Online Gambling Market in the USA to Reach $23.33 Billion in 2024
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According to recent industry reports from Statista, revenue in the American online gambling space is projected to reach a whopping $23.03 billion in 2024 and accelerate at an annual rate of 8.86% each year to reach $35.21 billion by 2029. Within this growing market, the online sports betting segment is also expected to see the strongest returns–with projected revenues of $9.65 billion in 2024 and $17.07 billion by 2029. As the user base expands and regulations are relaxed, expect new forms of online betting across the USA.
Online Casinos
Online casinos are a big part of the expanding online gambling space. They're projected to bring in $7.65 billion in revenue in 2024 in the USA. What's most mind-blowing is that the number is expected to continue increasing over the next few years. Analysts believe revenue will hit $10.73 billion by 2029.
Not only will total revenue show some significant increase, but the player base will also increase. It is estimated that by the year 2029, the number of people playing at American best online casino platforms will reach 52.6 million. This will amount to a player penetration rate of 15%, down from 9.4% in 2024.
When it comes to comparing the revenue of online casinos in the US with other countries, the United States unsurprisingly leads the way in total projected revenue. The fact a staggering $7.645 billion is expected from American players this year is no mean feat.
Meanwhile, Canada is expected to have the highest player penetration rate globally at 35.6%. This achievement also present in other jurisdictions can be attributed to the fact that trusted online casino platforms, including those at https://gry-hazardowe-zadarmo.com/kasyno-online/, have invested their energies and money to provide,
Attractive bonuses,
Popular payment methods and,
A massive game selection.
So, while the US makes the most money, Canada has the greatest percentage of its population playing online casino games regularly.
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Sports Betting
If you're into sports betting, the online sports betting world is the place to be - and where to invest. This segment of the gambling industry is growing faster than any other, and it's easy to see why.
By the end of 2024, online sports betting will hit nearly $10 billion in revenue. And things will keep accelerating from there - analysts say online sports betting in America will break $17 billion in annual revenue by 2029. That's a growth rate of over 12% each year!
The user base is booming, too. They predict over 54 million people in the US will be betting on their favorite teams and players online within the next decade.
Moreover, people are betting and spending more on bookies than ever before. The projected average revenue per user (ARPU) for online sports betting between now and 2029 is $256.60 spent per person each year.
Australia currently leads in sports betting revenue, poised to earn nearly $100 million more than the USA in 2024 alone. But Canada isn't far behind, with nearly half of its population expected to place an online wager at some point and have the highest user penetration rate of around 49% predicted.
Wherever you are, it's obvious that online sports betting is here to stay. With numbers like these, it's easy to see why more and more fans are participating every day. The future of gambling is digital, so if you want to participate, the online sports book is the place to be.
Lottery
While online lotteries may not grow as fast as sports betting or casinos, they’re still a steady part of the digital gambling world. Revenues are expected to hit $5.74 billion in 2024 and climb to over $7 billion by 2029.
User numbers will also increase over time. By 2029, around 14.7 million people in the USA are predicted to play online lottery games. That’s even with a relatively low penetration rate projected to rise from 3.6% to 4.2% in the coming years.
On average, each lottery player contributes around $470 to the pot annually. This is nothing too extreme, but every small contribution accumulates in this multi-billion dollar industry.
Unsurprisingly, the huge US market will dominate lottery revenues, estimated at nearly $5.7 billion in 2024 alone. However, South Korea is poised to have the highest percentage of residents playing online lotto games, with a rate of around 6.5%.
While online lotteries may grow slower than some sectors, the future still looks promising.
In summary, the projections show tremendous growth across online gambling in the coming years, with top casino online platforms generating billions annually from over 52 million players in the US alone. Meanwhile, sports betting revenues are increasing rapidly, surpassing $17 billion with over 54 million engaged users. Lotteries also show steady potential, with billions in revenue and increasing adoption globally. Overall, the online gambling industry as a whole is set to be worth over $35 billion by 2029.
