2021 brought new record breaking numbers in the US betting market, as Americans gambled a record amount of $53 Billion, this is according to the American Gaming Association. The breaking of this record has become something we expect now in recent years, as the previous record was set in 2019. This is no coincidence and there is a reason as to why these numbers keep rocketing.
As we are aware, the American gambling market is opening up faster than ever before, as more US states announce that they will be legalising gambling, great news for bookmakers. As well as that meaning that we are seeing betting sites and shops appearing across the US, it also means we are finding bookmaker comparison sites, like you can find here, showcasing the most prizing sports betting bonuses that punters don’t want to miss out on.
Here is the report published by the AGA to show where the figures have come from.
States Where Gambling Is Legal
Below is a list of which states have legalised gambling and proof of just how quickly the US gambling market has excelled:
- District of Columbia
- New Hampshire
- New Jersey
- New York
- Rhode Island
- West Virginia
This list is expected to grow in the coming years, with the likes of Missouri, Massachusetts, Oklahoma, Kansas, Georgia, Hawaii, California, all considering legalising gambling in their states.
This would be huge news for the industry and we could certainly expect an even bigger rise for 2022 if this was to be the case. It is difficult for these states to turn down the proposition with so many other states allowing it to take place. The issue these states have is if they decide not to legalise gambling, residents of these given states will simply find alternatives. The alternatives will include signing up to offshore gambling sites which will allow them to place bets like everyone else. So by states legalising gambling, at least they can tax it in a way that offers some benefit to them, instead of it going on underneath their noses.
Sports betting isn’t the only sector seeing a huge rise in popularity, casinos are raking in record numbers in revenue as well. According to Forbes, in 2021, six states in the US, that have legalised iGaming, managed to generate $3.71 billion in revenue. This was an increase of over 100% in 2020. In 2021, we also saw the launch of iGaming in more states, such as Connecticut and Michigan. New Jersey is the most popular state for iGaming in the US, with them bringing in a large chunk of the revenue.
Digital platforms are really helping to drive the growth in Gambling in the US. All our betting wants and needs are right at our fingertips thanks to the convenience of betting apps. Most betting companies have betting apps for all their customers to use. Within the click of a button you can be in your account ready to pick your selections. Not only that but most platforms will also select popular bets for you, so you don’t have to do any of the work yourself. The ease of placing bets is phenomenal and the evidence is clear that because it is so easy, it is becoming increasingly popular.
Other driving factors within the US gambling market include the introduction of new technologies such as blockchain, virtual reality and AI. Blockchain technology is taking over a lot of industries and the betting industry is no different. More customers feel confident and safer placing bets using cryptocurrency, as opposed to sharing their details with big corporations, in case their private information ends up somewhere it shouldn’t be. Virtual reality is also becoming the next big thing in gaming and companies are looking for ways to bring it into the world of betting to offer a new and improved experience for punters.