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The US - online gambling market size is estimated to grow by USD 41.82 billion accelerating at a CAGR of 10.79% between 2022 and 2027.
Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by End-user (desktop and mobile), Gender (male and female). Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2022.
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The easing of government regulations is a key driver boosting the market growth. In 2006, the Unlawful Internet Gambling and Enforcement Act prohibited online gambling in the US, but regulations evolved in 2012, allowing individual states to license online casinos, sportsbooks, and poker sites. As of 2023, New Jersey, Delaware, Michigan, West Virginia, Pennsylvania, and Connecticut permit online gambling. Anticipating further state legalization, benefits include revenue through taxes, job creation, economic strengthening, and contributions to societal welfare. The relaxation of regulations is a key driver for the forecasted growth in the online gambling market in the US.
The emergence of VR as cure for gambling addiction is a key trend shaping the market. In addressing online gambling addiction, therapists employ VR as a method. This technique enables addicts to experience controlled virtual environments mirroring their cravings without exposure to real-life triggers. VR aids therapists in studying addicts' behavior during virtual gambling scenarios, allowing them to assess progress. Therapists can tailor VR environments to individuals' needs, easing addicts into setups with reduced noise, slot machines, players, and overall intensity. The ongoing trend of using VR to treat gambling addictions is anticipated to contribute to market growth in the forecast period.
The security and credibility issues associated with online gambling is a key challenge hindering market growth. Security and credibility concerns are key impediments to the US online gambling market. Many gambling websites lack a robust dispute resolution system, transparent prize payouts, and fair gaming standards, diminishing the credibility of operators. This issue hampers casino business scalability and deters new user participation. Online gambling platforms are susceptible to cyber threats, capturing sensitive user information vulnerable to hacking. Offshore-run Internet casinos may lack adequate cybersecurity measures, elevating the risk of cyberattacks. Some online casinos use poker bots for optimal play, inflating betting amounts. These security and credibility challenges are expected to restrain market growth in the forecast period.
The desktop segment is estimated to witness significant growth during the forecast period. There are significant advancements in smartphone technologies which is leading to the decline in the adoption of desktops and related technologies across the world. Additionally, there is an increasing shift in preference by consumers from desktop to mobile devices due to the lack of mobility and power consumption issues associated with desktops.
Online Gambling Market in US
By End-User
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The desktop segment was the largest segment and was valued at USD 23.58 billion in 2017. On the other hand, desktops are still preferred by some users because of their high-definition displays and better visual experience than small-screen devices such as smartphones. Additionally, there is an increasing preference for larger devices for online gambling by a majority of the US population mainly because of the better gaming experience and bigger display size. Furthermore, several developments in web technologies, including Hypertext Markup Language 5 (HTML5), flash technology, and new Cascading Style Sheets (CSS), have facilitated companies to develop new website- and web-based applications with more intuitive interfaces and features. Hence, such factors are fuelling the growth of the segment which in turn will drive the US online gambling growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The online gambling market in US report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The US online gambling market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Gambling Market In US Scope |
|
Report Coverage |
Details |
Page number |
123 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.79% |
Market growth 2023-2027 |
USD 41.82 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.97 |
Regional analysis |
US |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
888 Holdings plc, Ballys Corp., Bet365 Group Ltd., Betsson AB, BOVADA.LV, Caesars Entertainment Inc., Delaware Park, DraftKings Inc., Flutter Entertainment Plc, Game Taco Inc., Harrington Raceway and Casino, Infiniti Media Group Ltd., Landrys LLC, Light and Wonder Inc., MGM Resorts International, Midwest Gaming and Entertainment LLC, Realtime Gaming, Resorts Digital Gaming LLC, and Rational Intellectual Holdings Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Gender
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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