Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "US Online Gambling - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2018 - 2029" report has been added to ResearchAndMarkets.com's offering.
The latest industry analysis paints an optimistic future for the US online gambling market, with forecasts revealing astonishing growth prospects through to 2029. According to the new market research report now available, the sector is looking at an impressive compound annual growth rate (CAGR) of 16.52% from 2024 to 2029, with a projected valuation surge from USD 5.12 billion to a noteworthy USD 10.98 billion.
Amid the after-effects of the pandemic, which catalyzed a notable shift in consumer financial engagement, the online gambling market in the United States has observed significant traction. The increased consumer interest in various online gambling platforms stands testament to the changing dynamics and adoption of digital alternatives for potential capital gains. Significantly, the fiscal year 2021 third quarter marked an upturn in this sector's market growth trajectory.
The burgeoning market is further driven by the consumer's quick returns mindset and the ongoing integration of cutting-edge technologies such as virtual reality and blockchain. New Jersey currently leads the pack in the realm of regulated online gambling, setting the stage for robust competition and innovation within the space.
US Online Gambling Market Trends
- Entrenched Gambling Culture: With a rich gambling heritage and commercial gaming revenue in 2021 towering at USD 52.99 billion, the US demonstrates a deep-seated affinity towards gambling. This inclination is poised to proliferate with the advancement of technology and gaming platforms.
- Digitally Native Gaming Audience: Millennials, alongside Gen Z, are significantly shaping the US betting landscape, with a considerable shift towards online wagering. The increasing preference for app-based betting underscores the vast market potential.
Rapid Expansion of Sports Betting Segment
The sports betting niche stands as the fastest-growing segment within the online gambling market. Enthusiasts increasingly gravitate towards betting on sports they are knowledgeable about, seeking both a connection to the game and the prospect of lucrative returns. Enhanced security measures add to the appeal of online gambling, ensuring the safekeeping of investments and personal data alike.
Key Market Players and Industry Overview
The market features a competitive landscape brimming with significant domestic and international players. Innovation, strategic partnerships, and mergers define the operational strategies of leading establishments, including mainline entities such as 888 Holdings PLC, MGM Resorts International, and others. They focus on customer engagement through technological enhancements and brand diversification to capture varying consumer preferences and bolster their footprints across the lucrative US market.
In conclusion, with its resilient growth trajectory, cutting-edge technology integration, and consumer-centric trends, the US online gambling market is poised for a prosperous future up until 2029 and beyond. Industry observers, stakeholders, and avid gamers alike will find value and insights from this new market research publication, charting the course for the evolving landscape of online gambling in America.
Additional Benefits
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered
- Introduction
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Market Opportunities and Future Trends
A selection of companies mentioned in this report includes
- 888 Holdings PLC
- MGM Resorts International (Borgata Hotel Casino & Spa)
- Flutter Entertainment PLC
- Caesars Entertainment, Inc.
- Cherry Gold Casino
- DraftKings Inc.
- Fertitta Group, Inc.
- Churchill Downs Incorporated
- Lotto Direct Limited
- El Royale Casino
For more information about this report visit https://www.researchandmarkets.com/r/5u6rxb
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