According to a new report by Vixio, a top provider of regulatory intelligence solutions, the U.S. is poised to become the world’s largest regulatory iGaming market by 2024. According to the semi-annual U.S. iGaming Outlook report, the U.S. iGaming market is expected to grow 22.1% from 2023 to 2024, reaching $8.2 billion in total game sales (GGR) by 2024. This growth will help the U.S. break the $7.5 billion GGR record set by the U.K. iGaming segment and achieve a significant milestone in the global gaming landscape.
Here, Vixio’s report, which is available in full, details the remarkable expansion of the iGaming market in the United States, which has been accelerating since 2019. This surge is attributed to the evolution of player behavior and the synergistic growth of online sports betting, which has been impacted by the COVID-19 pandemic. The legislative drive and consumer adoption of online sports betting have greatly facilitated cross-game sales opportunities in betting. New Jersey, a relatively mature iGaming market, has nearly quadrupled in size between 2019 and 2023.
Vixio expects the value of the U.S. iGaming market to reach $10.8 billion to $13.7 billion by 2027. This forecast highlights the long-term growth potential of the U.S. in the global iGaming market and its importance.
the challenge of expanding regulations
Despite impressive revenue generation, the expansion of iGaming regulations faces significant hurdles. “America’s current overtaking of the United Kingdom highlights America’s iGaming paradox in 2024,” explains James Killsby, senior analyst in compliance with gambling regulations at Vixio and co-author of the report. He points out that while online casino games are flourishing in states like New Jersey, Pennsylvania, and Michigan, efforts to expand iGaming regulations to additional states are facing resistance. The opposite centers on concerns about potential imbalances in competition between land-based casino operators and trade unions. 카지노사이트 모음
As of June 2024, seven states had legalized online casino games, with Rhode Island the latest to join in March 2024. Six states reviewed legislation to approve iGaming during the 2024 legislative session, but none of these bills were approved, highlighting a complex regulatory environment.
The U.S. iGaming Outlook Report is part of the Outlook series that Vixio admires, offering forward-looking intelligence and comprehensive research into critical parts of the global gambling industry. The report’s analysis builds on Vixio analysts’ insights into recent regulatory developments, market data and legislative proposals, and policy trends. The semi-annual report is in addition to Vixio’s monthly U.S. Sports Betting Outlook, which focuses primarily on the sports betting market but also covers the online casino, poker, and lottery sectors.