US On The Fast-Track To Gambling- Driven Prosperity
We’re fast approaching the end of another year, and its once again time to reflect on the successes of the last 12 months. As far as looking back on 2018 and everything that has transpired in the casino industry, there is much to celebrate. And if global market trends research specialists Technavio’s recent study on the state of the casino business in the US is worth anything; and we have been assured that it is; then the US casino industry can expect a steady 5% annual growth rate until at least 2020, and by then, the market will be worth an estimated $93 billion.
The study shines the spotlight on a number of interesting market dynamics, including the impact of illegal gambling on the industry, the prevalence of online gambling, and the impact that the strike-down of PASPA has had not only on the sportsbetting sector, but on the overall betting and gambling landscape as a functioning whole.
Safeguards Grow Confidence
It’s all about user confidence. As far as conclusions that make the discerning ear sit upright and pay attention go, this one came out on top. We’ve been through the drill for one and a thousand times, even more, and the arguments in favor of playing online versus playing at land-based casinos have never made quite as much sense as presently. In a world where the rush is constantly on to make it from one appointment to the next, keeping up with various social contracts, making a living and making a life, time is our most precious commodity.
But what stands out even more than copious amounts of time saved in terms of travelling, the absolute bliss of enjoying a quality gaming session in the comfort of one’s own home, and the fact that the number of virtual seats available are literally unlimited, is the user confidence element.
Technavio’s study highlights a very important key element when considering why online gambling in the United States has grown by a mind-blowing 212% in 2017 alone: enhanced protection for users thanks to multiple verification checks.
It’s clear from the revelations made by the study that at the end of the day, we all want to know that somewhere, somehow, someone has our best interests at heart and that our personality and financial rights are protected. Online casinos, together with various safeguards instituted by online regulators and even national banks, have discovered the holy grail of the cultivation of trust in a largely anonymous digital world.
If paid online games have taught us anything, then it is this: what limits us also protects us.
Witnessing The Shift
After the US Supreme Court abolished the archaic PASPA laws, declaring the various prohibitions unconstitutional, a shift took place in the gambling industry. Many states have already started the process of legalizing online gambling; states other than liberal states the likes of Nevada and Delaware.
We’re looking forward to see what 2020 and beyond will bring.