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Dublin, May 17, 2023 (GLOBE NEWSWIRE) — The “North America Online Gambling Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
Over the next five years, the online gambling market in North America is expected to register a CAGR of 11.78%.
Casino gambling has been one of the fastest-growing types of gambling because it is easy to use and gives the best user experience. With the rise of technology, virtual reality, blockchain, and mobile platforms are being used more and more in the gambling industry across the region.
Gambling and betting are rapidly becoming legal in the United States. Most US states have had legal online horse racing betting for several years now. More recently, the market has witnessed individual states legalizing additional forms of online betting, such as casino games, poker, daily fantasy sports, and lotteries.
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, Delaware, and New Jersey to operate legally, as these are the four states where online betting is regulated. Custom slot types are trending the most in the market, owing to the scope of innovation and personalization by consumers. Moreover, live casinos have gained popularity over the recent past, as they involve a wide variety of live dealers and real-time feedback that helps improve the real-world casino experience.
The gambling industry is being changed by new technologies like artificial intelligence (AI), chatbots, and machine learning. AI is used by both online and offline casinos to analyze how customers act and give them better, more personalized service. This method is used to find new customers and figure out how the ones they already have play.
AI is used to speed up the process of opening a bank account by checking customer information and supporting documents. AI and chatbots can immediately finish some tasks, answer questions, and give information on a wide range of topics. This results in enhanced consumer satisfaction, brand loyalty, and customer retention.
North America Online Gambling Market Trends
The Increasing Adoption of Internet and Internet-based Devices Supports Market Growth.
As more people use the internet and internet-connected devices like smartphones and tablets, the market for online gambling in North America will grow. This is because people will be able to use gaming websites whenever they want.In 2020, 84.4% of Canadians owned a smartphone, an increase of 4.1 percentage points since 2018, according to Statistics Canada. People are likely to like sports betting a lot, and smartphones are a big reason why.Because of changes in technology, like better graphics and more storage space, most people can now gamble on their cell phones.Digitization has made online gambling more acceptable, which is expected to help the market grow.The market is expected to grow because game-focused cell phones that get cheaper and more popular will be made and sold faster.
The online gambling market in North America is growing thanks to improvements in electricity, phone lines, and internet connections. As online gambling keeps growing and games like online casinos become more popular, online casinos have become very competitive and have become a big part of North American society and the economy.
North American online casinos are becoming more popular. When it comes to internet roulette, blackjack, or online slots, North Americans can choose among various internationally acknowledged web platforms and the best American casino online operators registered in the region. The best online casino platforms stand out from the plethora of gambling options available to Americans by being secure and convenient for local gamblers to use. Jackpot City, Mucho Vegas, DraftKing, and Dunder are among the top North American online casinos.
Canada Holds the Largest Market Share
Canada is largely an unregulated country in terms of online gaming. The Canadian Gaming Commission oversees the industry as a whole in Canada, offering information and responding to any serious issues that arise. Laws pertaining to casinos, online gaming, sports betting, and other similar activities are enacted and enforced by individual provinces. It has been observed that most people in Canada gamble in some form, whether it be charitable gambling, online poker, or any number of other options. Participation in some provinces, like Nova Scotia and Saskatchewan, is higher than in other places.
During the forecast years, mergers and acquisitions are among the key techniques anticipated to be used in the Canadian market. The current government-owned Ontario Lottery and Gaming Corporation (OLG), which offers online gambling, is planning to coexist with new betting companies operating in Ontario in the future.
Moreover, Canadians are looking forward to a fully operational licensed online casino where they can bet on their favorite games. Moreover, Canadians prefer casino games and sports betting games, and they look out for United States-based sporting events, like the NBA, NFL, and MLB, to name a few.
Furthermore, Canadians often opt to buy tickets or place bets at popular stores like Caliente. Additionally, gamers in the country are often considered digital natives and are generally considered to rely heavily on technology. They also have certain expectations and preferences when it comes to online content and services.
Nine out of ten bets are placed via apps, and this factor provided huge potential for the market during the study period. Sports betting, like football, bullfighting, horse racing, e-sports, and others, has emerged as the most popular online gambling type among the locals in Canada.
North America Online Gambling Industry Overview
The North American online gambling market is highly fragmented and comprises regional and global players such as 888 Holdings PLC, MGM Resorts International (Borgata Hotel Casino & Spa), Caesars Entertainment Corporation, DraftKings (Golden Nugget), and Flutter Entertainment PLC, among others. Major players are focusing on mergers and acquisitions to expand their presence in the regional market and to enhance their brand portfolio to cater to the various preferences of the consumers. Merger and acquisition is the most preferred strategy in the casino gambling market.
The key players are also entering into partnerships and agreements to enhance their offerings. Moreover, these players are also focusing on launching their offerings in these new potential markets. For instance, in March 2021, Golden Nugget launched a new mobile sportsbook in New Jersey with Scientific Games Corporation. Customers of Golden Nugget will gain access to the OpenSports product suite and managed trade services from Don Best Sports as the operator switches to Scientific Games’ sports betting software as a result of the deployment.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
5.1 By Game Type
5.1.1 Sports Betting
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Slots
5.1.2.3 Baccarat
5.1.2.4 Blackjack
5.1.2.5 Poker
5.1.2.6 Other Casino Games
5.1.3 Other Game Types
5.2 By Device
5.2.1 Desktop
5.2.2 Mobile
5.3 By Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of the North America
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER
A selection of companies mentioned in this report includes
- 888 Holding PLC
- DraftKings (Golden Nugget
- MGM Resorts International (Borgata Hotel Casino & Spa)
- Flutter Entertainment PLC
- Caesars Entertainment Corporation
- Wild Casino
- El Royale Casino
- Slots Empire Casino
- The Stars Group Inc
- BoVegas
- Cherry Gold Casino
For more information about this report visit https://www.researchandmarkets.com/r/k6tz3p
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