Are Online Casinos Growing Faster than Sports Betting in the USA?

Undoubtedly, online gambling is one of the world's most popular industries. With technology becoming more sophisticated and widely accessible, economic advances and global impacts have only grown.

As this market becomes more and more active, online casinos have even been focusing on rolling out totally mobile-friendly platforms. There's no doubt that every company, regardless of industry, is always looking to improve how they operate on mobile platforms.

Online casinos and other gambling platforms that provide interactive and immersive services should be as accessible as possible through these platforms, however.

The growth of online casinos in the U.S

According to forecasts, the online gambling market in the United States will grow by 17.32% from 2021-2026, from a value of USD 1,978.57 million in 2020. The online gambling industry has flourished more than ever because of the advancements and pivots it has undergone

Globally, online gambling is estimated to be worth almost $100 billion by 2023, according to experts. So there is no doubt that it is a rapidly growing market in the U.S. 

There is a digital revolution happening everywhere. Casino operators, in particular, will be able to innovate the way they provide their services to customers thanks to technological advancements. These companies are not just gambling companies anymore, they are effective tech companies as well.

As the technologically-driven societal landscape continues to change, casino operators will find it difficult to remain relevant without adapting to this new phenomenon.

The growth of Sports Betting in the U.S

Sports betting became legal in the United States as a commercial industry after the Supreme Court legalized it in 2018. In a highly competitive industry, this has driven many online gambling platforms to pursue rapid growth. Prior to that, sports betting in the United States has experienced significant growth.

In 2020, the sports betting industry had a market value of 203 billion U.S. dollars. There are more than 31,000 businesses within this industry with nearly 197 thousand employees.

US states like New Jersey, New York, Pennsylvania, and Nevada played an important role in the surge of legal sports betting. As for sports betting revenues, New Jersey led all other markets in 2020 with more than half of the national total. New Jersey saw betting on sports reach nearly $6 billion in 2020, with sports wagering handling in December falling just short of $1 billion.

It reflects on the growth of the US market to have a market that can generate nearly a billion dollars in a month of sports betting. In addition to that, sports betting was legalized in more than a dozen new markets, which is sure to lead to an even greater influx of betting activity across the state.

Conclusion

When you look at the numbers for both Sports Betting and online casinos in the U.S its not hard to see that both are extremely popular and bring a lot of revenue to the country. 

But overall, the industry of sports betting seems to be growing a bit faster than online casinos, at least for now. The main reason for this might be hard to say, but one thing is sure, both of the industrys are showing some unbelievable numbers.

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08.08.202123:55 EAT
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