Executives of casino operators and their technology partners gathered at the East Coast Gaming Congress in Hard Rock Hotel & Casino Atlantic City last September 21-23 to discuss the future of the industry, and many were confident about the potential of online gambling in the United States.
Speakers at the conference said that there is a lot of room for growth in the market, and sports betting has played a vital role in recent developments, especially regarding the online infrastructure and regulatory approvals.
It is also discussed that more states are expected to legalize online gambling shortly and that this will create opportunities for both casino operators and suppliers.
What Happened to the US Online Casino Market?
According to the American Gaming Association (AGA) reports, Garden State’s online casino platforms have retained $4.79 billion from consumers since the commencement of operations last 2013.
Pennsylvania online casinos launched on July 2019 and won $2.47 billion from players while The Great Lake State’s online platforms won $2 billion in less than two years. Connecticut online casinos generated a little less than 200 million since Oct. 2021 while West Virginia resulted in $137.4 million after a couple of years.
Surprisingly, Delaware online casinos that started operations in 2013 have only generated $42.2 million from players.
Meanwhile, Silver State, which covers the Entertainment Capital of the World – Las Vegas, offers online poker but the revenue generated from such operations is combined with the in-person gaming reports.
The Potential of Online Casinos in the US
Casino executives are feeling bullish about the potential of the United States online gambling market, especially after a major conference in New Jersey.
Executives are leaning towards the possibility of having regulated online gaming in three to four additional states which include Illinois, Indiana, Iowa, and New York. As per the Commercial director of North American operations for Evolution Gaming, James Carey:
“I’m confident there’s plenty of room for growth.”
New Jersey Lottery executive director, James Carey also added that there are more than a dozen states that sell lottery tickets online.
“The growth in this industry is still in its infancy stages in the U.S.” added New Jersey’s Division of Gaming Enforcement Director, David Rebuck.
Role of Sports Betting
Since the PASPA was repealed last 2018, Washington D.C., together with the 31 US states has legalized sports betting and more states are on track to follow.
Rush Street Interactive CEO, Richard Schwartz added that the legalization of sports betting in several states increases the chance of regulating online casino gaming as well.
But it is not just about the possible legalization but also the technological infrastructures.
“They have servers in place. It’s quicker to start up a casino addition,” Schwartz added.