US Online Gambling on the up


Published by Sean Johnson on August 19, 2020 in Industry News

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Online gambling in the US on the up

Given the tumultuous progress of 2020 as a year, it’s not surprising that some things have gone up and others have gone down. One thing that has really gone up however, is online gambling in the US. We’re not surprised, as we know at CTO that this is fun and convenient no matter what you like to play. However now we have data to prove just how popular it is!

Fantasy Sports scoring goals

DraftKings, one of the best known fantasy sports sites, has posted an increase of 8% on their stock price after great performance this quarter. With the uptick in sports being available for bettors to keep up with, players have been able to pick out their fantasy teams with no barriers. Given that this gives an extra edge of excitement to watching the games live, and that DraftKings recently took the step to include PGA offerings onto the site, it’s no surprise that it’s gotten much more popular (and profitable!) in the first half of 2020. Given the greater accessibility of Fantasy Sports across the country, due to the lack of sports betting options, we can only see this further increase as sports events take place throughout the year.

Big casino brands seeing an increase

Given the increase in people staying home and remaining cautious in the face of lockdowns, many casino operators have been concentrating their efforts on making their online game offerings more available. Delaware, for instance, reported a 144.4% YoY increase in July, making their takings $288,675 more than the same month the previous year. People are after entertainment they can enjoy from their own home, and online gambling fits the bill.

But it’s not just lotteries that have captured people’s attention. In states where online gambling is readily accessible, like New Jersey and Pennsylvania, growth has been noted there, too. Golden Nugget are seeking to increase their Golden Nugget Online Gaming presence across the US, after they saw their revenue skyrocket by 85% in the second quarter of the year. Undoubtedly this is due to players opting to play at home rather than at the casino brick and mortar building – but this holds a positive light on the online gambling industry in the US so far!

Improvement of online casino offerings?

So far, sports betting is legal in 22 US states but punters can only place bets online in 8 of them. We aren’t sure if this will be increased as time goes on, but it’s clear that accessibility is becoming increasingly important for players who don’t want to venture out to the casino or bookmaker.

With new deals being agreed regularly, players can look forward to access to new casino games online. With states having legal online gambling seeing a huge increase in revenue, which has either eclipses or bolstered a struggling brick-and-mortar revenue, they’ll be keen to invest further and see where the industry can go.

What’s the outlook for online gambling in the US?

 In many states, online gambling is still very restricted. With lobby groups aiming to prevent it from taking an equal footing online (such as in California) it remains to be seen whether we’ll see a corresponding outreach to US players with the increase in revenue. The companies know that players want it, but will the online casinos be able to get to them?

Many lawmakers are hopeful that it will change for the better, increasing potential tax revenue that the state could make from all winnings and casino operations. States that already have legal betting such as Massachusetts and Pennsylvania already know much this brings in – so players will have to wait and see if legislation will catch up across the states, or if operators will be able to offer the same casino experience no matter where you are.

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