US Online Gambling Market Five-Year Forecast

US Online Gambling Market Five-Year Forecast

Analysts project the US online gambling market to have a CAGR of 15.41 percent from 2020 to 2025. They looked at the current legislative framework for online wagering in the nation and saw that only four states allow online sports betting to date. They are Pennsylvania, New Jersey, Delaware, and Nevada.

At present, New Jersey is the biggest online gambling market in the US. There are more than a dozen licensed online poker rooms and casino sites operating in the state. Thus, the market is worth more than $225 million annually. Also, there are several online sports wagering apps and sportsbooks running in New Jersey.

According to a sports betting software report, the top online casinos in New Jersey in June 2019 was The Golden Nugget/Betfair with revenue of $13.6 million. In second place was the Resorts AC with 6.39 million. In third place is Borgata/Party with $5.66 million.

US Online Gambling Market

US Online Gambling Market Five-Year ForecastAccording to reports, not all online operators want to know how to be a bookie. Some of them are looking into starting a live casino. Thus, the live casino sector is gaining momentum in the United States.

Software providers told that states have strict regulations regarding live casinos. The good news is that some providers already received licenses to supply live dealer games in New Jersey.

Major companies can venture into new markets while North America’s live casino market is still at its nascent stage. In Vancouver, Evolution Gaming opened a live casino studio in January 2018. The company offers ten table games, including blackjack, slingshot roulette, baccarat, and American roulette.

Evolution Gaming has deals with various licensed operators, including Hard Rock Hotel and Casino Atlantic City, PokerStars Casino New Jersey, 888casino, and Ocean Resort Casino. Software providers have been acquiring and merging to optimize their offerings.

In five years, the market will be more competitive. Thus, now’s the time to invest in online gaming to ensure you get a portion of the market before it becomes bigger in years to come.