by At various congresses, such as the East Coast Gaming Congress, executives from multiple online betting and gambling enterprises have continued to highlight the expansion of online casinos across the United States. The technology companies which these gaming companies partner with have also pointed out the development of infrastructure and regulatory apparatus for online casino gaming to develop.
There have been a series of significant events and developments which have marked important milestones for the online casino industry. Whether users and gamblers are simply exploring sites and apps for online casino news, gaming companies have accomplished significant milestones to currently embrace growth and expansion.
Consistent Record-Breaking Revenue Figures
Currently, 31 states and Washington, D.C., offer legal sports betting. A few also provide online casino gaming. The number keeps growing, and it is expected to increase in the next several years. There is indeed one major factor that continues to favor the expansion of gaming companies such as online casinos.
Revenue is one of the most significant indicators of success in today’s corporate world. For major gaming companies, constant record-breaking figures have become the jackpot to pursue. This is now the common goal for these companies and state government bodies that also want to make the most of every method to tax those revenue streams.
Since Internet gambling launched in the last decade, New Jersey casinos have earned close to $5 billion just from online players. Data from the American Gaming Association, the US gaming industry’s national trade group, shows that these figures have and will continue to grow.
For New Jersey, that’s nearly double the $2.47 billion Pennsylvania casinos have made through their online platforms since July 2019. Michigan has reported $2 billion online since January 2021, while Connecticut has recorded over $200 million since October 2021.
For other states, such as West Virginia, the $150 million in revenue since July 2020 has also proven the growing popularity of online gaming. Finally, Delaware’s $50 million mark since December 2013 has become solid evidence in favor of online casino gaming.
Multi-State Gaming Associations and Pacts
Certain legal pacts have also become a major spark for the growth and expansion of online casino gaming. For instance, the Multi-State Internet Gaming Agreement has allowed various states to join and combine pools of players that can share their passion for online casino gaming across state lines.
The eight-year-old organization is now thriving in the online gambling sector, which produced more than $1.1 billion in 2021, just after its first year of operation. The inclusion of this pact has awarded states such as Michigan the ability to get involved in Timbuktu state operations intended to hook more players into the online casino industry.
For individual players, there is a high reward for these types of associations. Any casino player that has ever signed up for major poker online tournaments, national or international, will understand the value of player pools.
In this case, the more players that join a tournament, the larger the prize pools that can result from having nationwide tournaments where states combine players. In the past, U.S. players were incentivized to participate in online poker events against players from other countries.
However, some regulations are changing to allow all these actions to remain in the U.S. This ensures a legal and safe way to make money in the country. It also means the protection of each gaming provider and the backing of various state government bodies.
More Options Coming To States
ing companies, this means the capability to add more users to tournaments, thus increasing participation and prize pools. However, this always translates to bigger revenues.
It is up to every state to determine whether this is a legitimately beneficial strategy. However, gaming providers such as online casinos are all-in to promote the growth and expansion of gaming.
Sometimes all it takes are a few legal steps to allow gaming and, more specifically, online casinos to experiment with exponential growth. More than just significant events, these have become the true pillars for the expansion of online gaming in the country.
