The growing popularity of the sports betting industry online, combined with the uptick in iGaming revenue in America, means the U.S. is emerging as a leader in the digital gambling industry.
The Covid-19 pandemic saw a global shutdown of businesses, some of which have never recovered, but online sportsbooks and casinos were not one of them. If anything, the impact has been extremely positive, with online gaming looking to become a multi-billion-dollar industry by the end of 2022.
Since a landmark ruling by the Supreme Court in 2018, more than 30 states in the U.S. have formally legalized sports betting, and many more states are in the process of making it happen.
A pandemic that had a positive spin
The cancellation and full-on shutdown of many sporting events affected the sports betting industry globally, but now that things are slowly returning to normal, many people are flocking to their favorite sites to play and wager bets. This is apparent in one of the nation’s most popular online casino and sportsbooks.
Similarly, many land-based casinos were forced to close – if not for the majority of 2020, then completely. This left people at home, searching for a distraction, but unable to go anywhere. Online casinos wasted no time in luring clientele in, with great sign-up offers, promotions and bonuses.
Faced with not much to do and an opportunity to win big, customers flooded the internet and found out just how easy and convenient it is to play from the safety and security of your own home.
And this massive boom is going nowhere anytime soon. The 2021 NFL season saw an estimate of at least 45 million Americans betting a total of $12 billion on the games. Although the gross gaming income generated in the U.K. in 2021 was 45%, compared to America’s 4%, many analysts predict that this trend will grow exponentially with so many states legalizing online sports betting.
Merging Sport and entertainment is a win-win
How television channels and media conglomerates have embraced things like fantasy sport and digital sports betting has really shifted the market and increased earnings for both industries in huge ways.
Approaching sports betting as one part of an overall entertainment experience instead of viewing it as only gambling, means casual fans and people who don’t know much about sports will be drawn into online wagering participation whilst enjoying themselves – which is a perspective that is very beneficial to both parties involved.
These partnerships can be seen during sports games that are broadcasted with betting lines running across the television screens. An example would be the Walt Disney Company, the most family-friendly media company of them all, now have a stake in DraftKings Casino and Sportsbook.
States that are coming out on top
Such is the output from individual states across the country that they are now entering global markets in terms of gross gaming income. These markets were, up until last year, controlled and influenced by European countries.
The first half of 2021 saw Pennsylvania and New Jersey overtake Sweden and Spain to become the fifth and sixth largest iGaming and sports betting markets in the world. Soon after, the 2021 NFL season gave Michigan rapid entry into this global sphere.
Regulated and large digital areas like New Jersey, Indiana and Pennsylvania took a knock after the calling off of the 2019/2020 sports year, but they bounced back with a vengeance after last year’s NFL season. States like Virginia are in the process of legalizing sports betting, not to mention Connecticut, New York, Massachusetts, Ohio, Georgia and Maine trying to speed up the legal process.
iGaming and sports Betting are here to stay
Post-covid, America is a country where online gambling and sports wagering is now mainstream. Most people have heard of it and most have tried it. The amalgamation of sports betting with sports entertainment means that even those who aren’t really aware will soon be. Human beings are naturally drawn to thrills, excitement and the opportunity to win some money – iGaming provides all this and more.
