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EvanderLockhart   Image Posted Mar.16th, 2024, viewed 88 times

What's Next for Online Gambling in 2023?

Yo, check it – 2023 is shaping up to be a wild ride for online gambling. PlayUSA is calling it now: we're gonna see sports betting pop off in two more states and, get this, one state is gonna hit the jackpot with online casino legislation. Plus, four fresh states are gonna roll out sports betting, pumping up the volume by a whopping 20% more cash in the game. That's the word on the street for 2023 and beyond.

So, let's break it down and see what's what, shall we?

Today's Sports Betting Scene in the US

Ever since 2018, when the feds stopped hogging the action, sports betting has been exploding across the US. But here's the kicker: there are still tons of folks who can't get in on the action legally in their own backyard my company. We're talking big hitters like California, Texas, and Florida – they're totally MIA on the legal online sports betting map.

When it comes to online gambling, like casinos and stuff, we're just getting started in the US. There's a whole lot of room to grow, especially in some heavyweight states – I'm looking at you, New York.

Right now, 31 states plus Washington, D.C. are cashing in on legal sports betting. Four more are all dressed up and ready to party, they're just waiting for the music to start. Maryland's getting its gear together to level up from just brick-and-mortar to the digital big leagues bbc.

Once all these spots are live and kicking, we're gonna see legal sports betting open doors for nearly 60% of American grown-ups across 35 states and D.C.

Out of all the places where it's happening right now, nine are keeping it old school with in-person betting only, while the other 23 are riding the online wave. And get this – six of those on-the-ground operations are exclusively run by tribes. All in all, they've raked in over $45 billion in bets just in the first half of 2022, which is more than double what they did the same time last year. Bettors have handed over a cool $4 billion to operators so far.

And by the time we close the books on this year, we could be looking at nearly $100 billion in bets across the board beste-casinos.com.de. If the second half keeps up the heat, we might just bust through that number

Top Gambling Nations: Who’s Betting Big?

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Tomorrow's Bets: The Future of US Sports Betting

Let's get real – the numbers we see today aren't gonna stay the same forever. The US sports betting market is like a rocket mid-launch, blasting through the biggest boom of legal gambling this country has ever seen.

The fresh markets are killing it, especially the new kids like Arizona and New York online. Thanks to all the cash thrown around to hook new customers, these states are hitting their stride way faster than the old guard did.

But what about growing room?

Maxing Out? The Potential in Existing Betting Markets

Recent cash flow is hinting that some of the OG markets are starting to hit their peak. Take New Jersey – it used to be the top dog, but now Illinois is breathing down its neck as Jersey's pace cools off. New Jersey will still finish the year strong, but the numbers show it might start

The Dynamics of the Gambling Industry

to slip a bit in 2023. Still, a little bump up wouldn't surprise anyone.

Illinois is trailing by about a year, but it's growing fast, just like Jersey did back in the glory days of 2021. If things keep on this path, by the end of 2023, Illinois could be standing shoulder to shoulder with New Jersey cnn, both pulling in between $11 and $12 billion in bets.

Michigan and Pennsylvania, on the other hand, seem to be hitting a lower limit. Their growth is cooling off, especially in Pennsylvania, where they're hovering at around $500 in bets per capita. Meanwhile, states like Colorado, Indiana, and Iowa are showing off with over $800 – and Colorado's gunning for a grand.

Pennsylvania might also feel the squeeze with New York expanding and Ohio gearing up to get in the game. It's tough to see how Pennsylvania can kick it back into high gear next year, so they might be more likely to fall back than leap forward in 2023.

Then there's the question of whether the new hotshots like Arizona and New York can keep the momentum or if they're just riding the high of their launch promos. As the fall season rolls in, we'll get a clearer picture of how much gas is left in the tank for these different slices of the market.

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