Today, we can easily choose from a huge variety of casino games and lottery-style games and even bet online from the comfort of our own homes. There are countless gaming sites that allow you to do that from one space, and even specialized gaming sites where you can, for example, play online bingo or try your luck with casino games.
In any case, the online casino market represents one of the fastest-growing sectors with huge potential to develop further in the future.
This is one of the main reasons why an increasing number of countries around the world accept online gambling and create regulations to protect their casino members. Also, they will regulate the market since it can generate a lot of revenue.
The US gaming market is a testament to the potential of online casinos, specifically when it comes to online betting since sports betting is more widely accessible in comparison to online casinos. In this article, we will look at the US gaming market and its possibilities to gain traction in 2023.
Online Casino and Betting
Since the federal ban was lifted in 2018, there are over 30 states in the USA, including the District of Columbia, that have legalized sports betting. Prior to that, gambling activities were restricted mainly to Nevada, but obviously, that has changed.
There are many other cities that are looking to legalize some form of online gambling, including Ohio, which is set to complete the regulation of the sports betting markets in 2023. But even now, we can get a taste of the potential of the iGaming market since it has generated annual revenue of around $3.71 billion while It is expected by 2026 USA to become the largest online betting market even greater than the UK, with a net worth of $24.3 billion by 2026.
When it comes to online casinos, although we associate traditional casinos with the state of Nevada, there are over 20 states in USA that support traditional gambling establishments, while there are some that have regulated online gambling, such as New Jersey and Delaware.
Technically it is considered illegal to play in a real money casino that is licensed by the state, but fortunately, there are plenty of options to choose from since online casinos have proven to be attractive gaming destinations to anyone that has ever played in a traditional casino before.
We could definitely say that in 2023 the iGaming market will gain more traction because for both sports betting and online casinos, it is important to notice that many users prefer it to traditional forms of gambling since its convenient as well as easy to access and they are high –quality, safe options on both fronts.
The only obstacle is some states which are not supportive of gambling, like Utah, for example, but otherwise, the future of online casinos and sports betting in the USA is bright. We can definitely see there is demand for the iGaming industry, and with proper legislation as well as new technological innovations, the market will continue to rise.