The US Online Gambling Market size was estimated at USD 2.5 billion in 2022 and is anticipated to reach around USD 9 billion by 2032, growing at a CAGR of roughly 17% between 2023 and 2032.
CMI research report offers a 360-degree view of the US Online Gambling market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the US Online Gambling market.
US Online Gambling Market: Overview
Factors that favorably affect the US online gambling industry include the availability of affordable mobile applications, growing digitalization, a selection of secure digital payment options, an increase in disposable income, and an increase in the use of digital currency and websites. Additionally, from 2023 to 2032, players in the US online gambling market will have lucrative opportunities thanks to the prevalence of gambling websites, the rise in registration, the expansion of favorable online gaming laws, and technological advancement.
Browse the full “US Online Gambling Market Size, Trends and Insights By Type (Sports Betting Casinos, Live Casino, Slots, Blackjack, Baccarat, Poker, Others, Others), By Device (Mobile, Desktop), and By Region – Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/us-online-gambling-market/
The rise in consumer interest in gambling and the freemium model of online gaming are the two main drivers of the online gambling industry in the United States. Factors including the rising use of smartphones, the availability of casino gaming platforms, and the rising internet usage rate fuel the expansion of the US online gambling industry.
The COVID-19 outbreak’s implementation of social distance restrictions increased internet traffic across all platforms. It increased the number of people using online gambling platforms—particularly during pandemic outbreaks—all impact the US online gambling market.
Electronic gambling devices (EGDs) are increasingly widely utilized since they are more easily available, feature software that replicates the activity at a nearby casino, and are less expensive to operate. However, factors including the present global recession, regulatory limitations enacted to combat gambling addiction, demographic changes, and security concerns could hinder the future expansion of the US online gaming business.
Estimates predict that online gaming and gambling will experience an increase in hacking and cybercrime throughout the selected period, which will limit industry growth. Cybercrime is increasing in this industry. Software hacking and signal manipulation by fraudulent apps are two major problems threatening the sector’s expansion. An increase in the likelihood of app-based theft influences the online gaming industry as well. Compulsive gambling can also damage a person’s relationships and health, leading to despair or debt.
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The market for US Online Gambling is segmented into type and device. Based on devices, the US online gambling market is divided into two device categories: desktop and mobile.
The desktop category among them has the biggest market share. Unlike mobile phones and other devices, the desktop has a wider screen that lets users explore the game’s features and aesthetics. Additional performance characteristics of desktop computers that improve gaming include the sound volume, the graphics’ clarity, and the expandable storage. These factors have contributed to the expansion of the desktop market. Modern mobile phone technology has made stunning gaming graphics on smartphones possible, increasing the accessibility of online gambling on mobile devices. The accessibility of mobile gaming improves convenience for players.
Competitive Landscape/ Key Players Insights
Leading businesses in the US online gambling sector are focusing on ongoing innovation to differentiate themselves from the competition and tailor their product offerings for prospective clients. These businesses mostly use mergers and acquisitions, product launches, and partnerships to enter and compete in the gaming industry.
Some of the prominent players
- Rivers Casino
- Cherry Gold Casino
- MGM Resorts International
- 888 Holdings PLC
- Flutter Entertainment
- Eldorado Resorts Inc
- Churchill Downs
- Golden Nugget
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