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The Growth of Online Gambling in the United States

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Online gambling represents a fast-growing industry in most countries on the planet. Some adopted it sooner, some later, the others are yet to embrace the niche, but nobody can deny online gambling’s rapid expansion. We all knew the United States as one of the strictest markets for this specific industry in the last couple of decades. However, everything changed in May 2018. With the help of the experts at bettingPicks4you we have summarized below all the most important changes in recent years when it comes to online gambling in the US.

The PASPA repeal                                                                                                                     

May 14th, 2018 was a crucial day in the history of online gambling in the United States. On this day, the US Supreme Court ruled out the Professional and Amateur Sports Provision Act (PASPA). It was an act that prohibited any kind of online sports betting across the country. Its repeal gave the option to all individual states to make their own decision on this matter.

The earliest movers were New Jersey, New York, Delaware, Mississippi, and Pennsylvania. Monmouth Park Racetrack in New Jersey thus became the maiden sportsbook available for bettors outside of Nevada. As expected, New York closely followed the pattern, allowing its residents to place legal wagers on their favorite sports teams. We all know that New York is a huge betting market as a home to the governing bodies in some of the most popular professional leagues such as the NBA, NFL, and MLB.

The new gambling culture in the states

It is hard to ignore the inevitable connection between gambling and the United States. More than half of the planet’s leading casinos are located in North America. The American Gaming Association released exciting data back in 2021, showing that commercial gambling has accrued around $53 billion in revenue in one year. You add taxes, media, TV ads, and a host of other gambling-related pastimes to the mix and you can easily understand the benefits for each state that has adopted online gambling by now.

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Data Bridge Market Research

Data Bridge Market Research deals with growing appeals, future trends, and the sizes of markets. They have put together a great market analysis for online gambling in 2022, utilizing advanced techniques and recognizing both challenges and opportunities in the market in the process. The obvious growth in the popularity of online gambling has cleared the path for the continuous rise in all kinds of numbers in this sphere.

The main studies have shown a huge rise of 14% per unit for the online gambling market in the United States from now to 2028. By then, it is estimated that the market will bring close to $145 billion annually.

It is easy to understand the reasoning behind such numbers. The constant growth in online gambling comes in conjunction with the continuous rise in technology. New smartphones appear every single year, bringing online casino games closer to people. Digital e-wallets also help the case, making it possible for people to place wagers in just several clicks without the need for leaving the comfort of their homes at all.

Additional growth expected

We have witnessed many more studies on this matter and all have one thing in common. The market is only going to get bigger in the years. UnivDatos Markets Insights are thus predicting a 10% growth in the online sports betting industry in the United States from now to 2027.

Their analyses show the continuous expansion of each sport, including hockey, basketball, football, and baseball, etc. as well. We can already see the biggest online betting companies in the United States heavily advertised in pretty much any significant sports show or match in the country.

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To sum it all up, the United States represents a huge market in this industry both because of the local gambling culture (Americans love casinos) and the availability of huge sports franchises that constantly attract attention (just think of Super Bowl) even for people who are not a massive sports enthusiast. In these circumstances, further online gambling growth in the United States seems inevitable.

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Canada

Soft2Bet granted Ontario Certification of Registration and readies for imminent launch

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Ontario Certificate is hugely promising as Soft2Bet continues its regulatory expansion

Soft2Bet, a leading provider of online betting and gaming solutions to regulated operators worldwide, is delighted to announce that it has been granted a Certificate of Registration in Ontario, Canada’s largest province, moving it one step closer to being able to launch its Tooniebet.com iGaming brand.

Obtaining its Certificate of Registration (Nbr: OPIG1280338) from the Alcohol and Gaming Commission of Ontario (AGCO) will enable Soft2Bet to continue its expansion into the world’s largest regulated jurisdictions.

Ontario has been a major success story for regulated online sports betting and casino in North America in the past two years. The province launched its regulations in April 2022 and latest figures for the fourth quarter of 2023 showed that operators recorded a 21% rise in wagers to CA$17.2bn and a 22% increase in gross gaming revenues to CA$658m, the highest ever revenue total in Ontario’s wagering history. Online casino was the main driver of this growth and generated CA$13.7bn of the total stakes and CA$471m in GGR.

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Elisabeth Isaksson, Head of Regulatory Compliance at Soft2Bet, commented: “Being registered with the AGCO in Ontario is testament to the work our compliance and regulatory teams are doing daily to enable our continued expansion in the world’s largest regulated markets. We’re immensely excited about taking our first steps in North America and look forward to licensing and launching in more jurisdictions in the region.”

Chief Business Development Officer Martin Collins added: “This Ontario certification is another significant and important step in our corporate expansion plans. It fits perfectly with our stated aim of growing our regulatory footprint and we very much look forward to continuing forward on this path.”

