Intense Competition Among US Casinos Spurs Market Expansion as Players Employ Thought Leadership Strategies

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Oct 17, 2023, 17:45 ET

DUBLIN, Oct. 17, 2023 /PRNewswire/ -- The "US Online Gambling Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The US online gambling market is poised for significant growth, with a projected market value of $22.31 billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 11.7% from 2022 to 2028.

This dynamic expansion is attributed to various factors, including rising per capita income, increased adoption of smartphones, the tech-savviness of millennials, and a growing number of dual-income households. Major players are strategically entering the US online gambling market through agreements, acquisitions, and collaborations to tap into the growing demand for digital gambling.

Market Highlights:

High Spending Power: Baby boomers and Generation X, known for their high spending power, are driving the US gambling market. Their inclination toward technology and increased urbanization are key contributors to market growth.
Millennial Influence: Millennials, often referred to as the digital generation, are tech-savvy and smartphone-dependent. Their preferences and behaviors are set to propel the online gambling market in the region.
Casino Industry Growth: In 2022, the US casino industry experienced growth, with increased consumer spending across the nation. Intense competition among casinos in different states to attract gamers has contributed to this growth.
Thought Leadership Strategy: The region is expected to adopt a thought leadership strategy, with players establishing gambling facilities while maintaining offshore operations for profit enhancement and expanding their customer base.
Macroeconomic Factors: The performance of the gambling industry is closely linked to macroeconomic factors such as job growth and consumer confidence. While the growth has been uneven nationwide, several states with commercial casinos have witnessed increased gross gaming revenues.

List of Key Vendors:

Caesars Entertainment
Las Vegas Sands
MGM Resorts International
Wynn Resorts
PENN Entertainment
Entain
Flutter Entertainment
Kindred
888 Holdings
BET365

Other Prominent Vendors:

Betway
Genting Berhad
Betsson
Sportech
Tipico
Light & Wonder
IGT
DraftKings
Boyd Gaming
Evolution

Market Segmentation:

Product (Revenue):
- Casino
- Lottery
- Betting
- Poker
- Others
Platform (Revenue):
- Desktop-Based
- Mobile
- Others

Market Structure:

The report provides insights into market dynamics, the competitive landscape, key vendors, and other prominent players in the US online gambling market.

For more information about this report visit https://www.researchandmarkets.com/r/6e84ac

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SOURCE Research and Markets