The recent federal law change to allow states to legalize online gambling and sports betting has allowed the United States to position itself as the biggest online gambling market in the world. And this booming industry shows no signs of slowing down.
In an incredibly competitive market, more and more iGaming websites and apps are popping up as more and more Americans reach for their smartphones, tablets and laptops to place their bets in online casinos and on online sportsbooks.
With hundreds of different providers all battling for the attention and dollars of players, the methods they use to attract new customers are changing and developing all the time. From paying for glitzy, glamorous advertising campaigns to offering great bonuses on sign-up and further offers aimed at customer retention, companies are going all out to make the most of the fastest-growing industry in the country.
These methods appear to be working judging by some of the revenue reports from various states. For example, the American Gaming Association reported a record $13.6 billion return in the second quarter of 2021, whilst New York state brought in $2.5 billion in revenue from websites and apps alone within the first month of legalized online gambling in January this year.
Furthermore, revenue from states that have legalized gambling surpassed $45 billion last year, setting records that continue to be broken. All this means online casinos and sportsbooks are obviously incredibly popular and it is no surprise that more and more of these platforms are being added to the competition all the time.
The rise in online gambling options
New online casinos with live dealer games, online sports betting sites and apps, and even fantasy sports games from the likes of DraftKings and FanDuel have gone from being banned in most U.S. states to now appear left, right, and center vying for that lucrative piece of the revenue pie.
Not only are more and more platforms appearing in those states where online gambling has been legalized, but more and more states are beginning to join the queue in relaxing their own laws.
This, in turn, sees even more new platforms appearing and existing platforms moving into those newly-legalized jurisdictions. For example, we have already seen the likes of Caesars Casino licensed to operate in New Jersey and BetMGM sportsbook licensed in Arkansas as the revenues continue on their record-breaking trajectory.
Arkansas only legalized online sports betting in February and the state’s three major casino operators are expected to provide online sportsbooks soon. From legalization in one state to increased numbers of platforms, bringing a huge increase in revenue, then to legalization in another state and so on – the industry is one huge lucrative cycle.
Driving the online iGaming boom
As we have already discovered, sportsbooks, casino websites and apps, and poker-specific platforms are all hugely popular – especially with millennials who are statistically the largest demographic of online gamblers in the U.S.
Thanks to technological advances, gambling is no longer confined to meeting up in brick-and-mortar casinos. Now in an increasing number of states, you only have to click a button or tap a screen in order to take part in online casinos and sportsbook betting.
All the best online casinos and sportsbooks provide bonuses for US players, from enticing offers on sign-up to loyalty offers for long-standing customers. Their platforms have all the popular casino games and gambling options for almost every sport and sports competition going.
As smartphones and tablets now make up almost 80% of online gambling transactions, mobile betting and casino apps have to provide as close to the real experience as possible – some don’t always meet the expectations but the vast majority often do. They have easy navigation, crystal clear graphics, and quick response and refresh times which all make a difference.
Successful profitable platforms
As we have pointed out, the traction of online gambling has become huge and there are a whole host of traditional well-established casino houses and betting companies setting up and extending their own online presence. There are also many online-only casinos and sportsbook companies that continue to pop up.
What do they all have in common? The answer is they have all joined a lucrative industry and have excelled in it. It’s certainly food for thought for any companies wanting to set up something similar, be that via stand-alone platforms or by merging with existing heavyweights of the industry.
Let’s take a brief look at some of those companies that have done very well from legalization in the U.S. in recent years…
888 Holdings / William Hill
One of the most proven and trusted online gaming providers, 888 Holdings not only has its flagship 888 Sports site in its locker but also provides a whole host of casino and poker options. They have more recently acquired historic British bookmaker William Hill from Caesars Entertainment to add to their lucrative roster and have become incredibly successful in stamping their mark on the online sports betting market.
Providing some of the most enticing, attractive customer deals, the brand continues to reach new markets, especially in the U.S. states where the practice is legal. In other states, they have partnered with localized gambling operators in a clever move to keep the dollars rolling in.
Paddy Power Betfair / FanDuel
The merger in 2016 of the Betfair Group and Paddy Power PLC created Paddy Power Betfair Flutter Entertainment to offer some of the best sports betting and gaming via their various websites which are marketed and branded under various names such as Sportsbet, Betfair, TVV, and Paddy Power.
Then in 2018, the company’s U.S. arm merged with staple American online gambling site FanDuel to create an even more lucrative behemoth in the industry to reach even more markets – notably the state of Connecticut where FanDuel is an exclusive provider of online gaming on behalf of the state’s Native American casinos.
Bet365 has fastly become one of the largest companies in the sports betting industry from its early days as a small, localized U.K. website. In the years since they have expanded to a worldwide market of over 20 million customers, more recently hitting the U.S. market, and they have also expanded their range to include casino play and… wait for it… eSports betting. Bet365 is one of the very few companies to offer this unique service to players wishing to try their luck in gambling in the world of eSports.
The casino arm provides a broad range of casino games, poker, bingo, wheel games, slots, and table and card games to provide everything an online gambler needs. The company has also recently partnered with Hard Rock Atlantic City Casino as they continue to maximize its opportunities in the American market.
Growth to continue indefinitely
That was just a couple of the many online gambling companies that have already seen instant success in the ever-increasing U.S. market and you will be certain to come across even more such examples. As more and more states open themselves up to legalizing the industry, this growth looks set to continue on its rapid climb and shows no signs of slowing down. The competition will be fierce, wide, and varied – all the hallmarks of a great industry for players.
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