The online gambling industry in the United States is poised for explosive growth in the coming years, according to a new report from PlayUSA.
The report, titled “US Online Gambling Expansion Forecast 2023,” predicts that the industry will see a significant increase in revenue over the next three years, driven by a number of factors including the legalization of online sports betting in several states, the continued popularity of online casino games, and the increasing availability of mobile gambling apps.
According to the report, online gambling revenue in the US is expected to reach $12 billion by 2023, up from $6.2 billion in 2019. This represents a compound annual growth rate of 15.1% over the forecast period.
One of the key drivers of this growth is the rapid expansion of sports betting in the US. Since the Supreme Court struck down the Professional and Amateur Sports Protection Act in 2018, a number of states have legalized online sports betting, leading to a surge in revenue for the industry. PlayUSA predicts that sports betting will continue to be a major source of revenue for online gambling operators in the coming years.
In addition to sports betting, online casino games are also expected to drive growth in the industry. The report notes that online casino revenue is expected to reach $5.1 billion by 2023, up from $2.8 billion in 2019. This represents a compound annual growth rate of 16.4% over the forecast period.
Mobile gambling is another area that is expected to see significant growth in the coming years. With the widespread availability of smartphones and tablets, more and more people are turning to mobile apps to place bets on their favorite sports teams or play casino games. PlayUSA predicts that mobile gambling revenue will reach $4.4 billion by 2023, up from $1.8 billion in 2019.
Overall, the report paints a very positive picture of the future of the online gambling industry in the US. With the legalization of sports betting, the continued popularity of online casino games, and the increasing availability of mobile gambling apps, the industry is expected to experience rapid growth in the coming years.
As online gambling continues to expand and evolve in the US, it will be interesting to see how regulators and operators respond to the changing landscape. With so much potential for growth, it’s clear that the online gambling industry is a force to be reckoned with in the years to come.
