The worldwide gambling industry looks set for another boom, with more people in the United States expected to able to legally play their favourite games online over the next few years.
At the end of last year, the global online gambling market had reached almost $46 billion and is expected to more than double by 2024.
Delaware, Nevada and New Jersey were previously the only states to legalise online gambling, but Pennsylvania became the fourth and largest to pass legislation in 2017 and more have indicated that they’ll soon be joining the party.
Online gambling has been a hot topic in the USA with multiple bills introduced on the issue, some of which gained momentum, while others failed in the Legislature at an early stage.
Pennsylvania took its decision after the US state’s House of Representatives passed a bill featuring legislation that would regulate internet gambling.
The likes of California, Michigan and Massachusetts are amongst the states aiming to legalise the practice, although each faces localised issues to overcome before it becomes law.
Land-based casino operators have expressed concerns that they would lose revenue, although the growth of that industry in Great Britain suggests those fears may be unfounded.
New Jersey’s regulated online gambling market revenue rose by nearly one-quarter in 2017, with sites such as https://www.onlinecasino-nj.com/ helping to add nearly $250 billion to Atlantic City casinos’ balance sheets.
Massachusetts’ casino industry is still in its infancy, but the prospect of legalised and regulated online gambling doesn’t seem to be holding it back.
Plainridge Park is currently operational and two casino resorts – Wynn Boston Harbor and MGM Springfield – are both under development, despite the moves to introduce new online gambling legislation.
California has been lobbying for legalised online poker for years, but resistance from the lucrative horse racing industry has prevented it from making any significant progress.
However, a recent report looking into the effects of online gambling in New Jersey has given California and other states hope that they can benefit from the industry in the future.
The iDEA (iDevelopment and Economic Association) sponsored report looked at financial and sociological data gathered since the 2013 regulation of online gambling in New Jersey.
It was found to have directly and indirectly generated almost $1bn in output up to 2016.
Over 3,000 jobs were created in the industry in New Jersey, highlighting the enormous potential for other states to embrace the culture of online gambling in the future.