US Casino Market: Are The Players Raising Industry Revenues?
In 2019, the casino industry generated a historic high revenue of $43.6 billion that translated into significant tax revenues and stable local economies for the markets where the casino activities are most dominant. However, as a result of the pandemic hitting the industry hard, the gaming revenue in land-based casinos hit its lowest in 17 years during 2020.
Although the Covid-19 impact on the industry is very significant, it also accelerated the need for casinos to enhance the customer experience to keep the customers playing. In addition, more players made the switch to online casinos.
According to the analysis from the American Gaming Association, US gambling revenue skyrocketed to $13.6 billion in the second quarter of 2021, which set a new industry record. The allowed revenue for gambling from the state is 20% from the former record of $11.1 billion in the third quarter of 2019, months before the Covid-19 pandemic.
Nearly every state with legalized gambling had its gambling revenue surpass the pre-pandemic levels. Nevada has the highest revenue record this year in the last four months. The state received $1.2 billion as gambling revenue in June, according to the Nevada Gaming Control Board. For more info on this, view here.
Online Casinos
The casino market attested to a huge migration to online gambling as a result of the closure of various gambling establishments, making most companies go digital. A lot of players have expanded their online gambling offers, which has impacted the market positively.
With regulatory updates, casinos are starting to prioritize the development of online gaming capabilities.
However, according to our guest casino expert Kristoffer Haagensen, gambling in Norway is not as simple as it is elsewhere. Unlike other countries like the US, the Norwegian government has limited gambling by allowing only two companies to legally offer lotteries and sports betting. Many Norwegian gamblers use tools such as VPN to circumvent these restrictions. Kristoffer fears that these outdated laws are not suited for the age of the online casino, and it may limit the tax revenue that Norway could get from legalized gambling.
Online casinos in Norway are a complex topic. Norwegian governments are known to adhere to the most outdated and restrictive gambling regulations in the world. Gambling laws are not specific and are not appropriate for online gambling. Kristoffer Haagensen, our guest writer, is an expert on this topic, thanks to him there is a lot to learn about beste casino bonus uten omsetningskrav.
Market Landscape
The US gambling market is very segmented, consisting of several regional and global players such as 888 Holding PLC, Caesars Entertainment Corporation, and William Hill PLC. The most popular types of casinos are:
- Commercial,
- Tribal,
- Limited stakes,
- iGaming.
The commercial segment accounted for the largest market share in the base year. One of the key factors driving the casino gaming market growth is the growth in the spending capability of customers.
Casino Bonus
Many online casinos use bonuses to attract new clients and keep the existing ones satisfied, but one needs to be aware of the terms and conditions and what you have to deal with. The majority of online casinos have excellent bonus offers for their customers today. Most of these offers require you to make the first deposit.
Frequently Asked Questions:
- Are Casinos illegal in Norway?
Gambling in Norway is not legal for the majority part of the state. Just two companies (Norsk Tipping and Norsk Rikstoto) are the only ones permitted to offer gambling to Norwegian citizens.
- Do online casinos in Norway offer Bonuses?
Yes, online casinos in Norway offer some bonuses. However, they aren’t as large and generous as they are elsewhere in the world. So, to find the best bonus packages out there, we recommend you find a platform that compares casinos and bonuses.
- Will online casinos affect the gambling market revenue?
More and more people switch to online casinos, especially during the COVID-19 pandemic. We expect that in the coming years, online casinos will make up the majority of gambling revenue.
Conclusion
The casino is now within our reach, at any point in time and where we find ourselves, where legalized. The industry is adjusting accordingly to reach its loyal customers and provide the experience they hope to have.
