In the United States, iGaming refers to online gambling. Online casinos and poker rooms are two examples of iGaming. The legality of iGaming in the US is not straightforward. Each state is responsible for passing its own iGaming laws. However, more and more states are passing bills to allow iGaming. In 2022, the US iGaming market fared well.
The growing popularity of online gambling combined with the increasing number of states passing iGaming bills suggests that the US is becoming more accepting of this activity. This is good news for both US online casino operators and players alike. With more states passing iGaming laws, it is likely that we will see a rise in the number of online casinos and poker rooms in the US in the coming years.
iGaming Revenue Skyrocketed
A report by the American Gaming Association showed that gambling revenue in the United States exceeded $4.99 billion between January and April 2022. The report also showed that there is expected to be a growth of over 20% in gambling revenue in the United States come to the end of 2022, including increases in the iGaming sector.
Considering the six iGaming states, the total iGaming revenue in the US for August 2022 was $394.7 million. That is up 22.9% from August 2021. These figures show that the iGaming industry is continuing to grow at a rapid pace and is expected to generate even more revenue in the coming years.
The Potential Of Online Gambling In The US
Vixio Gambling Compliance’s report discovered that if all 42 states legalized both land-based gambling and iGaming, it could generate over $6.35bn in state taxes annually. This is a significant increase from the $3.2bn in state tax revenue generated from iGaming in 2020. The states that have made iGaming legal include Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia.
So, there is a long way to go until all states legalize iGaming, but the figures show the US iGaming market has fared well in 2022. With more states expected to legalize iGaming in the coming years, it is likely that the US iGaming market will continue to grow at a rapid pace.
What Makes iGaming So Successful?
One of the many reasons the US iGaming market has performed well in 2022 is the convenience of playing mobile games. You can install mobile casino apps on your phone and with just one tap of an icon, the casino loads. This is extremely convenient and why millions of people across the United States are choosing to play mobile casino games. Unlike regular casinos, you don’t have to dress up or travel to gamble.
Another reason is technology. Technology has always been a driving force in the iGaming industry, pushing the boundaries of what is possible. For example, 20 years ago, playing casino games online against other people with a real dealer was unthinkable, but today it has become commonplace.
Augmented reality casinos are currently in the works, and with online casinos always searching for new ways to play games, the US iGaming market is only forecasted to get bigger. With technology always developing, the sky is truly the limit for the iGaming industry. Who knows what we’ll be able to play next?