It can be tough to improve on the industry of gambling without new tech innovations. After all, the premise is pretty simple! Everything else is about the experience. With younger people participating in gambling, less people going to traditional casinos, and more opportunity than ever online, there is definitely a lot of change that is set to occur in the American gambling industry. Here we take a look at some of the most important things that experts believe will happen in the very near future.
Forty four states give you the opportunity to legally place bets online. This is a far cry from the few states in which physical gambling is legal. The US gambling industry is following the money and we are seeing more brands make their way onto the Internet. Although many online casinos currently restrict US residents, changes in regulation may result in future opportunities to create a more accessible market.
For example, regulated gaming creates more than $100 million in tax revenues for the state of New Jersey. Although other states have been slower to adopt such robust measures for gambling online and tax collection, you can bet that lawmakers are looking at the potential here. The industry fragmentation is the number one reason that many states have not moved as far as New Jersey, many experts believe.
Many states have also adopted online lottery sales as well. Lottery agencies are making the switch to the online platform, but there are some technological hurdles to overcome.
Ultimately reports suggest that attendance is slowing down in places like Vegas so digital expansion makes sense to many.
One of the biggest drivers of online gambling has been the world of fantasy sports. Daily fantasy sports have opened up the floodgates for other types of gambling to make their way successfully through congressional legal hurdles. The model for the industry reminds many experts of Uber, and there have been some powerful lobbies from pro sports partners in favor of industry expansion.
Sports betting is still highly regulated in the United States, and it represents perhaps the last great frontier in this point. Should legislators loosen up the rules here, it would definitely serve as a game changer for many other parts of the gambling industry. Online horse betting is perhaps the most successful sport online, as it is the most widely available. Operators here are looking closely for ways to piggyback other forms of gambling on top of old school horse betting to expand the customer base.
Online Skill Gambling
One of the ways that sports has been able to sneak into doors where other gambling has found problems is because of the skill factor of picking winners. In the United States, the skill factor counts for quite a lot. The genre is still emerging as a whole. However, skill betting is beginning to attract non-traditional gamblers into the world of gambling. These are powerful companies that would be able to lobby quite effectively, say many experts. Skill gambling is also making way for esports betting.
These are only a few of the ways that the gambling industry of the United States is moving itself forward. Innovations like social casinos are using virtual reality and other forward thinking technologies to take the experience of gambling to a new level in the virtual world. This is another important way that gambling will expand in the United States. If companies can create a way for people to get the real experience without leaving home, they will be one step closer to a larger and better industry. Only time will tell, but the industry is definitely looking up momentum.