Growth is Great but US Online Gaming May Have to Evolve Like the UK Market
The US online gaming market is surging. The state-based dynamics might not suit online poker operators, but casino sites are thriving. Indeed, the individual nature of games such as blackjack and roulette means that companies aren’t losing much by not being able to share players between states. New Jersey remains one of the leading regions for online gaming growth. July 2021 saw the Garden State’s online casinos set a new monthly revenue record. The $118 million hauls not only broke the previous record set in March 2021 ($113.7 million) but stood as a 70% year-on-year increase.
The inherent qualities of casino games are certainly helping the market grow. Games such as slots, baccarat, roulette, and blackjack can be extremely entertaining. There are also subsidiary services making online gaming more accessible. For example, prospective players can visit time2play.com and find online casinos based on their personal preferences. Using a selection of one-touch filters, users can search through reviews and highlight sites that score highly in areas such as live games, mobile software, bonuses, and payment options.
Burgeoning Markets Never Stand Still
It’s also impossible to ignore the impact sports betting has had on the industry. The fall of PASPA in 2018 opened the door to a new wave of state-based betting opportunities. Operators such as 888, MGM, and Borgata have jumped on this and now offer sports betting and casino gaming in unison. One vertical feeds the other and vice versa. The result is a mutually beneficial relationship that’s turning US online betting and gaming into a multi-billion-dollar market. Indeed, you only have to visit Statista.com and check out the stats for New Jersey to see that business is booming.
For now, the US online gaming industry is growing exponentially and, in many ways, unimpeded. However, the more established UK gaming market is an example of how growing industries have to adapt to meet current demands. With a renewed focus on responsible gambling in the UK, operators are now implementing new features and policies designed to protect the most vulnerable. That’s commendable and something everyone within the gambling industry should be working towards. But it's also a sign of the times. For example, affordability checks on new customers are becoming more stringent. Slot players also have to wait 2.5 seconds in between spins.
Growth Markets Force Businesses to Adapt
These measures are designed to keep gaming fun but, moreover, they're indicative of a burgeoning market. Anytime something becomes popular, it brings new people into the mix and that changes the industry’s dynamics. The UK is a perfect example of this. The market has been growing for the best part of a decade and its dynamics are very different now from what they once were. The US could be heading in the same direction. Growth is great but it may mean things have to be tweaked as the market evolves.
Indeed, there's no doubt the US gaming market is gathering momentum, but it's still early days. Operators can ride the current wave but, if they want to grow and mature, they'll need to evolve. This is where lessons from overseas will become important. Catering to more diverse audiences and thinking about issues such as responsible gaming will be important for US operators in the coming years. The good news, however, is that the need to implement changes is indicative of success and, based on the current rate of growth, the US is set to become one of the biggest gaming markets in the world.
