Despite having two of the most iconic gambling hubs in the world in Las Vegas and Atlantic City, the USA has been late to the party when it comes to online casinos. There are currently only six states in the country that allow iGaming sites to operate, but others are scrambling to get involved as well.
This is partly down to the incredible growth that New Jersey has seen over the last few years thanks to its involvement in the industry. Online casinos have brought in a vast amount of revenue to the state, and now other regions want to get a piece of the action.
Global Casino Growth Has Been Incredible
The global online gambling market is worth around $107 billion in 2024, up from $63.53 billion in 2022. The incredible thing is that it’s continuing to expand, and projections suggest it could experience a compound annual growth rate of 11.7 percent until 2030.
There are various factors behind this expected ballooning, with more widespread internet access being a huge driving force. The online world is starting to spread across Africa and India like wildfire now, and this has led to mass interest in online casinos in these regions.
The USA could be left behind if it doesn’t catch up with the rest of the world soon, and some states have already realized that. Projections for the country over the next few years predict that it will lead the way in the industry, with a market worth $23 billion by the end of the decade. For this to happen, it will require legislation to go through in many of the states that are currently pushing for online casinos.
New Jersey Leading the Way in the USA
There’s no doubt that New Jersey is the model to follow when it comes to iGaming in the USA. It was one of the first places to legalize online gambling in the country in 2013, and it’s now home to some of the top casinos in the world.
There has been rapid growth over the last few years, and a key factor has been NJ casino apps. These have helped market the games to mobile players, who can select where they want to play based on the offers available. These include deposit match and free spins bonuses at various sites.
When you look at the monthly figures for New Jersey, it’s no wonder that the state is seen as the model to follow in the USA. In February this year, the New Jersey Division of Gaming Enforcement reported $461.5 million in total gaming revenue. What’s even more remarkable is that the figure is up by 12 percent from the same month in 2023.
New Jersey is already way ahead of other states in the online casino industry, and it’s setting a winning model that should be replicated across the country. Now is the time for other states to act, as future technology such as virtual reality looks set to help the online casino industry expand even more.
By Chris Bates
