Bright Future for Internet Casino Gambling in the US
Internet casino gambling in the United States is on a path to a promising future, according to insights shared at the SBC Summit North America 2024.
Despite facing several obstacles that impede its expansion and concerns regarding its impact on traditional brick-and-mortar casinos, the overall industry outlook remains positive.
The journey to legalize online casino gambling across the US has been gradual. However, states like Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia have already embraced this trend. Industry leaders and experts strongly believe that the future of gambling is digital.
Elizabeth Suever, Vice President at Bally’s Corporation, highlighted the shift in consumer behavior, particularly among millennials, who increasingly rely on their smartphones for a range of activities, from shopping to banking. She emphasized, “This is where gambling is going to as well,” as reported by the Associated Press.
Challenges and the Current State of Online Gambling
Despite the optimistic outlook, the current market reflects a limited uptake of online gambling. While online sports betting is available in 38 US states and Washington D.C., the expansion of internet casino gambling remains minimal. Notably, even Nevada, a gambling hub, only offers online poker without extending to other casino games.
Shawn Fluharty, President of the National Council of Legislators from Gaming States, pointed out the significant disparity between the rapid growth of sports betting following the 2018 US Supreme Court decision and the stagnation in online casino gaming expansion. Nonetheless, he remains hopeful about the future of iGaming.
Brandt Iden, Vice President at Fanatics Betting & Gaming, echoed this optimism, stressing the importance of integrating online gaming into the industry for overall success. He also underscored the need for industry efforts to educate legislators about the advantages of legalized online platforms over illegal offshore gambling websites.
Addressing Concerns in Online Gaming Expansion
While the industry’s outlook is positive, there are ongoing concerns about the potential negative impacts of widespread iGaming in the US. These concerns include fears of increased addiction rates and the potential cannibalization of revenue from physical casinos.
Supporters of online gambling argue that iGaming can complement traditional casinos and drive economic growth. Adam Glass, an executive at Rush Street Interactive, emphasized the potential for creating new jobs and fostering synergy between online and offline gaming operators.
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