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Online Gambling Market in the US 2016-2020
POTENTIAL OF U.S. ONLINE GAMBLING MARKET CONFIRMED
Markets and Research findings independently confirm earlier Technavio estimates.
Predictions by the research firm Technavio earlier this week that US online gambling will grow at an impressive CAGR (compound annual growth rate) of more than 51 percent between 2016 - 2020 have been independently confirmed by another research firm, Research and Markets.
In a press release announcing its latest report "Online Gambling Market in the US 2016-2020" Thursday R&M forecast that the sector will grow at a CAGR of 51.71 percent between 2016-2020.
A member of the R&M research team commented in the report:
"One of the major trends in the online gambling market in the US is the business tactics adopted by vendors to attract players. Rewards such as loyalty points, discounts, and gift vouchers are no longer attractive to the existing players and do not motivate prospective players. It is important that the vendors provide rewards and offers that are more personal and customized, based on the demographic and psychographic profiles of the players."
According to the report, one of the key drivers for market growth will be popularity of online gambling. Online gambling extends the reach of the gambling games because it is web-based and does not require the physical presence of the players at the venue. The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling in the US, researchers found.
R&M observes that mobile ads are one of the strongest mediums of advertising, reaching an untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influences them to try online gambling.
The researchers conclusions tally with those of Technavio in assessing that in the US, the average age of an individual visiting a land casino is 45 years, whereas an average age of an online gambler is 34 years.
"The increasing presence of a younger population on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period," R&M opines.
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Gambling News :
Interwetten 2016 Earnings Results -
Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform
EU Online Gambling Tax Harmoney Dead -
Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.
Jack Lam Facing Big Fines in the Philippines -
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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