Given the fact that the US boasts the third-biggest total in terms of the world population at around 335 million people, it is not a surprise that the developed country is one of the largest in terms of markets.
Although it sits well behind both China and India in terms of people - both Asian countries have populations greater than 1 billion (and rising) - the US is more developed regarding technologies, thus making it a location that can evolve and keep up with trends and changes.
One of the biggest industry trends now involves iGaming; something that America does not have too much experience with.
Plenty of opportunity to grow the iGaming market.
The iGaming market is yet to be fully experienced because of the various laws and restrictions that are in place. However, as there has been a favorable shift in some states, there is every chance that it is possible this market could become one of the biggest.
As sports betting has already swept across most of the nation, casino gaming is thought to be the next step for many. This has had many citizens across the country already looking at the available top American casinos that can potentially be used to obtain an enjoyable experience.
States like New Jersey, Pennsylvania, and Michigan have already fully legalized iGaming activities and regulated them, while states including Delaware, Connecticut, and West Virginia have each introduced some form of regulations to permit the use of online casinos in some capacity.
There is every possibility that this trend could continue given the figures that those that have legalized have managed to achieve. For instance, PA has managed to obtain over $4.2 billion in lifetime revenue, with almost $1.3 billion having been generated in taxes for the state.
The USA is unsurprisingly predicted to become the biggest market.
Given the country’s total population, its access to the latest technological advances and resources, as well as the changing landscape and shift towards iGaming services and permitting them, it is hardly a surprise the USA has been projected to become the world’s largest market for the activity.
According to estimates, it is believed it could happen by 2026, with it suggested that the US sports betting and iGaming market is predicted to reach a size of $24 billion. This figure is based on current situations, so if more states decide to regulate and allow iGaming, there is every chance that this figure could be eclipsed. Some projections have said it could be as high as $30 billion if this were to happen.
Only a matter of time
The iGaming and sports betting market is huge and one that is experiencing a favorable shift across the third-most populous country in the world now. With the activity already generating significant funds in the states where it is already permitted, it makes it easy to assume that the USA will be the biggest market for this industry in the future.
With expansion into new states a very likely thing, too, it is only a question of how big and how much it can be worth, rather than whether it will become the biggest, as this is guaranteed.