The Future of iGaming in America
Online gambling has been around for almost as long as the internet. But why was it on the low for nearly two decades? Why is it suddenly becoming the next big thing? The most straightforward answer would be that the industry was tied up in a cloud of uncertainty created by inconsistent state and federal laws for a long time, but the air is now clearing.
Online gambling in America is now growing at a record rate. It grew into a multi-billion dollar industry in just a matter of months. The biggest advantage of online gambling is that it gives you the flexibility to place a wager from anywhere, anytime. In addition, online platforms offer plenty of exciting bonuses and promos. So, if you’re looking to join one, don’t forget to find the right no deposit codes. The best no deposit bonuses will get you free credits to play real money games and win rewards.
Online Gambling – The Past & The Present
Online casinos were one of the first few businesses to pop up on the internet, but the majority of them were shut down as fast as they came up. This was because of the “Federal Wire Act of 1961” prohibiting wire communication for gambling businesses, putting online gambling on the opposite side of the law. However, this law was passed several decades before the internet and was aimed at gambling via telephones and cable TV. This led to a nationwide debate on whether online gambling can be regulated under the wire act. The official declaration came from the US Department of Justice in 2011, concluding “interstate transmissions of wire communications that do not relate to a ‘sporting event or contest’ fall outside the reach of the Wire Act.” Hence, online casino-based gambling became legal under federal law, and the supreme court has given state legislatures the right to make up their own regulations regarding gambling.
Seven years after the legalization of casino gambling, in 2018, the US Supreme Court struck down the 1992 federal law that bars sports betting and gave states the right to legalize wagering on sporting events like basketball, baseball, etc. However, in 2006 the government had also passed the “Unlawful Internet Gambling Enforcement Act” to criminalize unlawful internet wagering. So, online platforms can only accept wagers in states that have legalized online gambling.
Since the legalization of online sportsbooks, online gambling has been flourishing. This is partly because of the new technological advancements resulting in a splendid gambling experience. Online sportsbooks also allow you to place bets on a variety of markets on live games, creating an immersive sporting experience. The other big factor influencing the growth of online gambling is its convenience. You do not have to go to a casino to place a wager, which, to be honest, is not preferred by most. Online betting helps to save time while at the same time giving you plenty of rewards and bonus offers. In addition, the global pandemic and associated lockdowns have certainly contributed to the rise in online gambling’s popularity.
How Is It Going?
Sportsbooks are now operating legally across the United States, thanks to the 2018 Supreme Court ruling. So, if you love sports betting this is the best time for you because it has never been easier to wager on sports. However, online casinos are still facing legal difficulties in some states because of the “Unlawful Internet Gambling Enforcement Act of 2006”. This prohibits banks from sending payments to online betting businesses on a federal level. Despite this, many state authorities have legalized online gambling at casinos registered in the US.
At the time of writing this article, online casinos are legal in New Jersey, Illinois, California, Pennsylvania, Indiana, Nevada, New Hampshire, Iowa, West Virginia, and Rhode Island. Online poker is legal in Nevada, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia. Meanwhile, online sportsbooks are legal in more than a couple dozen states in the US, Louisiana being the newest addition. Speaking of new additions, another popular betting category amongst US players is betting on fantasy sports, such as betting on fantasy football. Fantasy football has a large player base, which makes betting on it more fun and exciting.
The net online gross gaming revenue in the US is estimated at over $2.5 billion for 2020. The GGR was almost $1 billion in New Jersey and $500 million in Pennsylvania. In addition, this is projected to increase significantly by the end of 2022. So, it isn’t a surprise that many more states are legalizing and regulating online gambling to expand state coffers. For instance, Michigan online gambling generated a revenue of $122 million in February of 2022.
Technology – The Driver
The online gambling industry is constantly evolving as the underlying technology advances. These improvements attract more users while also retaining existing gamers. For example, some of the biggest technical advancements of recent times include Virtual and Augmented Reality, the use of cryptocurrency and blockchain technology, and live gambling.
VR and AR are helping to improve the gambling experience by creating a virtual casino environment that can mimic a real-life casino experience. In addition, live gambling on games like poker, blackjack, etc., with live dealers creates a realistic gaming experience as well. Meanwhile, gambling with decentralized digital currencies enables users from anywhere to wager even if the local authorities have restrictions on gambling activities. Moreover, Blockchain technology brings transparency to the gambling process as all blockchain transactions can be verified through a digital ledger.
Top Online Casino Suggestions
Selecting the right online casino can be a daunting task. Here is a list of some of the best online casinos in the US.
- Jackpot City Casino: It is a fully-licensed online casino with 500+ games. It offers a 100% deposit bonus of up to $1,600 on new sign-ups along with other exclusive VIP rewards.
- Gaming Club Casino: It is one of the oldest operating online casinos with eCOGRA certification. It also offers a welcome bonus of 100% deposit bonus up to $800.
- Slots Million Casino: It is a Maltese based online casino that offers VR capabilities to create a realistic slot experience. It offers a 100% deposit bonus of up to $100 on initial deposits and guarantees cashouts under 24 hours.
- Lucky Nuggets Casino: It is an eCOGRA approved online casino that has a fantastic casino game library. It offers a 100% deposit bonus of up to $1,000 for new sign-ups.
- Tropezia Palace Casino: It is a consumer-driven online casino with high-quality slots and several gambling options. It offers a 100% deposit bonus of up to $100 for new customers.
The growth of the online gambling industry is not expected to recede anytime soon. The current online gambling revenue is estimated to be one-fifth of the total gambling revenue in the US. Moreover, studies on the current trend predict that the online gambling industry will at least double the current revenue by 2023. A huge role in this was played by eSports. With games such as CS:GO, Dota 2, Overwatch, and League of Legends leading the way.
Even though individual states retain the power to decide the fate of online gambling, the industry is not anticipating any roadblocks. Moreover, the massive improvements in safety and security standards have forced many states to take an interest in legalizing online gambling. On the same note, if all goes well, we can expect online sportsbooks and casinos to be available throughout the US soon.
This is a paid guest post.