U.S online gambling industry set to grow in 2021
Many industries were heavily hit by the coronavirus crisis and their prospects for growth were shattered by the epidemics. 2020 is a brutal year for many of them and 2020 could be just as difficult for many entrepreneurs. The US online gambling industry on the other hand is doing just fine and there are positive signs regarding its outlook for 2021. There are clear indicators that better numbers will be posted next year, as more Americans are betting on sports and enjoy the thrills of casino and poker online.
All inclusive online gambling companies
The biggest online gambling operators provide their members with access to a comprehensive spectrum of gaming products. What usually happens is that the same account will grant players access to sports betting, casino games and sometimes poker. By expanding their reach, gambling companies provide players with access to diverse forms of entertainment and give them no reason to look elsewhere.
In the US, the numerous obstacles erected by prohibitive legislation have slowed down the growth of the gaming industry. In recent years, more states have passed their own laws regulating gambling and there is growing interest among players nationwide. This has led to a consolidation of gambling services, with sports betting companies and online casinos signing agreements. Players are the direct beneficiaries of these deals, as they can use the same account to try different forms of gambling.
More than a dozen new states are expected to offer sports betting opportunities to their residents in 2021. The list is expected to grow on a yearly basis and by 2025, the most optimistic forecasts suggest a revenue of nearly $10 billion. This upward trend mirrors the trajectory of gambling revenue worldwide, with the market set to expand globally.
Americans rediscover the convenience of online games
In the years preceding the UIGEA, Americans had a lot of fun with online games while cutting down on the time spent traveling to brick-and-mortar casinos. Poker rooms flourished and many players choose to move permanently to the online environment, while forsaking land-based locations. Over the next decade, they were forced to return to the brick-and-mortar operators, or take a leap of faith with offshore poker rooms. The latter offer their games illegally and are not accountable for their actions.
Today, most of the Americans have a favorable stance towards online gambling and many have learned to appreciate the convenience of Internet games. The availability of sports, casino games and poker, as well as the growing trust in electronic payment systems have contributed to this boost in confidence. As the states took matters into their own hands and began passing laws regulating the industry, the number of people playing has increased sharply.
2021 looks like a promising year for online gambling fans in the United States, as well as the industry itself. The fundamentals are there for a steady and sustainable growth and the biggest international gambling companies are ready to reenter this lucrative market.