Sports betting is expected to drive the $32.95 billion North American online gambling market by 2030. Illegal gambling is still very common, though, and if enforcement is not strengthened, consumer losses could rise.
By 2030, the North American online gambling market is expected to be valued at $32.95 billion, according to a report published by industry researchers Research and Markets.
Over the following five years, this development is expected to expand at a compound annual growth rate (CAGR) of 12.2%.
The ease of accessing online poker, sports betting, and casino games from almost anywhere is contributing to the industry’s increasing appeal. Innovation in financial technology has also accelerated the online migration of users.
Due to growing state-level legalization, sports betting held a 49% market share in 2024, dominating the market sector. Nevertheless, desktop platforms had the biggest share last year, even with the growing trend toward mobile.
READ MORE: New Jersey Sets Another Record for May’s Online Casino Revenue at $246.8 Million
CFG: Legalization without enforcement increases losses
In the meanwhile, a new addition to the 2024 USA National Online Gambling Report has been published by the Campaign for Fairer Gambling (CFG). It showed that 74% of the gross gambling income (GGR) in the United States came from illicit internet gaming.
According to the supplement, which was co-authored with the online market intelligence firm Yield Sec, legalizing online gambling at the state level without making any attempt to stop illicit activity may result in a 261% rise in consumer losses.
Courtesy: https://www.covers.com, https://www.casino.org, https://pechanga.net
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