The online gambling industry has always been a huge sector that has continually been able to develop and grow. Technology has played a huge role in making sure that this is the case, as it is a sector that has heavily relied upon the latest developments in order to thrive.
Changes in the legal landscape have also helped the industry to boom in certain aspects, with notable instances more recently having been witnessed across North America. The USA and Canada have both experienced shifts in the laws and regulations that once existed which now make iGaming legal, thus providing more favorable conditions for the industry to grow.
The USA’s online gambling market has boomed
Up until only a few years ago, the ability to play online casino games wasn’t entirely possible. States were banned under federal laws that had existed, however since a ruling in 2018 that was brought by New Jersey, this has changed as regions have decided to act on the abolishment of that federal law.
Despite the ruling mainly legalizing the act of sports betting, states were also given the ability to be able to introduce legislation and regulations that supported the act of online casinos. As a result, a handful of areas have decided to take advantage of the ruling and implement them.
Players in those states are now able to play their favorite games legally, which means they are also protected in terms of ensuring a fair gaming experience is possible to enjoy. If you want to find a site that is best for you to use, Best Online US Casinos is your trusted source as they detail everything you need to know and have your back covered with detailed reviews.
How much is the online gambling industry in the US worth?
Given the boom that has been experienced and the changed landscape from five years ago, there has been a lot of focus on what the iGaming industry is able to bring to the USA now it is legal. There will have been plenty of eyes on the industry for various reasons, but those who were looking at it from an economic point of view will not have been disappointed.
According to data from Statista and relayed in an article, the online gambling industry is expected to grow and bring in around $19.1 billion in 2023. This is a figure that is around 267% greater than what was recorded in 2019 ($5.2 billion). Additionally, the figures to have been recorded make the US (along with the UK) account for more than a third of the total revenue for this industry.
Online casino revenue across the US has also continued to grow year-on-year, with reports claiming that more was wagered on slots and other casino games in 2022 than they were in 2021. There is every suggestion that those figures are also likely to increase this year, too.
The industry should only continue to grow and it will be interesting to see what happens next, especially as there is still a lot of potential that can be achieved. More states could look to legalize it in the future, while more could simply start to look to play casino games on the internet as a form of entertainment.