According to IMARC Group’s latest report, titled “United States Online Gambling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the US online gambling market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
What is online gambling?
Online gambling involves betting on money or valuable possessions on sports-based activities or casinos over the internet. Also known as virtual gambling, the players do not have to engage in physical interactions as all the sessions are moderated by computer programs. The outcome of the wager is immediate and unsure, which is decided through the single roll of dice or spin of a roulette wheel. In recent years, online gambling has gained traction as it offers various advantages such as cashless transactions, accessibility through electronic devices, customizable budgets, and real-time gambling experiences.
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What are the growth prospects and trends in the industry?
The market is primarily driven by the legalization of online gambling platforms by the Government of the United States. This has led to a significant rise in the number of visitors to casino and gambling websites, thereby impacting the market growth.
The development of electronic gambling devices (EGDs) consisting of in-built software that mimics the experience of a local casino is also fueling the market growth. For instance, market players have launched a video lottery terminal (VLT) that offers advanced technology and customized electronic slot machines, spinning reel slot machines, video slot machines, and electronic poler games.
The spread of the coronavirus disease (COVID-19) pandemic across the country has increased the growth of online gambling due to several lockdown restrictions imposed by the government. Furthermore, technological advancements, such as the development of virtual reality (VR) and 3D animation that offer a realistic and immersive gambling experience to the players, are expected to provide a favorable market outlook in the coming years.
Key Market Segmentation:
The report has segmented the United States online gambling market based on game type, device and region.
Breakup by Game Type:
- Sports Betting
- Football
- Horse Racing
- E-Sports
- Others
- Casino
- Live Casino
- Baccarat
- Blackjack
- Poker
- Slots
- Others
- Others
Breakup by Device:
- Desktop
- Mobile
- Others
Breakup by Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape With Key Players:
The competitive landscape of the United States online gambling market has been studied in the report with the detailed profiles of the key players operating in the market.
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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