Online Casino Gambling Is The Future Of US Gambling According To Experts
Online casinos aren’t something new, in fact, they were introduced in this world in the late 90s. However, since then the industry advanced to a point where all of our favorite casino games are
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All of this is thanks to technology that allows us to play engaging casino-style games online, with our friends, any place, any time.
This industry has also experienced exponential growth over the past couple of years, especially during the pandemic. Most people argue that the online casino industry is the future of US gambling just because of the many benefits that come with it.
Advantages of Online Gambling
In order to understand why this trend is considered the future of US gambling, we have to analyze its advantages and why people love online gambling so much.
First of all, we live in times when we don’t have enough money to go to a nearby casino for some slot action, which is why people often choose the best alternative – online gambling.
Additionally, the growth of this industry has been ignited even more by the change of generations. Millennials and Gen Z are more flexible when it comes to technological innovations, and they are the main driving factor of this fast-growing industry.
Nowadays, online casinos offer much more than physical casinos. First of all, they have a huge variety of games to choose from. On top of that, we have some innovative games that are more gameplay-focused, which are also changing the gambling industry. Casinos like OC88, which you can read more about here, offer tailor-made rewards and gameplay, with a strong focus on entertainment.
Lastly, the availability of online casinos from every part of the world is another advantage that fuels the growth of the industry.
Technology - The Backbone of Online Casinos
All of this wouldn’t be possible without all the technological advancements we’ve had over the last couple of years. Just look at smartphones, they now have more computing power than the huge desktop PCs we had 5 years ago. The technological advancements are truly scary, but they are the main reason why the online gambling industry is growing at a fast pace.
Technology makes the online gambling industry flexible and gives the industry the proper tools in order to provide the best entertainment for gambling enthusiasts.
Nowadays, online casinos have a wide variety of options from live dealer technology that combines real people with video streaming and augmented reality. We have faster internet connection speed, allowing the gambling industry to create unique games with instant updates on odds, prizes, and jackpots all over the world at the same time.
All of this technology, and its continuous advancement suggest that the online gambling industry will continue to evolve, and we will see more options that will change the way how we interact with our favorite casino games.
Insights from Data
Just so we can understand experts who suggest that the online industry is the future of US gambling, we have to look at the numbers and see where the industry is headed.
According to Statista, the US gambling market could hit $143 billion by 2028, and right now the US online gambling market sits at around $23 billion. This is astronomical growth, but this accounts for all forms of online gambling, including sports betting.
If we take the online casino gambling industry alone, we can see that this is the industry that is projected to have the biggest growth in the upcoming years, with 19.2% every year. Experts also point out that the online gambling market is projected to reach close to 100 million users in the U.S. alone by 2029.
These are just expectations, which may be even bigger depending on the technological advancement in the future, which influence the entire online gambling industry.
Consumer Preferences in the Digital Age
The rise of online casino gambling is not merely a technological phenomenon but a reflection of evolving consumer behaviors, particularly among younger demographics.
As we mentioned before, Millennials and Gen Z players, accustomed to seamless digital experiences, gravitate towards online casinos for their convenience, flexibility, and immersive gameplay.
Expert Commentary
According to Steve Ruddock, a gambling industry analyst and consultant, the online gambling era is just beginning. He suggests that until 2026 the online gambling industry will still not reach its full potential and that the future of this trend looks very bright.
Legislative Landscapes: Navigating the Regulatory Maze
The landscape of gambling regulation in the United States has undergone a dramatic transformation in recent years. The legalization of online sports betting has paved the way for a broader acceptance of online gambling activities, including casino games, across several states.
State Success Stories
States like Nevada, New Jersey, and Pennsylvania have emerged as pioneers in embracing online casino gambling, reaping substantial tax revenues and bolstering their tourism and hospitality sectors.
The success stories of these states serve as a blueprint for others, prompting a wave of legislative initiatives aimed at harnessing the economic potential of online gambling.