (VR) to immerse players into a virtual gaming environment.
Online casino players can select the location of their games from leading casinos across the world before setting up a game with a live dealer. Gamblers can play poker, slots, blackjack, and roulette. Players can communicate with each other as they play.
The advancement of immersion technology is headed towards integrating Augmented Reality (AR). This latter technology will help superimpose real objects into the virtual experience. Players using AR-based immersion technology can see the dealers enter the room, shake hands, and interact with casino objects such as tables and slot machines.
Online casinos offering these technologies are attracting players from across the United States. We are set to witness industry growth in terms of the player base, revenue, and player experience in 2021 and yours to follow.
More states Set to Legalize Online Gambling.
Six states have already passed Bills legalizing sports betting, and 22 others have proposed legislation and are hoping to make online gambling legal. Once online gambling is regulated in these jurisdictions, placing wagers via desktop computers, mobile phones, and other mobile devices will become an option for gambling enthusiasts.
However, legalization seems to take long across the country when it comes to games of skill and chance. Most states with traditional gambling venues such as tribal or commercial casinos, card rooms, and race tracks are hostile towards alternative interactive gambling.
This trend is changing, though, with some of these states joining the race for online casino legalization. Some of the regions where lobby groups and politicians are pushing for changes and policy shit include Connecticut, Illinois, Nevada, California, New York, Indiana, and Massachusetts.
It’s worth noting that the legalization of online lotteries is what inspired other forms of online gambling. When lottery officials from Illinois and New York asked for the Department of Justice’s opinion on the sale of digital lottery tickets in 2009, the response in 2011 clarified that the Wire Act of 1961 is interpreted as applying only to sporting betting and wagers. This created a window for the legalization of online casinos and poker platforms.
We are expecting that Maryland and Massachusetts will legalize online wagering soon, probably in 2021.