2020 was a tough year for many industries, but there was one sector that continued to thrive as more people stayed at home… online casinos. It is true that online casinos have been enjoying steady growth over the last 10 years. However, in 2020 the industry truly exploded into the mainstream, especially in the United States.
The doors have opened, and casual customers are now embracing online gambling. This is a global trend also happening in established betting markets. In the U.S., this trend is being driven by states now having the ability to create legal gambling legislation.
As online casinos become mainstream, the industry is expanding. For users, this means access is better than it has ever been. Not only can customers visit online casinos, but they can also check out affiliate material such as a STS.bet review and promo codes.
Of course, more customers mean there’s plenty of good news for operators of online casinos. Many are now multi-billion-dollar companies that can see ongoing growth. In fact, analysts predict the online gambling industry will continue to expand through the next decade.
One of the growth markets will undoubtedly be the United States. Amazingly, in the world’s biggest economy, online casinos and sports betting is still in its infancy. For decades, states were unable to allow any kind of casino gambling, whether online or land based. In 2018, a landmark federal decision abolished The Professional and Amateur Sports Protection Act (PASPA).
Many states quickly developed gambling regulatory frameworks. By 2025, most states in the country will likely have some allowance for casinos. However, online gambling remains at a crossroad, with only 14 states currently allowing online gambling. That said, the number will grow, but it may not be as quickly as land-based betting.
Still, when the United States gets up to speed with online casinos, the industry growth will be significant. That’s why casino companies are already laying the groundwork. It is worth noting customers throughout the U.S. can bet at online casinos. The laws only prevent states from hosting online betting companies.
There’s no doubt that the future of the gambling market is online, even in the U.S. Baby steps means that first there needs to be a broad nationwide network of bricks and mortar casinos. Once that physical industry is in place, regulators will keep looking to the online market. These days, it’s not just the casino industry that wants it.
Many governments do because they see the available tax dollars from a booming online casino market. And then there’s the customers, who are showing with record participation in online betting that they want the ability to access casinos on the internet.
Elsewhere in the world, online casinos are becoming one of the fastest-growing pastimes, attracting casual customers in a way they never have before. What’s amazing is, this cycle seems to still be going and the trend shows few signs of stopping.