Market research brand Technavio published a research study whose summary forecasts a bright future of the US gambling market. According to the presented results, the casino market revenues in the United States could reach staggering $93 billion by 2020.
Falzan Akthar, lead market research analyst in Technavio, said in a statement that the tourism industry in the US got back on its feet after the recession ended. Additionally, he pointed out that casinos were developing strategies to attract more and more customers, thus improving their earnings. The analyst mentioned collaboration with luxury hotels and placing gaming machines at attractions like bars and restaurants as some of the steps operators have already taken in order to widen their customer reach.
In his statement, Akthar said that USA was one of the “few countries” where advertising casinos is allowed. Therefore, he explained, the local level marketing strategy used by gaming companies was increasing the number of tourists that become interested in gambling in the States.
Technavio’s research study highlights three driving forces as responsible for the constant growth of the gaming industry in the country. The first one is expansion of online gambling, while the second one is immense contribution to national economy. Finally, according to the firm, the advanced and improved transportation infrastructure in the USA is the last force that contributes towards the progress gaming industry has been witnessing lately.
Akthar also mentioned virtual online casinos, saying that the segment noted a jump of approximately 212% when it comes to revenue in 2015. The analyst further explained that this type of gambling was providing more protection to player transactions thanks to “multiple verification procedures.” Thus, he concluded that online gambling was the future of the US casino market.