With the numerous transformations over the last few years, it can be said that the US online casino industry is performing well in 2021. In 2020, the US online gambling market was valued at USD 1,978.57 million, and it is projected to register a CAGR of 17.32% over the next five years.
There’s no doubt that everything that happened in 2020 had a major impact on the gambling industry in the whole world. The US online casino industry has witnessed migration from offline to online gambling activities.
However, as time goes by, we can see that the online gambling market kept its audience by offering great accessibility, comfort, and a wide range of game options as well as payment methods and rewards.
Generally, The US online gambling market is segmented into three types:
- By game type
- By end-use
- Geography
Currently, the largest market for regulated online gambling in the US is New Jersey. Dozens of legal and licensed online casino sites compete for an overall market that is worth more than USD 225 million annually.
Each year, more and more states are getting interested in legalizing online casinos, so the US online gambling market is expected to increase in the future.
Finally, if you’re interested, the detailed guide to the best online casinos for US players can be found at onlinecasinosamerica.com.
How Will the US Online Casino Industry Evolve in 2021?
By now, six states have legalized online casino operations, and as the US online gambling market grows, it’s attracting more investors as well as creating new opportunities for dealers and players. So what is next for the US online gambling market in 2021?
It’s expected that online wagering revenue accounts for over 20% of the total gambling revenue in 2021, and as more states legalize online gambling, this percentage might grow. It’s projected that by the year 2023, at least 35 states will have authorized online gambling.
As technology evolves, the online gambling industry evolves as well. By taking up 128-bit SSL data encryption, online casinos have proven that the safety of their players is by far the number one priority. It’s projected that online casinos will continue to upgrade their security systems as often as possible.
Finally, it seems like crypto will continue to dominate the gambling industry. Many people prefer these types of transactions due to the security and anonymity it offers. So it’s most likely that crypto will continue to thrive in 2021.
The Impact of Technology on the US Online Casino Industry
It can be said with certainty that technology has had a massive impact on our lives, and no sector has been left out of this great revolution. A lot has changed in the online gambling industry in the last couple of years, and it’s all thanks to technology.
Nowadays, gambling sites use encryption innovation to encode their players’ information. That makes it impossible for thefts and cybercriminals to access an individual’s data, such as bank information or passwords.
Blockchain technology has had an enormous impact in the world, including the gambling industry. At this point, cryptographic forms of money like BitCoin are a commonly recognized name.
To state the obvious, before the online storm hit the world, gambling was somewhat limited to a particular class of people. With that said, due to technological advancements, nowadays, anyone who has access to the internet also has access to play online casino games.
Last but not least, computer-generated reality, a.k.a virtual reality, has allowed bookmakers to plan virtual competitions for gamblers to be on. With the overwhelming amount of interest, it’s only a matter of time before everyone has easy access to virtual reality casinos.
Land-Based Casinos Lag Behind
With the rise of the online gambling industry, land-based casinos have experienced quite a fall, and they seem to lag behind due to the recent popularity of online gambling sites.
While brick-and-mortar casinos located in Las Vegas and Jersey Shorerepresent a once in a lifetime experience, the majority of people don’t have the time nor the money to get to these places.
Although no picture can replace the feeling in a luxurious and magnificent casino, it seems like these days, people are more focused on comfort than luxury, so that’s why land-based casinos are facing a rapid decline.
Additionally, online casinos offer more privacy and convenience, as well as numerous new games that go through upgrades once in a while. This is something that traditional casinos cannot be at par with because of their limited games.