Soft2Bet is also actively working to obtain a licence in New Jersey and continue its expansion in the Americas. This activity comes after the group obtained B2C licences in Italy, Greece and Romania in 2023.

 

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Hacksaw Gaming and DraftKings Score Again in Ontario

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2023 saw Hacksaw Gaming go live in West Virginia and New Jersey and now we have made our long-awaited entry in Ontario, Canada. Securing this trio has hit new heights and hopes for further successes throughout the rest of this year.

DraftKings Casino entered the iGaming market in Ontario in May of 2022 and partnered with Hacksaw Gaming in the back end of the same year. As Ontario’s regulated iGaming market only went live in April of 2022, the pair have given an outstanding performance with effective launch strategies and expansive footing in North America.

Apart from gaining an unprecedented reach across regulated markets, the mobile-friendly format of Hacksaw Gaming games can be visited on phone or tablet via the DraftKings Casino app. Boasting an impressive online casino’s selection of over 300 games, DraftKings now welcomes Hacksaw Gaming favourites such as Chaos Crew, Mines, Omnom and Boxes.

“The benchmarks we have set as a partnership are remarkable and we are ready to take on more challenges continuing into 2024,” the Chief Executive Officer for Hacksaw Gaming, Marcus Cordes, said.

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Exploring Canada’s video Game Market: Survey Insights

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Technology has become a great source of entertainment to many. Video games particularly have garnered interest from all demographics. In Canada, the gaming industry has experienced significant growth, fuelled by increased accessibility to gaming platforms and the growth of online gaming communities.

Statistics indicate that a large percentage of Canadians are engaged in gaming activities, whether it be playing console or PC games, mobile games, or online multiplayer games. The popularity of video games extends beyond leisure pastimes, with many Canadians participating in gaming competitions, attending gaming conventions, and consuming gaming-related content on platforms like Twitch and YouTube.

The number of video game users in Canada reflects how broad the sector is, from mobile games to digital video games, download games and live streaming. In 2024, the gaming sector will see millions of users in each of these categories. Statista projects 13.38 million users for digital video games and 7.35 million users for online games respectively. It estimates that revenue in the Canadian video game market is expected to reach US$3,925.00m in 2024, so it is no surprise to observe the increasing popularity of the sector.

Well-known online casino provider BetVictor has compiled some key points from major surveys detailing the video game market to give further insight into its makeup and potential. The gaming culture in Canada is growing, which means the type of games and genres will grow along with the sector. Statista recently conducted a survey of 1 576 respondents aged 18 – 64 who are avid video game players, with telling results. ​​In December 2023, a survey about preferred video game genres in Canada revealed the top four genres as being Action, Action – adventure, Adventure and casual games accounting for 31% of respondents’ preferences.

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David Winter, Marketing Manager at BetVictor notes that “We’ve seen a steady increase in the popularity of action-themed and adventure-themed slots and many providers are exploring how to expand further into this market.”

The popularity of Action games such as platform and fighting games can be attributed to various factors, such as: social interaction, accessibility and inclusivity, social appeal, and cultural influence. With such a diverse audience, all these factors are crucial to understand the appeal of Action games.

In the digital age, gaming has transcended mere entertainment to become a cornerstone of culture, and nowhere is this more evident than in Canada. From coast to coast, a diverse community of gamers is thriving, reflecting the country’s inclusive spirit and passion for technology. Whether it’s the casual gamer enjoying a quick session on their smartphone or the dedicated enthusiast meticulously building a custom gaming PC, Canada offers a welcome haven for all kinds of gamers.

Diving deeper into the Statista results, Strategy games accounted for 29%. This shows us that players have a strong interest in tactical and decision-making games. While role-playing (RPG) and sports games garnered 22% each, simulation and shooters trailed slightly behind at 21% and 20% respectively.

MMO (massively multiplayer online games), as well as MMORPGs (massively multiplayer online role-playing games) and MOBA (multi online battle arenas) came in at 13% and 8% respectively, representing a significant but niche following. With such a diverse array of preferences, the survey underscores the multifaceted nature of interests among Canadian gamers. It highlights the need for game developers to cater for a wide range of genres and gameplaying styles in the Canadian market.

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From action shooter games to role-playing adventures, the industry has something for every gaming enthusiast in the Canadian market. Overall, the popularity of video games in Canada reflects a growing cultural phenomenon, where gaming has become a mainstream form of entertainment and a significant aspect of modern-day leisure activities.

Statistics anticipate a compound annual growth rate (CAGR) of 7.10% for 2022-2027, resulting in a projected market volume of US$24.52bn by 2027. Canada’s online gaming market is experiencing a surge in popularity, with a surging number of Canadian players engaging in immersive virtual reality experiences.

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