United States Online Gambling Market is expected to grow at a robust CAGR
United States online
gambling market is rising due to increasing legalization, technological
advancements, and growing consumer demand for convenient and accessible
gambling options during the forecast period.
According to TechSci
Research report, “United
States Online Gambling Market –
By Region, Competition, Forecast and Opportunities, 2018-2028”, the United
States online gambling market has experienced significant growth in recent
years, driven by a combination of factors. One key driver is the increasing
legalization of online gambling across various states. As more states recognize
the potential economic benefits and tax revenues associated with online
gambling, they are passing legislation to allow for its operation. This has
created a favorable regulatory environment, enabling online gambling operators
to enter the market and offer their services to a wider audience. Technological
advancements have also played a crucial role in the market's growth. The
widespread availability of high-speed internet and the proliferation of
smartphones have made online gambling more accessible than ever before.
Consumers can now conveniently access a wide range of gambling options from the
comfort of their own homes or on the go, leading to increased participation and
engagement. Furthermore, the growing consumer demand for online gambling has
fueled market expansion. The convenience, variety of games, and potential for
significant winnings have attracted a large and diverse customer base.
Additionally, the COVID-19 pandemic has further accelerated the shift towards
online gambling as traditional brick-and-mortar casinos faced temporary
closures and restrictions. Overall, the United States online gambling market is
poised for continued growth as more states legalize and regulate the industry,
technology continues to advance, and consumer demand remains strong.
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Based on Type, the sports betting segment dominated the
United States online gambling market and is expected to maintain its dominance
during the forecast period. Sports betting has gained immense popularity in
recent years, driven by the increasing legalization of sports betting across
various states. The excitement and thrill of wagering on sports events,
combined with the convenience of online platforms, have attracted a large
number of players. The availability of a wide range of sports and betting
options, including major professional leagues such as the NFL, NBA, and MLB, as
well as international events like the Olympics and World Cup, has contributed
to the segment's dominance. Online sports betting platforms offer competitive
odds, live streaming of matches, and real-time updates, enhancing the overall
betting experience for players. The COVID-19 pandemic also played a role in the
dominance of sports betting, as traditional sports events faced disruptions and
temporary closures, leading to a surge in online sports betting activities.
Furthermore, the increasing partnerships between sports leagues, teams, and
online gambling operators have helped to promote sports betting and attract a
larger audience. The integration of innovative features such as in-play
betting, cash-out options, and fantasy sports has further fueled the growth of
the sports betting segment. With the continued expansion of legalized sports
betting across more states and the ongoing popularity of sports events, the
sports betting segment is expected to maintain its dominance in the United
States online gambling market in the foreseeable future.
Based on Device, the mobile
segment dominated the United States online gambling market and is expected to
maintain its dominance during the forecast period. The increasing adoption of
smartphones and the convenience they offer have fueled the growth of mobile
gambling. Players are increasingly opting for mobile devices to access online
gambling platforms, allowing them to enjoy their favorite games anytime and
anywhere. The mobile segment has witnessed significant advancements in terms of
mobile-responsive websites and dedicated mobile applications, providing a
seamless and optimized gambling experience. Operators have recognized the
potential of the mobile market and have been investing in developing
user-friendly interfaces, a wide range of games, and secure payment options
specifically tailored for mobile devices. Additionally, the COVID-19 pandemic
has further accelerated the shift towards mobile gambling as people spent more
time at home and sought entertainment options on their smartphones. The trend
of mobile dominance is expected to continue as technology continues to advance,
offering more immersive experiences and attracting a larger user base.
Furthermore, the convenience and accessibility of mobile gambling resonate with
a wide range of demographics, including younger players who are more inclined
to use mobile devices for various activities. As a result, the mobile segment
is poised to maintain its dominance in the United States online gambling market
in the coming years.
Key market players in the
United States Online Gambling Market are: -
- DraftKings Inc.
- FanDuel Group
- BetMGM (Roar Digital)
- Caesars Entertainment
Corporation
- Flutter Entertainment (Paddy
Power Betfair)
- 888 Holdings PLC
- Kindred Group PLC
- William Hill PLC
- Golden Nugget Online Gaming
Inc.
- Rush Street Interactive
- Penn National Gaming Inc.
- Boyd Gaming Corporation
- Churchill Downs Incorporated
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“The United States online
gambling market has experienced significant growth in recent years, driven by
factors such as increasing legalization, technological advancements, and
growing consumer demand. With the legalization of online gambling in various states,
operators have been able to establish a regulated market, offering convenient
and accessible gambling options to a wider audience. Technological
advancements, including high-speed internet and smartphones, have further
facilitated the growth of the market by providing easy access to online
gambling platforms. As a result, the United States online gambling market
continues to expand, offering a range of gambling options to meet the evolving
preferences of consumers.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Online Gambling Market Segmented By Type
(Sports Betting, Casinos, Poker, Bingo, Others), By Device (Desktop, Mobile, Others), By Region, and By Competition,
2018-2028,”
has evaluated the future
growth potential of United States Online Gambling Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Online Gambling Market.
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