USA Vs. Europe Gambling Market

Today, people are in constant search for entertainment. There’s so much variety on offer that every industry in the field is experiencing growth. Online gambling is no exception.

According to gambling statistics, 26% of the planet’s population enjoys this pastime, which means that 1.9 billion people worldwide gamble. Going by a UK study, players want simplicity, instant gratification, and an engaging and rewarding winning experience. All things that online gaming platforms provide. Increasing smartphone use and easy access to these sites are what’s driving the gaming industry.

Thus, it should come as no surprise that the online gambling market is going to hit $127 billion in 2027, registering an annual growth rate of 11.5% in the following seven years. The implementation of the freemium model and the popularity of online betting will perpetuate the proliferation of gaming platforms and facilitate market expansion.

USA Gambling Market Facts

Together with Macau, the US tops the list in worldwide betting revenues. However, US online casinos are becoming an increasingly important part of the global market.

There’s no doubt that the US gambling industry as a whole is booming. Between 2017 and 2018, revenues grew in all areas. Land-based casinos numbers went up from $41.2 billion to $51.4 billion, and so did those of online gambling, from $247.5 million to $306.5 million.

In 2016, estimates said that the online gambling market in the US would reach $4 billion by 2020. This didn’t occur due to slower than expected legalization, with currently only three states allowing online casinos. Delaware, Pennsylvania, and New Jersey.

The Garden State is the major player and pioneer on the US online gambling market having legalized the activity back in 2013. New Jersey contributed $298 million out of the $306.5 million in online gambling revenues in 2018. In 2019, the state experienced a 61.6% increase and ended the year with $482 million in online casino revenues, proving that it’s the mecca of online gambling in the country.

There is no federal law against gambling online in the US. Each state can decide if they want to legalize the activity or not. Today, 48 of them permit some sort of live gambling, with Hawaii And Utah being the only two exceptions. Players are not prosecuted for playing real money slots on off-shore sites it’s just that American’s cannot operate online casinos on US soil in states that don’t allow it.

Europe Gambling Market Facts

Online gambling is a huge business in Europe. The EU market is the largest and most competitive in the industry. It takes up 49.2% of the global market and it has remained stable despite pending legalization elsewhere.

Internet gaming accounted for 23.2% of all gambling revenue across the 28 EU member states. The market is growing by 10% per year and annual revenues will hit €29.3bn in 2022, an expected increase of almost €4bn in two years.

There is no sector-specific legislation when it comes to gambling in the EU. All countries are completely autonomous in the way they organize their gambling service and most allow at least some games of chance on the internet.

Most major markets in Europe either permit the activity and regulate it, or do not bother prosecuting those that partake in online gambling. Three countries hold the total market revenue in Europe – The UK, France, and Germany. In the latter, the sector has been largely a grey area and the activity illegal, except for several operators who had special permission. But according to new regulation starting the 1st of July, Germany will officially legalize online casinos.

USA Vs. Europe

Currently, there’s no contest between the two. Europe stands head and shoulders above the US and has by far the more developed and regulated market. EU countries make up half the global market, while the US brings in a tiny fraction of EU revenues in the sphere. Lagging legalization is stunting the potential development of online gambling in the states.

Currently, only Michigan has passed laws that will make online casinos legal in 2020. The rest of the country is focusing on getting sports betting legalized and doesn’t show much interest in providing slot games for American players, besides the millions in tax revenues these platforms have generated for New Jersey.

Land-based casinos are a huge boost to a country’s economy and their virtual counterparts provide a lot of the same benefits. Despite popular belief, gambling is mostly a harmless activity that helps the economy, society, and the player. In regions where it’s illegal individuals suffer from inadequate addiction support and are more vulnerable to fraud. Legalizing gambling protects citizens and creates a safe environment for them to play in.

About OUSC

OnlineUnitedStatesCasinos.com was created in 2013 as a result of the need to find reliable online casinos that accept US players and would approve American deposits. In the present it is the leading USA online casino authority.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes