All aspects of society have been impacted by the COVID-19 outbreak, including people and businesses. Around the world, the Internet ecosystem has been essential. One of the industries hardest hit by the COVID-19 outbreak is the casino and gambling industry. The reliance on player tracking, security, and surveillance systems has increased dramatically in the wake of the COVID-19 outbreak. Casinos and resorts use casino management solutions to provide customers with the services they need.
/EIN News/ — New Delhi, Sept. 01, 2022 (GLOBE NEWSWIRE) — Online gambling in the United States The growth of the market is accelerated by the increasing adoption of smartphones, easy access to casino gaming platforms and internet penetration, as well as the growing popularity of digital payments.
A recent study conducted by the strategic consultancy and market research firm, BlueWeave Consultingrevealed that the online gambling market in the United States was worth USD 2.65 billion in 2021. The market is expected to grow at a CAGR of 16.4%, generating revenue of approximately USD 7.61 billion by 2028 . Online gambling in the United States Market is booming due to the two main drivers driving the online casino gaming industry: growing consumer interest in betting and the freemium model of online gaming. The expansion of the online casino market is accelerated by the growing use of smartphones, the accessibility of casino gaming platforms and increased internet penetration. The increase in internet traffic on all platforms, the implementation of social distancing restrictions following the COVID-19 outbreak and the increase in the number of users of online gambling platforms, especially during pandemic outbreaks, all have an impact on the casino. online gambling market. Electronic gaming devices (EGDs) are more popular because they have software that simulates the action in a local casino, are less expensive to operate, and are widely available. However, the global recession, government limits to curb gambling addiction, changing demographics, and security concerns could all hamper the expansion of the online gambling industry in the United States in the future.
Growing internet penetration
Additionally, the availability of low-cost mobile apps, the expansion of digitalization, a variety of secure digital payment alternatives, an increase in money available, and an increase in the use of digital currency and websites all have a favorable impact on the online casino gaming business. . In addition, high frequency of gambling websites, increase in registrations, increase in favorable laws for online gambling and technical improvements provide profitable opportunities for players in the gambling market. money online from 2021 to 2028. Growth over the historical period was driven by a robust economy. growth in emerging countries, increasing use of smartphones with better internet connectivity, growing popularity of digital payments and an increase in disposable income. Additionally, increased player involvement during the Covid-19 pandemic, growing consumer acceptance for fintech, technically advanced platforms, legalization of gambling, and changing gambling habits of consumers will drive development in the future. The global recession, government limits to curb gambling addiction, changing demographics, and security concerns could all hamper the expansion of the online gambling industry in the future.
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Growing Popularity of Remote Gaming
Due to the complicated tax structure of the industry, casinos across the country are expected to be hugely successful. The internet betting industry is growing due to the growing popularity of remote gambling. The proportion of female casino customers is also increasing. Consumer convenience with the cashless payment method is what drives the online gaming industry. Additionally, several companies are focused on developing state-of-the-art platforms to meet a variety of customer demands and want to gain a competitive advantage in the market. With the legalization of sports betting by the Supreme Court in the United States in 2018, the market for online gambling companies is growing considerably. For example, Entain PLC announced the US launch of acclaimed gambling app Gambling Responsibly America in 2021.
Challenge: Hacking and cybercrime are on the rise
It is estimated that the increase in hacking and cyber crime in online gaming and betting will hamper the growth of the industry over the predetermined period. The sector is experiencing an upsurge in cybercrime. Two key issues that endanger the growth of the industry are software piracy and signal manipulation through fraudulent applications. Online gaming activity is also impacted by an increase in the possibility of app-based theft. In addition, a person’s relationships and health can suffer from compulsive gambling, which can lead to despair or debt.
Please see the press release: https://www.blueweaveconsulting.com/press-release/united-states-online-gambling-market-to-reach-us-7-61-billion-by-2028
Online gambling in the United States Market – Per device
On the basis of devices, the online gambling market in the United States is segmented into desktop, mobile and others. Among these, the desktop computer segment holds the largest market share. The desktop offers a larger screen than cell phones and other devices, allowing gamers to explore in-game features and visuals. The loudness, graphics clarity and variable storage capacity of desktops are other performance features that enhance games. These elements have contributed to the growth of the desktop computer market. The stunning smartphone gaming images made possible by modern mobile phone technology have increased access to online gaming on mobile devices. The convenience of players is increased by the availability of mobile gaming. The simple fact that inexpensive cell phones are readily available, along with new features such as improved graphics and greater storage capacity, are supporting the category’s growth.
Impact of COVID-19 on Online gambling in the United States Market
The COVID-19 outbreak has impacted all aspects of society, including people and businesses. The Internet ecosystem has been critical all over the world. The casino and gambling sectors have been particularly hard hit by the COVID-19 outbreak. The COVID-19 outbreak has increased the reliance on player surveillance, security, and monitoring technologies. Casinos and resorts use casino management solutions to provide the services their customers need.
The major players in the US online gambling market are Rivers Casino, MGM Resorts International, Cherry Gold Casino, 888 Holdings PLC, Eldorado Resorts Inc, Flutter Entertainment, DraftKings, Churchill Downs, FanDuel, Golden Nugget, PokerStars and others. other leading players. . The online gambling market in the United States is highly fragmented with the presence of several manufacturing companies in the country. Market leaders maintain their supremacy by investing in research and development, incorporating advanced technologies into their products and offering improved items to customers. Various tactics including strategic alliances, agreements, mergers and partnerships are used.
The report’s in-depth analysis provides insights into the growth potential, upcoming trends, and statistics of the United States online gambling market. It also highlights the factors driving the forecast of the total market size. The report promises to provide recent technology trends in the United States online gambling market and industry insights to help decision makers take sound strategic decisions. In addition, the report also analyzes market growth drivers, challenges, and competitive dynamics.
|Years considered||Historical data – 2018-2021|
|Base year – 2021|
|Forecast – 2022 – 2028|
|Facts Covered||Revenue in billions of dollars|
|Product Service/Segmentation||By type, by device|
|Key players||Rivers Casino, MGM Resorts International, Cherry Gold Casino, 888 Holdings PLC, Eldorado Resorts Inc, Flutter Entertainment, DraftKings, Churchill Downs, FanDuel, Golden Nugget, PokerStars and other top players.|
- sports betting
- Other types of games
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