Is 2021 the year for online casino growth in the USA?
From poker to baccarat and slots to blackjack, people love to play casino games. But, while other countries and continents such as the U.K. and Europe have regulated internet gambling for years. America is yet to jump in with both feet. Even though their neighbors Canada have legalized the use of online casinos, so long as the casino company is not based in the country.
But, in the past decade, America has proved its attitude towards gambling is changing. And 2021 could be the year that sees exponential growth. Read on for more details why.
Several states have already passed and legalized online casino use by their citizens.
New Jersey
New Jersey passed an online gambling law in 2013. The law intended to expand N.J.s gambling market. And fill the void of lost gambling revenue that occurred in Atlantic City around this time. The dip in revenue was due to an increase in competition from gambling facilities in other states.
Now, the garden state draws in $225 million a year from online gambling. And N.J. owns the largest share of the online gambling market in the U.S.
Delaware
The Delaware Gaming Competitiveness Act of 2012 allows land-based casinos to create gambling platforms. Just a few years after legislating internet gambling, Delaware amassed $3 million in revenue from this sector in 2016.
Pennsylvania
Following Governor Tom Wolfs’ approval of a bill for online gambling in 2017. Online casino games emerged in Pennsylvania in 2019.
Pennsylvania intended to legalize gambling to enhance the state and boost the economy. As of 2019, the state accrued $33.9 million from online gambling.
Today, P.A. owns the fastest-growing gambling market in the U.S. Due to increased demand for online casino games. Pennsylvania’s casino providers are forming partnerships to facilitate the needs of iGaming enthusiasts.
West Virginia
Once the West Virginia Lottery Interactive Wagering Act was introduced in 2019, the Mountain state-permitted online casinos. A year later, the first regulated casinos on the internet commenced.
The launch of authorized online casinos proved to be more popular than West Virginia’s legal sportsbooks. In October 2020 alone, West Virginia’s online casinos accrued over $53 million.
The Advantages of Authorising Online Gambling in the U.S
In addition to the above, there are many reasons why online casinos benefit state governors and the public. The USA only has to look at their neighbors Canada to see the benefits the industry could bring. With many Canadians opting to play at online casino Canada, Canada’s economy is boosted due to things like taxes and employment, all of which could help benefit states in America.
The Government
Licensing: States can be selective about what casinos they permit and can limit the risk of gambling institutions backed by organized crime from operating in the state.
Audits: The government can regulate gambling activities online to ensure iGaming providers are safe and fair to use.
Lucrative Sector: Permitting and licensing iGaming platforms allows the government to charge for license fees and tax. Which can fund and improve the state.
Taxes gained from online gambling companies can help benefit the community.
For the people
Safe and Fair Gaming: The public will have access to approved licensed casino sites.
Accessible Gaming: Residents can play from their desktop, mobile, or tablet without visiting the casino.
Privacy: New casino players can gamble in private without the fear of being judged at a land-based casino.
2021: The Year for Online Casino Growth in the USA
According to a United States online gambling market report. Americas’ online gambling market will increase by a CAGR of 15.41%. Suggesting a steady yet impressive growth over the years to come.
Alongside the report, factors that will encourage the growth of the online casino in the US are as follows;
- With more states seeing the benefits of permitting online gambling brings. Attitudes towards gambling will continue to change.
- State governors can reduce the risk of underage residents gambling on unsafe platforms.
- Online casino income will grow as more casino variety is made available to the public.
- Once people know they can bet on safe and fair online casinos. More people will use licensed platforms.
The positive impact on the economy, coupled with safer places for US residents to gamble online, presents states’ an opportunity that’s too good to refuse.
As such, you will probably see an uptick in states instigating online gambling laws in 2021 and beyond. In a bid to protect the state’s public interests from organized crime groups. And to put the money from online gambling sources to fair use.
