A market research analyst of Technavio has been working on the online gambling market of the United States, evaluating the operations in the three states that offer such services; New Jersey, Delaware and Nevada. The research shows that the market is set to grow at CAGR of over 51% by the year 2020. The popularity of using devices such as computers and smartphones for gaming activity is believed to only continue to grow in the coming years.
The research found that mobile advertising is one of the strongest options for promoting the gaming option and reaches the population that do not regularly visit casinos or a bar where wagering is legal. The mobile advertisements are used to influence this group of individuals to try online gambling. The most important factor for driving the growth of online gambling in the future is the younger population.
Customer centric rewards are also considered in this study. This is a recent development in the online gambling market of the United States where vendors are providing rewards and offers a personal and customized gaming experience based on profiles of players considering the demographic and psychographic areas. Stakes are being reduced and the probability of winning increased to be able to attract more players to the sites.
The United States online gambling market is very competitive currently as there are many established vendors who offer a quality product portfolio, have the credibility to bring in customers as well as offer apps for online gaming, quality payment options and more. Many vendors looking for sustainability are investing in planning, developing and designing of their websites as well as working on acquiring new players and expanding their existing gaming facilities. Technological innovations play a large role in bringing growth to such vendors.
Top vendors who currently operate in the US gambling market include 888.com, Betfair, Borgata Hotel Casino & Spa and Dover Downs. Additional vendors who are prominently successful in the nation include Delaware Park, DraftKings, FanDuel, Golden Nugget Online Casino, Real Gaming and more.
Within the analyst’s study, two segment types were considered, online casino and online betting. The research suggests that the online betting segment will be the fastest-growing segment of the US online gambling market during the period of forecast. This segment is set to see a CAGR of close to 59% by the year 2020. The growth will be due to sports legalization in several states including Mississippi, New York, Texas, and Indiana, among others.
When considering wagering based on device, there are two categories as well, computing and mobile devices. Last year, computing devices consisted of laptops and PCs. Around 69% of the overall market share for online gambling came from computing devices. Gamblers tend to lean on such devices for gaming as they provide a larger screen than a mobile device. Users also have better navigation options with computers or laptops. It is believed this segment will grow by over 40% CAGR based on Technavio’s market research.