Online gambling in the United States has been a divisive topic over the years. Strong cases have been made both for and against the practice, and it has even caused concern on the effect it will have on land-based casinos.
However, one thing has been clear over the past few years – the industry is quickly growing. This is especially after New Jersey’s Supreme Court victory in 2018, which resulted in a nationwide go-ahead for states that wish to legalize sports betting.
The rise of the online gambling industry
Gambling in the US is primarily a matter of state law, and the U.S. Justice Department allowed online gambling as long as it is legal at the state level. The legalization in various states didn’t take long, and 20+ states have already legalized sports betting.
However, only a few have sanctioned online Casinos, and New Jersey leads the way. One of the fastest growing investors in the industry is Rush Street Interactive (RSI), which owns Sugarhouse Casino, an online casino that launched in 2016. The company also went ahead to launch online sports betting in Indiana, Pennsylvania, Colorado, and, most recently, Illinois.
Many other companies have also joined the industry, and the US market for online casino and online sports betting is now valued at $33 billion. This market value is expected to grow at a CAGR of 14.78% in the next five years.
Innovation is driving the industry
The gambling industry has been quick to embrace technology. And according to cybersecurity news, one of the most recent applications is to curb fraud. Apart from this, technology is also being used to edge out the competition by providing the best experience for users.
Live online games to become more common
One of the best innovations in the industry is the ability to play live. This technology tries to bring casino authenticity to online gaming by allowing live dealers to run online games in real-time. The dealer does physical actions, and these are then translated into data through Optical Character Recognition (OCR) technology. The results of the game are also determined by the dealer rather than a machine.
This technology has already taken shape, and it is expected to become more popular in 2021 and beyond.
A more immersive experience
With more and more players joining the igaming world, the next step for online casinos has been to provide an immersive experience. This has already taken off, with some casinos using Virtual Reality (VR) to impose players in a virtual environment.
Players can choose the location of their game from famous casinos all over the world and set up a game with a live dealer. They can play blackjack, poker, roulette, or slot machines. All the while, they are able to communicate with each other.
The level for immersion technology is now heading towards integrating Augmented Reality (AR). This technology will be used to superimpose real-world objects into the virtual world. This way, players can see a dealer enter the room, and they can even interact with objects and shake hands!
Overall, the industry is still taking shape in the US, but going by the way things are looking in New Jersey, the future of online gambling is as bright as it comes.