Emerging US Online Casino Industry Continues Rapid Growth In 2021
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The online casino industry is certainly going through something of a revival, with predictions for revenue in the next five years soaring. As such, new opportunities for business and entertainment abound.
Online gambling is an incredibly lucrative industry, with revenue in the US alone hitting $13.6 billion in the second quarter of 2021. This is an industry record, yet the industry is on track to surpass $44 billion by the end of the year. This will make 2021 the highest-grossing year in online gambling history in the United States. That said, the sector is not alone in enjoying hefty profits.
When it comes to traditional gambling revenue, the US enjoyed revenue of $11 billion, according to the American Gaming Association. This is a more than 17% increase from Q1 2020 and on par with Q3 2019, which is a feat in itself. March was the highest-grossing month in the history of US commercial gaming. The good news is that there seems to be no chance of slowing down.
Online casino games remain popular
The rise in iGaming has had profound effects on the gambling sector, with many top-rated online casinos being launched and brand-new games being released all over the world. While many of the top-rated online casinos feature a host of old and new games in their portfolio, online slots have continued to be the main drawcard for seasoned and novice gamers alike. Not only are slot machines the most popular, but they’re also some of the highest-paying games available, particularly progressive slots, which are designed to offer some life-changing jackpots. That said, many non-progressive slots also offer players that chance to earn multi-digit payouts.
However, there are several things to consider when playing for real money at online casinos. It may be tempting to try out any game that piques your interest but start by finding out which slots have the best RTP or return to player rate. This is the percentage of wagers a specific game is expected to return to the player over time. The RTP is worked out using a statistical evaluation and depends on the game type.
Sports betting dominates, but the online casino is catching up
While sports betting seems to be catching most of the headlines in the US, the online casino market continues to grow in the country. In fact, the sector enjoyed incredible growth over the past 18 months, with the US becoming one of the largest markets for online gambling in the world. An industry that was once confirmed to European countries has now headed across the pond with revenues exceeding $1.55 billion in 2020 from just four states, which is an estimated $8.4 billion increase from the previous year.
As the world becomes more accustomed to doing everyday tasks on the internet and as safety measures continue to improve, the online casino industry will surely continue its meteoric rise.
