iGaming's growth is anticipated to extend into additional states

Quick Intro

The entry of Rhode Island into the realm of online gambling marks a significant milestone in the digital transformation of the US gambling industry, signaling an unstoppable trend towards the expansion of internet gaming across more states. This development comes amidst a technological revolution that merges entertainment with digital convenience, opening the door for further legalization of online casino games across the nation.

Predicting the Next Wave: New York, Maryland, and California Eye iGaming Opportunities

At the forefront of this movement are predictions from industry experts at the Next io forum, who anticipate states like New York, Maryland, and even California as potential newcomers to the iGaming scene. Despite facing regulatory challenges and concerns over the impact on land-based casinos, the prospect of tapping into this burgeoning market presents an irresistible opportunity for growth.

Rob Heller, the CEO of Spectrum Gaming Capital, remarks on the unfulfilled ambitions within the industry that now pave the way for further expansion, as reported by the Associated Press. West Virginia state delegate Shawn Fluharty underscores New York and Maryland as likely candidates to adopt internet gambling soon, with Brandt Iden, a senior executive at Fanatics Betting and Gaming, highlighting the legislative complexities and the necessity for lawmakers to gain a deeper understanding of the industry’s dynamics.

Online Gambling: A Complement to Traditional Casinos?

The debate on whether online gambling might cannibalize traditional casino revenue continues among legislators. Nonetheless, industry leaders argue that digital platforms can serve as a complement rather than a competitor to brick-and-mortar establishments. Evidence from Pennsylvania, which saw new casino openings post the introduction of online gambling, supports this argument.

Maryland’s consideration of internet gambling revolves around the potential for increased tax revenue and job creation. In New York, while legislators push for online gambling, it notably missed inclusion in Governor Kathy Hochul’s budget proposal.

The Impact of iGaming on Traditional Casino Revenue: Insights and Projections

A study  sponsored by the iDevelopment and Economic Association, highlights a 2.44% quarterly boost in traditional casino revenue in states with regulated online gaming. Edward King of Acies Investments is optimistic about California’s future inclusion in the online gambling landscape due to its vast market potential. In contrast, Adam Greenblatt of BetMGM casts doubt on California’s immediate approval for online gambling, reflecting on the state’s historical hesitancy.

Texas remains averse to online gambling, maintaining a two-decade-long resistance. However, Rhode Island’s recent adoption of internet gambling underscores the growing momentum for nationwide expansion, suggesting a future where more states join the movement towards embracing digital gaming platforms.