In recent years, the gambling industry in the US has witnessed considerable cultural changes and readjustments in how we engage. Gambling has been significantly affected by technological advancements and economic trends, resulting in a trade-off between traditional casinos and online participation for many.
Moreover, many players have readjusted to gaming on the internet due to increased convenience and flexibility of participation to the relative detriment of in-person gambling. Overall, despite various legal obstacles, the gambling industry in the US is generating unprecedented gains across physical and digital outlets. This article offers an overview of the competition between land-based and online casinos in the USA offered here.
Land-based gambling in the US
Gambling at a physical casino or sports betting venue is undoubtedly a superlative experience. For example, this can be witnessed in recent efforts of online casinos to accurately recreate various aspects of in-person casino gambling through virtual reality (VR). In addition to the heightened atmosphere and social elements, for many the traditional experience of land-based casinos over online gambling is unquestionable.
For example, most physical casinos accommodate cashless gaming or booking a private room, with most facilitating sportsbook gambling. Overall, despite a minor overall decrease in physical casino engagement, statistics reflecting physical visitors increased in 2022 representing a 1.8% increase from 2021. Land-based casinos generated a revenue of over $12 billion in 2022, remaining relatively stable since.
Online gambling statistics in the US
However, the online gambling industry is arguably more successful at producing innovative technologies than its land-based counterparts. This has significantly contributed to its popularity, stimulating the interest of prospective gamblers and adapting to hectic lifestyles. For example, it is anticipated that online casinos will reach a net revenue of over $90 billion by the end of 2023.
In the US, 7% of all adults aged 18 and older (representing 23.1 million people) are estimated to bet online. Moreover, Statista reported in May 2023 that the online gambling market in the US reached $9.5 billion in 2021 – an increase on the total of $8.7 billion from 2020. This rapid rise in engagement is anticipated to continue, making the online gambling industry a particularly lucrative sector.
Which states have legalized online gambling?
Online casino games and/or poker are currently legal in Connecticut, Delaware, Nevada and New Jersey. Pennsylvania followed in 2017, West Virginia in 2019, and Michigan in 2021. However, in several states, the pastime remains prohibited – including Utah and Hawaii. Meanwhile, sports betting is legal in more than 30 states, enjoying more relaxed legislation statewide.
In Washington, Kentucky, Colorado, Georgia and Florida there are outlets for limited online gambling, with many local governments pushing for policies to pass new legislation. For example, New York and Indiana are among those who could legalize online poker or casinos (or both) in the future.
Concluding remarks: Land-based or online?
Determining whether to engage in physical or online casinos is entirely up to personal preference. However, it is undoubted that online gambling has radically transformed gambling and presented welcome competition among operators. For example, innovations in the online sector have resulted in innumerable contemporary versions of traditional and contemporary games and live sports betting options. Overall, gambling outlets have presented radical new developments – physical casinos may have to adopt innovative technologies to remain competitive.