Internet casino gambling in the United States has a bright future ahead, according to industry experts and executives, who participated in this year’s SBC Summit North America. Despite a range of obstacles that are currently thwarting its expansion and concerns regarding its impact on brick-and-mortar casinos, the overall sentiment from the industry is positive.
Industry Executives Optimistic Despite Sluggish Uptake of iGaming
The progress of legalizing online casino gambling in the US has been slow but still a number of US states, including Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia, have already introduced it. Despite this slow uptake, industry experts and leaders believe that the future of gambling lies online.
Elizabeth Suever, a vice president at Bally’s Corporation, noted that consumers, particularly millennials, have changed their habits considerably and are more and more reliant on their smartphones for anything from shopping to banking services making their lifestyles predominantly mobile-centric. She added that this is where gambling is going to as well, reported the Associated Press.
However, these positive sentiments do not reflect the state of the market. Despite online sports betting being available in 38 US states and Washington D.C., internet gambling has remained very limited. Even Nevada, the Mecca of gambling, has only introduced online poker and no online casino games.
Controversy Amidst Hope: Addressing Concerns in US Online Gaming Expansion
Shawn Fluharty, president of the National Council of Legislators from Gaming States, highlighted that there is a significant disparity between the extensive growth of sports betting following the US Supreme Court’s landmark decision in 2018 and the next-to-non-existent expansion of online casino gaming. However, he also expressed optimism about the eventual uptake of igaming.
Brandt Iden, a vice president at Fanatics Betting & Gaming, echoed this sentiment. He commented on how important it is to embrace online gaming for the industry as a whole in order to be successful. He also stressed that the industry has to make efforts to educate legislators regarding the benefits of legalized online platforms compared to illegal offshore gambling websites.
The industry’s stance may be positive, but there are still many concerns regarding the negative implications of the spread of iGaming across the US. These include fear of increased addiction rates and the cannibalization of revenues from physical casinos.
However, online gambling supporters argue that iGaming can complement traditional casinos and stimulate economic growth. Adam Glass, an executive at Rush Street Interactive, highlighted that there is a potential for new job openings and synergy between online and offline gaming operators.