The thriving USA iGaming market was valued at over $1.9 million as estimated in 2020 and according to the latest reports, the market is expected to grow at a staggering rate of 17.32% between 2021 and 2026. For the global economy, the last year was full of challenges and needless to say, the coronavirus pandemic has thrown many industries and businesses into unfamiliarity and uncertainty. One industry that has been thriving during these rather challenging times was the iGaming industry.
In 2020, the iGaming industry has been on the rise with more and more brands emerging on the global scene. Many online casinos generated record gross gaming revenues including online casinos operating in Nigeria. If you want to learn more about the best Nigerian online sports betting and online casino gaming sites, visit www.bettingsites.ng.
Back to the global iGaming industry, it is predicted to thrive even more in the following years since new amazing opportunities have already presented themselves. Needless to say, the US iGaming industry is also predicted to grow since more states plan to legalize online betting and gambling activities within their borders. The current rate of regulated online casino gambling and sports betting expansion in the USA is truly tremendous and this does not come as a surprise considering the fact over twenty-five US states have already legalized those activities.
The US Online Gambling Industry
Not so long ago in 2018, the United States Supreme Court finally made a decision to legalize online gambling activities. Before this historic decision, American players were not allowed to legally engage in online gambling activities so many wagered illegally. New Jersey was one of the states that advocated online gambling legalization for many years. Once the federal ban on online iGaming activities was struck down in May 2018, New Jersey was the very first state to introduce legal, regulated iGaming sites and soon many other states followed.
At the moment, the states of Hawaii and Utah are the only US states that have not and probably will not legalize online casinos and online sports betting sites. In these states, all forms of land-based and commercial gambling activities are also illegal. Commercial casinos are legally operating in Atlantic City and Nevada while there are over five hundred tribal casinos throughout the county. In Virginia, Vermont, South Carolina, New Hampshire, Kentucky, and Georgia there are no tribal or land-based casinos.
Online gambling activities are perfectly legal in West Virginia, Rhode Island, New Jersey, Pennsylvania, New Hampshire, Iowa, Nevada, Indiana, Illinois, California, Delaware, and several other states. The United States is most certainly home to one of the most profitable, fastest-growing iGaming industries and one of the latest reports by Mordor Intelligence suggests the same. According to the same report, the biggest iGaming market is in Europe but the fastest-growing market is in the United States.
Nevada and Its Flourishing Gambling Industry
The state of Nevada is worldwide famous for gambling with Oklahoma, California, and Colorado closely following. Several years back, there were over three hundred casinos in Nevada and this number has grown to reach over four hundred and sixty casinos including Las Vegas casinos, the dream destination of any gambler out there. When it comes to the state’s online gambling industry, all online casinos operating in the state are licensed by the Nevada Gaming Control Board.
According to the latest report released by the Nevada Gaming Control Board, Nevada gambling establishments have set a new impressive monthly win record back in July this year. Casinos in Nevada reported generating a record profit of $1.3 billion in the month of July. For Nevada casinos, July was the fifth month in which casinos generated profits of over $1 billion. Before July, their monthly win record was $1.23 billion Nevada casinos generated in May.
Commenting on the latest reports, Michael Lawton who works as an analyst for the Nevada Gaming Control Board said that Nevada casinos benefited from many special events that occurred in July such as the grand opening of the Resorts World Las Vegas, Cirque du Soleil shows, and a couple of big concerts with high profile musicians such as Bruno Mars. You can read up on some of the events by checking out the review vulkan vegas casino. The state of Nevada and its gambling industry has also benefited from a UFC event at T-Mobile Arena featuring Dustin Poirier and Conor McGregor and of course, more leisure visitors.