It has recently been announced by the American Gaming Association that the country’s casino industry has had its best year to date. In 2021, the revenue was standing at $53 billion, higher by 21% compared with the previous best year, which was 2019. Contributing to this success is the legalization of iGaming in some US states, as well as the launch of new gaming websites and mobile casinos.
Many states have set their own records in terms of revenue, with remarkable results, and the future is looking even brighter. Out of the total revenue, $8 billion was due to online gambling and sports betting. 2022 looks like a promising year in this area, with mobile gambling websites having been allowed to launch in Louisiana and New York. Gambling is expected to move online for Ohio and Nebraska as well and there are more states that are considering a change in legislation.
For many years, the iGaming industry in the US has been going through a drastic revival process. Many states have been proposing new laws and a change in legislation that takes into consideration the needs of online gaming providers as well. Currently, the legislation is prohibiting many forms of gambling, but things have started moving in favor of online casinos and their supporters.
New opportunities are starting to show up and the industry is predicted to soar in a few years. More and more brands are taking an interest in the American market and are looking for opportunities to broaden their horizons there. The UK and European operators are already heavily popular and technology-focused, so it is expected that American brands might try to partner with or even acquire these brands.
Prior to 2018, when the US Supreme Court had decided to legalize sports betting throughout the country, an estimated $150 billion were illegally bet every year. The first state that advocated for the legalization of other forms of gambling was New Jersey, which brought the case forward. The decision was then made that each state should regulate their own bodies of gambling and since, online casinos have started becoming legal all over the country.
Soon after that, more states followed. The first states that regulated online gambling were New Jersey, Delaware, Pennsylvania, and West Virginia. People in those states were able to access online gambling platforms on their laptops and mobile phones and play their favorite games legally. Wherever they choose to play, they can now do it in a more convenient and easily accessible way.
On top of that, online players are usually offered plenty of promotions and bonuses in an attempt to attract and retain them. WV online casinos, for example, offer various deals for its players, from no deposit bonuses that allow them to try out games without spending a dime, to loyalty programs that regularly reward players with prizes or other benefits.
A change in legislation would clearly come with financial benefits for the states. The revenue would become taxable, which is a major issue in general with online casinos, and there would also be new jobs offered to people. Overall, the rest of the states would benefit from considering an expansion in legislation for their own online casinos. The number of Americans who gamble is on the rise every year, so the topic of creating a regulated industry remains highly relevant in 2022.
The iGaming industry is growing tremendously and this is a fact that can’t be denied by any state. The games are becoming better and better thanks to technological advancements and online casino platforms are constantly improved to match up to the customers’ expectations. In this modern era, where innovation is praised, it is only natural for the iGaming sector to lead the way.