The state of the union between the iGaming industry and traditional casinos has been tumultuous as both sectors vie for dominance in the rapidly growing online gambling market. The latest battleground in this fight is the issue of cannibalisation, with traditional brick-and-mortar casinos fearing that online gambling will eat away at their profits.
The Casino-Free Gaming (CFG) movement has been leading the charge against online gambling, arguing that it will siphon revenue away from traditional casinos and harm local economies. CFG has been lobbying state governments to restrict or ban online gambling, citing concerns about addiction, money laundering, and other criminal activities.
On the other side of the debate is the iGaming industry, which argues that online gambling is a natural progression of the gaming industry and will help to attract new customers and increase overall revenue. Bally Bet, one of the leading online gambling platforms, has recently launched in Tennessee, becoming the first state in the US to offer legal online sports betting without the need for a physical casino presence.
The launch of Bally Bet in Tennessee has sparked renewed debate about the impact of online gambling on traditional casinos. Proponents of online gambling point to the success of states like New Jersey, which have seen a boom in revenue since legalizing online gambling. Opponents argue that online gambling will cannibalize revenue from traditional casinos, leading to job losses and economic downturn.
Despite the ongoing debate, the iGaming industry continues to expand rapidly, with more states considering legalizing online gambling in the near future. The battle between the industry and CFG shows no signs of abating, as both sides fight for their stake in the lucrative online gambling market. The outcome of this struggle will have far-reaching implications for the future of the gaming industry in the United States.
