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United States Online Gambling Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

  • PDF Icon

    Report

  • 110 Pages
  • June 2022
  • Region: United States
  • Mordor Intelligence
  • ID: 5119614

FEATURED COMPANIES

  • 888 Holding PLC
  • Cherry Gold Casino
  • DraftKings Inc.
  • El Royale Casino
  • Flutter Entertainment PLC
  • William Hill PLC
The United States online gambling market was valued at USD 2,178.29 million in 2020, and it is projected to register a CAGR of 17.34% during the forecast period (2022-2027).

In 2020, the global crisis COVID19 pandemic has drastically affected the United States online gambling market. This is because of certain rules and regulations that were imposed by the government of several nations, moreover, due to the sudden hit by the novel coronavirus the economic growth rate was fallen significantly. The fall in economic growth rate has resulted negatively in the money supply chain in the market, due to which many consumers were saving their earned money so as to sustain their basic needs in the first quarter of fiscal 2021. Later, when the market gained certain momentum and the money supply chain moved, the consumers were seeking certain platforms to promote their capital portfolio, for instance, some of the consumers invested in stocks whereas some of them were preferring the online gambling platforms, this was because they were offered with several game types and were also easily earning the profits from the capital invested. Thus, the pandemic has resulted in a growth of the United States online gambling market from the third quarter of the fiscal 2021.

The rising demand of the consumers towards gaining profits in short interval of time is one of the major reason that is boosting the United States online gambling market.

Seeking the rising demands of the consumers, the providers of the online gambling paltforms are introducing several innovation and creativity enabling the consumers to feel royal like they feel in traditional gambling and in casinos.

Key Market Trends


Consumer's Inclination Towards Online Gambling


With the changing lifestyle of the consumers, the culture of making profits and expanding the individual's portfolio in terms of revenue has also been changed, as many of them use the online gambling platforms, this is because these platforms provide them with numerous games by which the individual can play and win a certain amount of revenue with respect to their wins. Eventually, with the consistency in developing urbanization, the games of different countries are been spreading over various nations, this also attracts the interest of the consumers as they play them for the first time. Moreover, the developed apps provide the consumers with a loyal gesture which is one such major factor that draws their attention to play gambling in the online mode. Further, with the rising culture of making huge profits, the preferences of the consumers are shifting from non-profitable games to profit-making games, thereby, the individuals are preferring these online platforms for gambling as it enables them to enjoy the game and also make a profit, which is one of the major reason that is fueling the growth of the United States online gambling market.



Sports Betting Holds the Largest Segment


Due to the developing interest in sports in the country, the demand for sports betting in the sector of online gambling is majorly preferred among the consumers of the United States. Moreover, in the field of sports betting, the consumers are focusing on those sports in which they have a certain amount of knowledge, this enables them to understand the ongoing game and helps them to move a step towards profit. Eventually, with the increased protocols of safety such as understanding the terms and conditions, licenses, and other documents of the consumers are been registered on the online platform before they start any game, this helps to maintain the safety of investments done by an individual, which is one of the major reason the consumers are preferring the online gambling, and due to the fact that in sports betting the user completely understand the game post and then they invest maintains a chance of gaining high profit with low risk is one such factor they are trending towards sports betting segment of the United States online gambling market.



Competitive Landscape


The United States online gambling market is a mature market, this is due to the existence of several domestic and international players in this segment. Some of the top players in this sector are 888 Holdings PLC, William Hill PLC, Eldorado Resorts Inc, MGM Resorts International, and Cherry Gold Casino. Major players are focusing on mergers and acquisitions to expand their presence in the country and enhance their brand portfolio to cater to various preferences of the consumers. Companies are also increasing their investments in R&D to develop user-friendly online gaming and mergers and acquisitions to expand their presence and increase their brand portfolio. Companies are also focusing on establishing strategic partnerships to reach a broad range of the market and to enhance future growth opportunities.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

FEATURED COMPANIES

  • 888 Holding PLC
  • Cherry Gold Casino
  • DraftKings Inc.
  • El Royale Casino
  • Flutter Entertainment PLC
  • William Hill PLC

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Game Type
5.1.1 Sports Betting
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Slots
5.1.2.3 Baccarat
5.1.2.4 Blackjack
5.1.2.5 Poker
5.1.2.6 Other Casino Games
5.1.3 Other Game Types
5.2 By End Use
5.2.1 Desktop
5.2.2 Mobile
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 William Hill PLC
6.4.2 MGM Resorts International (Borgata Hotel Casino & Spa)
6.4.3 Flutter Entertainment PLC
6.4.4 Caesars Entertainment Corporation
6.4.5 DraftKings Inc.
6.4.6 888 Holding PLC
6.4.7 Golden Nugget Hotels and Casinos
6.4.8 Churchill Downs Incorporated
6.4.9 Cherry Gold Casino
6.4.10 El Royale Casino
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

A selection of companies mentioned in this report includes:

  • William Hill PLC
  • MGM Resorts International (Borgata Hotel Casino & Spa)
  • Flutter Entertainment PLC
  • Caesars Entertainment Corporation
  • DraftKings Inc.
  • 888 Holding PLC
  • Golden Nugget Hotels and Casinos
  • Churchill Downs Incorporated
  • Cherry Gold Casino
  • El Royale Casino

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