Gambling set a new record in 2021. This was the year many gambling industries worldwide got the opportunity to rise again. In the United States, the case was no different. Tourists and locals returned to online casinos with a never-before-seen thirst to play.
U.S gambling revenue reached $13.6 billion in the second quarter of 2021. This was a new record as reported by the American Gaming Association. The figure showed a significant 22% increase from $11.1 billion in 2019’s third quarter.
2021 became the highest-grossing year in gambling history, especially for legal gambling. Online gambling was not left behind since in the first half of 2021, it brought in $1.66 billion in revenue. Remember, iGaming is only legal in six states in the United States.
That figure alone within a small period indicates the massive revenue increase. The second quarter of 2021 recorded $901 million in iGaming revenue.
Impact of the COVID-19 Pandemic on Online Casinos
The United States was not left behind when the pandemic hit. Many casinos were closed down, and gambling venues like hotels and bingo halls were shut down. This occurrence was devastating for brick and mortar casinos and other gambling venues, but it was a good look for online casinos.
More and more people turned to online gambling. In 2021, more online casinos established an online presence to cater to the sudden surge in online gamblers. All this prompted many states to begin legalizing iGaming. Although many are yet to get on the online gambling boat, the future is promising.
Live casino gaming also made a significant entry to add on to the online game selection. Many casinos in the United States opened up live casino gaming studios to facilitate live gaming. Here live dealers and croupiers control gaming, giving it a feel similar to land-based casinos.
Casinos also started looking at the possibilities of AI online casino gaming. With the rise in technology, especially in the gaming sphere, Artificial Intelligence technology will help curb cheating, improve the gambling experience, and enhance customer service.
Improved Legit Gambling
Since many countries opened up their doors to iGaming in 2021, the debate about legalizing iGaming and controlling the sector began. Gambling is fun as long as it is regulated and controlled. Responsible gaming prevents a lot of unfortunate events from happening.
Consequently, all casinos had to comply with licensing and registration so that the authorities can recognize them. The U.S casino industry welcomed many legit gambling sites in 2021. When dealing with real money, players have to be cautious not to fall in the wrong hands of dishonest gaming sites. There are online sources, like LegitGambling.com for example, that comes to players’ help by reviewing and rating the best legal gambling portals in 2022.
So, what makes gambling sites legit? Here are a few details to look for:
- Safety and security features
- Straightforward and efficient banking options
- Enhanced user experience
- Good game variety
- Reliable customer service
If the online casino does not have the features above, we should rethink investing in those sites. Online gambling rules vary from state to state. Therefore, we need to be vigilant about the legality of an online gambling site before spending any money.
Online Gaming in 2022
2021 was a great year for online casinos in the United States. 2022 is expected to get better. There are more online casinos and games on offer today. On top of that, sports betting and mobile gambling are more available.
Many casinos have optimized their sites to accommodate mobile gambling on different platforms. Another sector to observe is sports betting. Since the number of live games reduced significantly, virtual betting for sports came into existence.
Other improvements in the online gambling sphere include:
- Adoption of cryptocurrency
- Integration of virtual and augmented reality
- Improvement of esports and micro betting
State governments are now sitting to discuss more on iGaming. Although there are only six states with approved iGaming, the number will go up this year. Legislators are passing more bills to support and regulate online gambling activities for the sake of the economy.
By 2023, the value of the online gambling industry will shoot up to $92.9 billion. This places online gambling among the top lucrative economic sectors worldwide. Studying trends and understanding the needs of online gamblers increases the customer base, and consequently increases the income.