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How will the online gambling market develop in the coming years in the USA?
A lot of changes are ongoing in the online gambling market all over the world including the USA. America is an area where online gambling is rapidly growing at a jaw-dropping speed. Tracking and predicting the development of the market in the coming years in the USA is simply a matter of analysis and watching out for noticeable trends and patterns.
One noticeable development is the ever-growing number of players and casinos. You can find top US online gambling sites on Casinovibez that offer genuine casino services and mouth-watering bonuses. They all have licenses and a solid reputation for fair play.
The Online Gambling Market in the USA
US online gambling market is one of the largest and fastest-growing in the world. As of 2018, the value of the US online gambling market was USD 47.57 Billion. According to a report from Industry Stats Report (taking into consideration the COVID-19 period), the value of the market will grow to USD 94.37 Billion by 2025. The US gambling industry is expected to record a CAGR of 10.28% over the stated period.
With so much growth expected from this rich industry, the question is how will it develop in the US in the nearest future. A look at nature, peculiarities, and predicted trends will reveal a rough pattern of development.
1. More Players Expected to Join The Market
The first and easiest development trait to predict is the addition of many new players and gambling companies in the US market. Anywhere there is a profit to make, you can expect people and companies to flock in. The online gambling market in the US is extensive enough for both players and companies to eat from. With the expected growth, expect more people joining in to get a piece of the cake.
2. Further Rise in Mobile Gambling
Already, mobile gaming is the fastest-growing segment of the gambling industry in the US. More people are turning to internet-based gambling especially mobile gaming due to the ease and convenience of play. Also, no payment restrictions contributed to its appeal.
About fifty players of the online gambling population in the US use their mobile phones or tablets instead of using desktops, laptops, or the more traditional forms of gambling. This number is expected to increase as more casinos and gaming manufacturers build casino games that are compatible with mobile devices.
3. US to dominate the online gambling market
The United States makes up the top five countries where gambling activities thrive. An astonishing 1.8 million people are employed in 40 states in the United States from the gambling industry. In the online gambling market, in a few years, the United States will dominate the landscape.
A lot of online innovations are opening up the ground for US dominance such as cryptocurrencies and virtual reality. Government attitude towards online gambling which has historically been a sour point is no longer so.
Many state governments and legislative houses are supporting the promotion of online gambling activities in their states. Harsh gambling laws across the US are now under review as their purpose, which was to stop illegal bookies is no longer relevant.
In America, the following states, New Jersey Nevada, Pennsylvania, and Delaware have set a standard for other states to follow by becoming the first states to legalize online gambling. Delaware and New Jersey have taken it a step further and now permit online casinos and poker sites.
In the nearest future, more states in the US will legalize online gambling including online casinos and poker sites. But for the moment, there are only four states (Nevada, Delaware, and New Jersey) where bookmakers can get a license to operate legally in the US.
4. New Jersey To Dominate the US Online Gambling Market
New Jersey boasts of having the largest market for online gambling in the US. As the online gambling market in the US grows, New Jersey will retain its top spot. Currently, the online gambling market in the state is worth over USD 225 million a year. This number will grow in the coming years with more players coming into the market.
5. Cryptocurrencies and Virtual Reality Technologies to Play Increased Roles
Cryptocurrencies are decentralized currencies that are growing in popularity in the online world. An impressive number of online casinos have integrated cryptocurrencies into their payment options. There are many online casinos globally that operate using only cryptocurrencies. In the coming years, cryptocurrencies such as Bitcoin will play more roles in the industry.
Virtual Reality Games are another technology to watch out for in the coming years in America.
Conclusion
The development of the online gambling market in the US is expected to record satisfactory growth rates in the nearest future. With no setbacks, the market can develop in the future to one of the largest in the world,
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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced details of its planned release of first quarter 2024 financial results.
The Company expects to file its Q1 2024 results the morning of Thursday, May 30, 2024 prior to the commencement of TSXV trading. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results.
| Conference Call Details |
|
| Timing: | Thursday, May 30, 2024 at 10:00 am EDT |
| Dial-in: | 1-800-717-1738 (toll free) or (+1) 289-514-5100 (local or international calls) |
| Webcast: | A live webcast can be accessed from the Events section of the Company’s website at rivalrycorp.com |
| A replay of the webcast will be archived on the Company’s website for one year. | |
Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.
Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness.
Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.
“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”
Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”
iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.
“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.
“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.
In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.
iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.
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