North America Online Gambling Market growth was estimated to be around USD 7 billion in 2019 and is expected to grow at a CAGR of 20% from 2020 to 2026.
Get more details on this report - Request Free Sample PDF
The increasing adoption of internet-based devices, such as smartphones and tablets, will allow users to effectively engage with online gaming sites at their comfort and convenience, propelling the North America online gambling market. The number of smartphone users in the U.S. is estimated to reach 275.6 million by the end of 2020. Smartphones are expected to play a significant role in the acceptance of sports betting by end users. The technological advancements in smartphones, such as improved graphics and extended storage capacity, is making gambling easily accessible over these devices. For instance, Apple, Inc. offered iPhone 5 with improved features such as a 4-inch retina display screen, 4G LTE networking support, and Apple A6 processor along with compatibility with sports betting sites. Providers are capitalizing on the opportunity by expanding their presence in the mobile betting market. For instance, in August 2019, William Hill PLC launched a mobile sports betting app for iPhones, iPads, and Android device users in Nevada.
Technological innovations, such as AI, chatbot, and machine learning, are transforming the gambling industry. Online gambling sites and land-based casinos are leveraging AI to analyze customer behavior and provide precise & more personalized services. The technology is used to learn and analyze customer’s playing habits and identify prospective customers. AI is used to verify customer information & documentation, speeding up the account opening times. The implementation of AI and chatbots executes certain tasks, provides answers to queries, and offers information on a range of topics instantly. This leads to improved customer experience, brand loyalty, and client retention.
The favorable legislation framework for sports betting in several U.S. states including Delaware, Pennsylvania, Nevada, and New Jersey will drive market growth. The declaration of the Professional and Amateur Sports Protection Act (PASPA) as unconstitutional by the Supreme Court in 2018 has encouraged several states to allow online casinos, online poker, and sports betting. The high revenue generation from online gambling is encouraging states to legalize sports wagering.
North America market players are closely monitoring the pandemic situation to reopen facilities and function normally. They are incorporating several strategies such as product launches through video streaming and webinars for their employees and customers. The businesses are working remotely to protect their facilities and communities while overcoming operational and IT workload challenges. To maintain continuity of business operations, companies are taking appropriate measures to ensure that supplies are received in a timely manner.
Some of the prominent players operating in the industry include Betsson AB, Betfred, bet-at-home.com AG, BetAmerica, Bet365 Group Ltd., 888 Holdings PLC, Boyd Gaming Corp. (BYD), DraftKings, Inc., International Games Technology, Kindred Group PLC, MyBookie, Penn National Gaming (PENN), Playtech, Scientific Games, Sky Betting & Gaming, The Stars Group, Inc., and William Hill PLC.