The online gambling market in the US was valued at almost $1 billion in 2015 and is expected to surpass $4 billion by 2020, says Technavio.
Technavio has announced its latest market research report on online gambling market in the US to its media and entertainment services portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the online gambling market in the US during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include 888 Holdings, Betfair Casino, Borgata Hotel Casino & Spa, and Dover Downs Gaming & Entertainment.
“The vendors in the market are presenting rewards and offers that are customized based on the demographic and psychographic profiles of the players. The customers are demanding for more realistic and higher probability of winning. The vendors have to value the players’ money and define new achievements in order to maintain the regular influx of customers towards online gambling options,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment services.
Click here to request a free sample of this report
The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Easing of government regulations
In 2012, the US Federal government passed a new that allowed individual states to license online and mobile casinos and sportsbooks and poker sites within their borders. By easing the laws on online gambling, the government can impose a higher tax to gambling vendors and use the revenue for the country’s progress. By legalizing online gambling, the government can create more employment opportunities and contribute the revenue for social welfare through NGOs, development of hospitals, and education institutions.
Scope for increased contribution to national economy
The earnings from the gambling revenues come in the form of taxes, and these can be added to the countries’ national income to create new jobs and reduce budgetary gaps. Casinos are glamorous tourist designations in the US market. It attracts a lot of tourists on a yearly basis to these locations and adds to the revenues of the state and the country. Additional facilities provided by these establishments make them a very popular choice among consumers. Many vendors are advertising and promoting their online casinos to attract a larger consumer base.
Wider reach of online gambling
Online gambling extends the reach of the gambling games as it is web-based and does not require the physical presence of the players at the venue. The primary factor attributing to the growth of online gambling is due to the acceptance of computing and mobile devices among the population of the country. Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population and encourage them to participate or join several online gambling websites by offering introductory offers and rewards. Such development in the industry will propel the growth of the market during the forecast period.
Some of the other prominent vendors identified in this report are BetAmerica, Betfair Online Casino, Delaware Park, Draft Kings, Fan duel, Golden Nugget Online Casino, Harrington Gaming online, Pala Casino, Real Gaming, Resorts Online Casino, TVG, twinspires, Watch and Wager, WorldWinner, and WSOP.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Online Gambling Market in the US 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Online Gambling Market 2016-2020
- Global Gambling Market 2016-2020
- Global Sports Betting Market 2016-2020
- Online Lottery Market in China 2016-2020
To read more press releases- click here.
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
