And so goes 2024, with another year for online gaming ending. It will not take long before 2024 comes into full view, with the industry’s future promising. Online sports betting is set to expand into crucial states in the United States, like North Carolina.
Meanwhile, Minnesota and Georgia have made crucial legislative progress to help them join the twenty-nine states (29) that have made online sports betting legal. iGaming – the digital versions of casino games – is still on the rise, although it is slower than sports betting’s meteoric rise.
Now that the year has ended let’s look forward to the gambling trends coming in 2024!
1. iGaming
iGaming is thriving and more than surviving in the states that authorized its existence. This year, it has gathered high revenue, especially in bellwether gaming like New Jersey and Pennsylvania. New York and other similar states are predicted to find it hard to ignore the money left on the table by waiting to regulate iGaming, which could produce anywhere from 5-10x of sports betting revenues.
Downstate casinos are predicted to be the next target of attention. There are already plans from Senator Joe Addabbo’s end to introduce legislation to bring iGaming into the fold.
The platform iGaming is very complementary, especially for online sports betting. As a result, it can produce more revenue for the state than retail casino expansion. Moreover, iGaming can even be the playing field for existing upstate casinos. This will lead to them expanding their digital products to customers statewide.
A notable case study is New Jersey from over the last three (3) years. The platform grows continuously, while retail casino revenue is flat. States will be forced to admit that digital delivery is important to capture and retain a broader consumer base to supplement the aging demographic of traditional casino visitors.
2. Philippine Gambling Prediction
We predict that Philippine gambling will also take steps. Its gambling authority, PAGCOR, will private Casino Filipino-brand casinos, thus evolving into a regulatory agency. The Philippines has been hoping to be removed from the Financial Action Task Force’s “grey” list of money-laundering countries due to several steps taken by the Marcos Administration to bolster its anti-money laundering (AML) regime.
However, what is critical is the political willpower of the regime and the regulatory process relating to existing casinos and POGOs in implementing such reform.
3. Tribal Gaming Litigation Will Be Crucial
Tribal gaming and online gaming have been uncertain, and the roots date to old federal law, the Indian Gaming Regulatory Act of 1988. During the law’s conception, the proponents had not contemplated the possibility of tribes offering their products via digital technology to people not on tribal land.
Michigan and other states have found a way to get tribes involved in statewide online sports betting and iGaming by commercial agreements. On the other hand, it has been rockier for Florida, where litigation over the tribes’ gaming compacts has wound through federal court and is reaching the Supreme Court.
4. Mobile Casinos
Smartphones have allowed players more freedom of movement. They are also among the most common ways of accessing mobile gaming sites. The trend has since continued to grow. This has led to leading software developers launching more mobile-friendly games. Many gambling companies have also continued to make their gaming websites easier to play on mobile.
Wrapping Up
To stay on top of the gaming industry, many gaming companies must remain on top of their game. Businesses can be competitive, so they need to put in effort and time to ensure they deliver the best features and services available. We look forward to what trends will continue and stop in 2024!
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