Online Gambling Market Size in the US to grow by USD 2.22 Billion | 16.00% YOY Growth in 2022 | 17,000+ Technavio Research Reports

The potential growth difference for the online gambling market in the US between 2021 and 2026 is USD 2.22 billion, as per the latest market analysis report by Technavio. The report identifies the market to witness a decelerating growth momentum at a CAGR of 12.47% during this period. 

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Key Market Dynamics:

• Market Driver
• Market Challenges

The easing of government regulations and wider reach of online gambling are some of the key market drivers. The online gambling market in US comprises different types of games, and the rewards also differ from one game to another. The rewards are given in the form of physical goods as well as monetary benefits. However, factors such as frequent changes in gambling laws will challenge market growth. The online gambling market in US enables players to use virtual money, which has reduced the risks related to cash. Some online casinos pay the winning amount in virtual currency, which can then be used to play other games or may be redeemed for cash. This also helps vendors to keep track of the spending history of customers and create customized marketing plans. 

However, the frequent changes in gambling laws will be a major challenge for the online gambling market in the US during the forecast period. Online gambling vendors in the US are wary of the sudden changes in the laws and regulations regarding online gambling since the legalization of online games in the country in 2012. With the Internet boom in the 1990s and the increased popularity of online gambling, the Department of Justice and US Congress explored and examined the existing federal laws to find how to apply them to Internet (online) gambling, which led to the introduction of new US online gambling laws as well.

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Key Segment Highlights

By End-user

• Mobile
  The mobile segment held the largest online gambling market share in the US in 2021. The segment will continue to account for the largest share throughout the forecast period. The busy lifestyle of the people in the US and the rising preference for portable devices for hassle-free use are the main reasons for the increased share of this segment in the online gambling market. The US is one of the most technologically advanced countries in the world. Another reason for the increasing share of the segment is the increase in the number of games offered through gambling apps.
• Desktop

By Gender

• Female
  In 2021, the female population contributed significantly to the online gambling market in US, accounting for a share of 57%. One of the major reasons for the growth is the convenience and anonymity that gambling privately on personal devices with no location constraints provides women. There are numerous online casinos that encourage women gamblers. For instance, Cameo Casino was the first woman-centric online casino launched in the US with the slogan, "Made by women, for Women in 2020." 
• Male

View our sample report for additional insights into the contribution of all the segments and regional opportunities

Top Market Player Insights

The online gambling market in the US is fragmented and the vendors are deploying growth strategies such as investing in planning, designing, developing, acquiring new players, and expanding their existing facilities to compete in the market. Vendors are also investing in planning, designing, developing, acquiring new players, and expanding their existing facilities.

Some Companies Mentioned with their Offerings

• 888 Holdings plc: The company offers online gambling services where one gets bonus for first deposit of 200 dollars, under the brand name of 888 Group.
• Ballys Corp.:The company offers online gambling services where one can play the most exciting casino games on the web, from traditional Roulette and Blackjack to the latest Video Slots featuring huge jackpots and cash prizes, under the brand name of Dover Downs.
• Betfair: The company offers online gambling services where anyone can participate around the world and enjoy various games, under the brand name of Betfair.
• Bovada: The company offers online gambling services with huge variety of casino games for betting pleasure, including table games, a huge poker community with massive tournaments and guaranteed payouts, under the brand name of Bovada.
• Churchill Downs Inc.:The company offers online gambling services which provides world-class horse racing coverage and wagering on marquee events in the United States and around the world, under the brand name of Churchill.
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

Related Reports:

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Lottery Market in US by Type and Platform - Forecast and Analysis 2021-2025

Key Topics Covered:

• Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis
• Market Sizing
• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026
• Five Forces Analysis
• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
• Market Segmentation by End-user
• Market segments
• Comparison by End-user
• Mobile - Market size and forecast 2021-2026
• Desktop - Market size and forecast 2021-2026
• Market opportunity by End-user
• Market Segmentation by Gender
• Market segments
• Comparison by Gender
• Female - Market size and forecast 2021-2026
• Male - Market size and forecast 2021-2026
• Market opportunity by Gender
• Customer landscape
• Market drivers
• Market challenges
• Market trends
• Vendor Landscape
• Overview
• Landscape disruption
• Vendor Analysis
• Vendors covered
• Market positioning of vendors
• 888 Holdings plc
• Ballys Corp.
• Betfair
• Bovada
• Churchill Downs Inc.
• Delaware Park Racetrack and Slots
• DraftKings Inc.
• FanDuel Inc.
• Golden Nugget
• MGM Resorts International
• Appendix
• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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SOURCE Technavio