The latest report by IMARC Group, titled “United States Online Gambling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the United States online gambling market is expected to grow at a CAGR of 8.7% during 2022-2027. Online gambling involves betting on money or valuable possessions on sports-based activities or casinos over the internet. Also known as virtual gambling, the players do not have to engage in physical interactions as all the sessions are moderated by computer programs. The outcome of the wager is immediate and unsure, which is decided through the single roll of dice or spin of a roulette wheel. In recent years, online gambling has gained traction as it offers various advantages such as cashless transactions, accessibility through electronic devices, customizable budgets, and real-time gambling experiences.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
United States Online Gambling Market Trends:
The market is primarily driven by the legalization of online gambling platforms by the Government of the United States. This has led to a significant rise in the number of visitors to casino and gambling websites, thereby impacting the market growth. In addition to this, the development of electronic gambling devices (EGDs) consisting of in-built software that mimics the experience of a local casino is also fueling the market growth. For instance, market players have launched a video lottery terminal (VLT) that offers advanced technology and customized electronic slot machines, spinning reel slot machines, video slot machines, and electronic poler games. Moreover, the spread of the coronavirus disease (COVID-19) pandemic across the country has increased the growth of online gambling due to several lockdown restrictions imposed by the government. Furthermore, technological advancements, such as the development of virtual reality (VR) and 3D animation that offer a realistic and immersive gambling experience to the players, are expected to provide a favorable market outlook in the coming years.
- Based on the game type, the market has been segmented into sports betting (football, horse racing, e-sports, and others), casino (live casino, baccarat, blackjack, poker, slots, and others), and others.
- On the basis of the device, the market has been classified into desktop, mobile, and others.
- Region-wise, the market has been divided into Northeast, Midwest, South, and West.
- The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players operative in the industry.
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