Will the US Sportsbook Industry Follow European Development?

Sportsbook Industry

Estimates show that the global online gambling scene will be worth over $97 billion by 2025. These numbers would seem far-fetched just 5-years ago. So, what has changed in the iGaming scene?

Veteran gamers will tell you that the European and US online gambling markets are experiencing rapid growth—a trend that is evident across the global gambling scene. The rise in online gambling that is driven by affordable mobile phone technology, access to fast internet, and advanced streaming technology is making online gambling a fun pastime.

You are in the right place if you want to explore some of the similarities and differences between Europe’s and United States’ online gambling markets. You will also find the answer to whether the US sportsbook industry will emulate the development of their European counterpart if you stay with us to the end.

Let’s start by acknowledging that most European countries have straightforward and a relaxed approach to gaming. Unfortunately, the same can’t be said about the United States’ gaming scene.

Each state in America gets to set its gambling laws. For that reason, navigating America’s gambling scene is complicated. However, it is worth noting that New Jersey and Nevada have historically legalized gambling—something that is slowly changing as more states embrace gambling.

Rules of Online Gambling

Brands like Betfair, Paddy Power, Bet365, William Hill, or Ladbrokes are household names even outside Europe. You might not know this, but the strong brand-power of European sportsbooks allows these bookies to dominate regional and even global gambling markets.

The UK is home to most of the world-renowned gaming platforms. Meanwhile, Ireland is another European destination that is giving UK casinos a run for their money. Italy, Norway, and Finland are also emerging as home to promising iGaming platforms.

Many critics will agree that the United States has been slow to catch up on the potential of iGaming platforms. Nevertheless, the ongoing legal changes at the state level ushers a promising future for America’s budding gambling market.

Changes in online gambling in the United States

While the rest of the world calls it football, Americans call it soccer. So, it might take some time and effort to get on the same page, something that DraftKings—an American iGaming platform—understands.

DraftKings is creating innovative real-money games around popular sports in the US as a way to entice players. Baseball Blackjack is one of the popular DraftKings offerings that is attracting die-hard sports enthusiasts to the betting tables. Baseball Blackjack is a competitive game where players bet against the possibility of a draw.

Many players enjoy the title because of its strong visual appeal and direct relation with action taking place on the baseball pitch. Baseball Blackjack also shows how US online sportsbooks are being innovative as they seek to popularize sports betting.

Betting on Sports in Europe and the United States

As earlier hinted, there are various differences between the gambling market in the US and Europe. For instance, players must place their bets (sportsbook wagers) at the venue where the sport is taking place. In contrast, players in European countries and other regions of the globe can wager on their preferred games online or in person.

It is best to note that the US gambling laws and regulations aren’t as clear as Europe’s gaming laws. For example, gaming enthusiasts in California can enjoy legal sports betting. However, they can’t place real money bets on the games since accepting wagers for sports bets is illegal. For that reason, horse racing fans in California must use pari-mutuel betting.

Please remember that pari-mutuel betting is a form of gambling where the sum of total bets on a runner is put in a pool. Players receive a percentage of the pool if the bet wins.

Changing gambling image

Europeans and Americans have a different general perspective on gambling. In Europe, gambling is considered a fun pastime activity that improves an individual’s quality of time. Moreover, Europeans believe that gambling adds to the excitement of watching or taking part in different sports.

In contrast, Americans tend to think of gambling in a negative light. As a result, Americans view any kind of gambling with suspicion, and this is reflected in the country’s strict gaming policies.

Fortunately, there are signs that gambling is finding its home in the US, and it’s not just in New Jersey or Nevada. Many states are legalizing gambling as they look for more revenue sources in the form of taxes.

The future of gambling in Europe and the US

Different forms of gambling will remain popular in Europe and the United States, especially after considering the different popular sports in the two regions. Yes, of course! Skill and chance-based games will continue to rule the game lobbies of European and American sportsbooks.

It is also important to note that the popularity of these games will depend on how well gaming companies innovate and incorporate new ideas into existing game formats in a bid to keep the titles appealing even to demanding players.

Technology is at the center of the boom of gambling in the US and Europe. For that reason, most of the gaming demographic comprises young technologically adept players, and this should be the primary target audience of any successful European or American sportsbook brand.

Increasing user engagement and interaction also promises to make sportsbook offerings popular in the US just as in Europe. Therefore, gamers should expect to be treated to games rich in betting options and features that enhance player interaction.

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