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<\/figure><\/div>\n\n\nThe rate at which online gambling revenues are growing could easily break records this year. When you take into account how many players are betting online during these times, it should come as no surprise. Plus, with the additional input from investors, the market could end up being the lifeline that the economy so desperately needs to stay afloat. <\/p>\n\n\n\n
Up until last year, most U.S. states had taken a static stance to ensure online gambling remained an outlawed pastime. But in states where it has been legal for the last 12 months, online wagering has doubled, with the American Gaming Association (AGA) reporting an increase of 13 billion dollars in revenue. <\/p>\n\n\n\n
Despite the significant uptick, bettors wagered an estimated $50 to $200 billion online illicitly in the states since the start of 2019. Not wanting to miss the chance to capitalize on this extra revenue means that now, over 20 U.S. states are looking to open up to sports betting and start easing restrictions for online gambling in general.\u00a0<\/p>\n\n\n\n
With places like Las Vegas<\/a> and Atlantic City bearing the heavy burden of the Covid-19 pandemic, new partnerships have begun to take shape as the demand for online casinos continues to skyrocket. Many online operators have also begun accepting players from abroad. This will lead the way to an even bigger spike in fiscal growth.\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n In a bid to relieve the suffering of tax shortages and the immense blow to state finances, several regions are now looking to legalize sports betting<\/a>. Even though it\u2019s been over a year since states were given the power to endorse their own laws surrounding sports wagering, many have still been reluctant to pass the Senate Bill. <\/p>\n\n\n\n Over 38 million American adults bet on the 2019 NFL. A further 24% of the population stated that they would have bet if it were legal in their state. Places like California and New York must now reconsider their current legal frameworks.\u00a0<\/p>\n\n\n\n New York, in particular, missed out on close to $165 million in sports wagers in June and July. This is due to the fact that only in-person betting is permitted there. As a result, New Jersey absorbed this revenue thanks to owning the closest in-person sportsbook in Rutherford. New Jersey has also seen a boost of 65% YOY since the pandemic, and around 9.5% in tax and revenue shares.\u00a0<\/p>\n\n\n\n The District of Columbia passed a bill to legalize sports betting in 2020. California also set out to legalize sports betting in recent months. But despite the $195 million projected in tax benefits if the state were to do so, it still hasn\u2019t received the votes or support needed to pass the bill.\u00a0<\/p>\n\n\n\n If it\u2019s not worth their time and money, very few business owners will take up investment opportunities. That being said, the online gambling industry has been thriving in the last few years. This is why so many entrepreneurs have their eyes on the financial space and revenues that casinos have been generating online.\u00a0<\/p>\n\n\n\n As such, more and more investors are partnering with major brands and beginning to launch their own casino sites. Investors funnel the majority of the cash into new betting companies with the hopes of making a proper dent in the industry.<\/p>\n\n\n\n While there are a lot of open opportunities for startups, existing online casinos have been reaping a big portion of the benefits. With or without the new competition, this is likely to continue as market revenues hit $59.6 billion in 2020. They are projected to grow by 11.5% between now and 2027. This only adds to the reasons why online gambling stocks pose some of the most attractive opportunities in the market right now.\u00a0<\/p>\n\n\n\n With the online gambling market and revenues forecast to grow, many online betting companies have also partnered with sports stars and casino affiliates to raise brand awareness. Engaging online players through advertisements, and driving traffic through one-time offers and special bonuses<\/a> has proven highly effective. <\/p>\n\n\n\n Many of the converted sales come from mobile sources. And affiliates have had great success with push notifications, customized ads, pay-per-click, display banners, and redirecting traffic to landing pages after users have visited specific URLs. The affiliate typically takes a cut once a certain number of customers have placed their first deposit. This cuts out much of the commercial middleman work for casino sites and giving them a higher return on investment.\u00a0<\/p>\n\n\n\n The more affiliate sites and active campaigns, the more potential players opt-in for the special offers \u2014 improving casino revenue further. And, as existing casinos already have a player base, share prices also tend to be lower. This allows investors to have much better control of their stake. <\/p>\n\n\n\n Another key reason why the online casino industry is thriving is due to the never-ending requirement for innovation. As is the case with all businesses, online casinos are always looking for new and exciting ways to bring in more players through new strategies and marketing techniques. <\/p>\n\n\n\n Online casinos excel in this because they have the advantage of being able to accommodate almost everyone. Offline casinos could only offer slot machines and table games before the revolution of online gaming. But online casinos aren\u2019t limited to one type of game. Online gamblers are almost always able to find a game (or variation of a casino game) that suits their preferences and needs.\u00a0<\/p>\n\n\n\n Moreover, the majority of online casinos don’t just focus on new business. They hand out regular rewards to their loyal customers and incentivize them with bonuses and freebies to keep them playing. These types of perks tend to offer customers a lot more than what a free drink or meal can do for them in a live casino.\u00a0<\/p>\n\n\n\n Above all, innovation is a clear signal to investors that a casino is serious about competing and protecting its position in the market. Casinos that churn out new, high-quality games maintain a solid reputation. They also earn respect from players, developers, affiliates, and investors prepared to work alongside them.\u00a0<\/p>\n\n\n\n If you\u2019re an investor, the above shows why you should pay special attention to online gambling stocks in 2021<\/a>. The stock market always comes with an element of risk. But online gambling is on the path to becoming one of the largest revenue-generating industries out of them all. Check out the difference between Speculation and Gambling<\/a>.<\/p>\n\n\n\n The risk of losing shares is nowhere near that of restaurants, oil, or clothing. So long as the world remains in the tight grip of the pandemic \u2014 online gambling will continue to remain one of the least saturated markets with opportunities to generate some of the highest returns. <\/p>\n","protected":false},"excerpt":{"rendered":" Online casinos saw a huge influx of investors in 2021, and the growth continues. Due to nationwide lockdowns and shrinking state budgets, governments and lawmakers are now pushing harder than ever before to legalize online gambling and bring in new sources of revenue.\u00a0Time to invest in online gambling. Gambling is one of the most promising […]<\/p>\n","protected":false},"author":11,"featured_media":1060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"yoast_head":"\nBills to Pass Sports Betting<\/strong><\/h2>\n\n\n
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<\/figure><\/div>\n\n\nNew and Existing Online Casinos <\/strong><\/h2>\n\n\n
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<\/figure><\/div>\n\n\nAffiliates and Marketing<\/strong><\/h2>\n\n\n\n
iGaming Breakthroughs and Innovation<\/strong><\/h2>\n\n\n\n
Online Gambling Stocks: Final Thoughts<\/strong><\/h2>\n\n\n\n