The American Gaming Association (AGA) estimates that the online poker industry contributes about $78 billion in annual revenue and is projected to accrue $127 billion by 2027.
Online poker sites have grown exponentially in the US, shutting new highs yearly. But what is leading to this growth? Discover more information below.
Legalization of Gambling in the US
In 2011, the Department of Justice overturned some sections of the Wire Act of 1961, empowering states to decide how to handle the online gambling industry within their jurisdiction. The DOJ would not press criminal charges on players who participated in online casino games like poker, lottery, slot games, and bingo.
The result is that states are continuing to legalize online gambling and partnering. In Pennsylvania, Delaware, New Jersey, and Nevada, where online gambling was legal during covid, they reported high revenues from March 2020.
Legalizing online gambling has helped streamline the sector, and customers can identify legal sites where their trust is guaranteed. They don’t have to worry about the government tracking their moves while gambling.
Covid-19 Effects
The covid-19 pandemic shifted consumer behavior in almost every industry sector. The biggest gainer was the online industry. Many people spent more time on the internet, leading to a boom in e-commerce.
During the lockdown, many brick-and-mortar casinos remained closed despite many players still wanting to wager. The government directive for social distance and fear of getting infected with the virus meant players had to seek new alternatives for betting. Thanks to the internet, you can wager from the comfort of your house.
Covid-19 also saw many people losing their jobs. Businesses shut down, and many people lost their main sources of income. As a result, some turned to online gambling as a way to make money.
Many casinos also boosted the wager options, including more poker games and spread to accommodate new customer tastes and preferences. The states and casinos are collaborating to improve customer experience during online gambling.
The Growth of Cryptocurrencies
In June 2021, the digital currency became a legal currency for trade. Many casinos have since then adopted crypto-gambling, which has ultimately grown the online casino businesses. Many players are looking for secure and transparent ways to wager online.
Crypto-gambling is considered fast legal, and more secure than traditional gambling methods. Many players also appreciate blockchain privacy when waging because your local bank can’t access your financial information to award you a negative credit score or track your sensitive data.
Casinos have had a historically bad reputation for stolen credit cards and personal information. However, with the multi-layered and decentralized nature of crypto-transaction, this is becoming a thing of the past. Also, many crypto-gambling websites do not collect personal data, thereby limiting what information is held by a casino from the player.
Crypto-gambling is also cheaper than fiat money because of no convenience fee. Such incentives are very helpful in enticing more people to wager.
Technological Trends
The world is transitioning into a fourth industrial revolution, signified by technological processes. Technology is creative, disruptive innovations that are changing activities in the market. Online casino is a great example.
Many i-gaming platforms and gaming institutions are developing software for live casino gaming as a product of the internet age.
Social media has also been instrumental in the growth o online poker. Twitter, Facebook, and other popular social media accounts continue to grow. Many people interact to share their excitement and understand how online poker works. As a result, more people are interested in gambling in online casinos.
Many people have access to a smartphone nowadays, and with improved internet penetration in the country, you can download casino apps to play. Some apps can operate perfectly on low internet connections, and you can play them anytime. Whether on the bus or in a queue waiting to be served, you can wager easily.
The Creditability and Convenience of Online Gambling
A federal authority regulates many credible online poker site. As a result, there is improved customer trust in their transactions. Many cultures are also accepting gambling in general as an ethical endeavor which is a great improvement in public confidence in the process.
Marketing campaigns with celebrities to promote online gambling have also been fruitful. Many players are now familiar with the online betting platforms, and the casinos benefit from more wagers.
Many online poker casinos accept a wide range of payment options. Many players find it convenient to have different payment options for gambling. You can transact from an e-wallet, credit card, or virtual currency.
Online casinos have strict cybersecurity measures to prevent hackers from breaking their firewalls. These include SSL certificates and 128-bit encryption systems that are very hard to decrypt.
Online gambling is fast. Players can withdraw their winnings instantly, and deposits reflect almost immediately. Waiting for a transaction to reflect can scare off potential punters, especially when other problems accompany the delays.
Positive Reputation and Good Customer Support
Suppose there are one legal online casino scores better than its traditional counterparts in customer service. Casinos have invested heavily in excellent customer services to provide quality services to their customers.
Online casinos have FAQ sections containing regularly asked questions their customers answer a dedicated 24/7 customer support that answers all the customers’ concerns submitted for address. Your query will most likely be sorted by a chatbot or a customer care agent within a day.
Many players are also attracted by welcome bonuses and loyalty programs that online poker sites provide for their customers. Many legal online casinos have a solid reputation for paying putters their winnings in time and accurately.
Conclusion
Online gambling is continuing to grow every day. As more states continue to legalize online gambling, the number of online poker sites will continue to rise. Many players are also attracted by the huge bonuses these sites offer.
Also, a key trend to watch is how cryptocurrency promotes online gambling and business. The casinos also have to work the extra mile to curb the effect of illegal online gambling, which has tainted the picture of online gambling in the US for a long time. Both players can be sure of more online betting options with better security features and fast payments.
