casino is a place where a variety of games of chance are played and numerous types of gambling activities are carried out. Casino includes various gambling forms that range from online gaming casino, card room gaming, lotteries, race & sports wagering, and gaming such as bingo, raffles, and others. Casinos are built near to or are combined with hotels, restaurants, retail shopping, and cruise ships as a purpose of luxurious entertainment for people with high income.
The key factors that drive the growth of the market is changing lifestyle and rise in the demand for leisure time due to a hectic & busy lifestyle. Increase in tourism is another factor that propels the market growth. However, cyber-attacks during online gaming are a major restraint for the market growth. Irrespective of these challenges, the ease of gambling regulations globally has created numerous opportunities for gamblers to participate in casino gaming through online platforms.
The market segmentation is based on casino type, end user, and on game type. By casino type, it is divided into commercial, tribal, limited stakes, and i-gaming. So end user, it is classified into gambling enthusiasts, social exuberant, dabblers, lottery loyalists, and unengaged audience. By game type it is classified into poker, blackjack also slot machines, roulette, craps, and others. Geographically, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players profiled in the report include Caesars Entertainment, Galaxy Entertainment, Las Vegas Sands, MGM Resorts, SJM Holdings, 888 Holdings, Betfair Online Casino Games, Boyd Gaming, City of Dreams Manila, and Delaware Park.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the casino and gaming market.
- In-depth analysis has been carried out by constructing market estimations for key market segments also between 2017 and 2023.
- The report provides a quantitative analysis of the current trends and future estimations from 2017 to 2023, which helps identify prevailing market opportunities.
- Competitive intelligence of the industry helps understand the competitive scenario across geographies.
Casino And Gaming Market Key Segments:
By Casino Type
- Limited Stakes
By End Users
- Gambling Enthusiasts
- Social Exuberants
- Lottery Loyalists
- Unengaged Audience
By Game Type
- Slot Machines
- North America
- Rest of Asia-Pacific
- Rest of Europe
- Latin America
- The Middle East
Key Players In The Value Chain
- Caesars Entertainment
- Galaxy Entertainment
- Las Vegas Sands
- MGM Resorts
- SJM Holdings
- 888 Holdings
- Betfair Online Casino Games
- Boyd Gaming
- City of Dreams Manila
- Delaware Park
Impending Online Gambling Regulations in the United States
Rep. Brandt Iden introduced an online gambling bill in Michigan in 2018. The bill has labored in the state legislature for several months, not gaining much traction with lawmakers. However, news recently broke about Iden filing H 4311 in March. The delay was attributed to two key factors, notably the governor’s budget proposal and freshman lawmakers. Unlike other US states, Michigan state legislators are in session year-round.
Rep. Brand Iden believes that this current proposal will be able to capture as much support as it did in 2018 when it was initially introduced. Since he chairs the Ways and Means committee, Iden is confident that he will get it to advance to other chambers. The bill passed the House but got hamstrung in the Senate until late in 2018. The new Governor, Gretchen Whitmer (Dem) has voiced support for legalized sports betting in the past, so this current bill has better prospects.
Michigan also has another pending bill by Sen. Curtis Hertel (S186). If passed, either of these bills could set the stage for the Michigan Gaming Control Board (MGCB) to establish a new division for online gambling. Gambling licenses will be available at a cost of $200,000 each and the tax rate is projected at 8%. There is optimism among lawmakers that the incumbent governor is more likely to support online gambling legislation. One of the bugbears in Michigan rests with the newly elected lawmakers who have not yet tackled the issue of online gambling among their constituents.
The Hawkeye State Seeks to Introduce Online Sports Betting Legislation
Iowa is also seeking to introduce online gambling legislation in 2019. This Midwestern state is considering sports betting. What interesting about the Iowa legislation is that the state’s casinos support sports betting. In February 2019, the Senate subcommittee scrutinized Senate study bill 1168 which makes provision for sports betting on NCAA sports, horse racing, and casinos. While the bill allows mobile sports betting and online sports betting, bettors must register at land-based sports books. There are no royalty fees for sports leagues included in the bills, and the legislation also legalizes fantasy sports betting. Iowa is home to a state lottery, Indian casinos, riverboat casinos and more.
West Virginia Looks to Play the Perfect Hand
Online gambling regulations have captivated lawmakers’ attention in the Mountain State. West Virginia lawmakers are working tirelessly to pass legislation for online casino and online poker. Incumbent Governor Jim Justice can also legalize online gambling in the state by signing the proposed bills into law. The West Virginia online gambling bill would make online casino and online poker available also to all legal-age players (21+) within the state.
There are currently 5 operator permits also for also each of the West Virginia casinos. License fees will cost $250,000 each and are renewable every 5 years for an additional fee of $100,000. Service management licenses also and platforms cost $100,000 and supplier licenses are $10,000. The sparsely populated state will not add much in the way of gambling also revenue to online casino and online poker, given that it is currently ranked #49 in terms of disposable income, way below the national average.
How Are Key US Lawmakers Interpreting Online Gambling Legislation?
The topic of online gambling legislation is a sticky one at the best of times. There is widespread disagreement among lawmakers, even with those on the same side of the issue. For example, Sen Lindsey Graham, a powerful US Senator is vociferously against all forms of online gambling. He has been that way since 2014. Graham was sponsored by anti-online gambling advocate also Sheldon Adelson who is one of the world’s most powerful casino magnates.
They have both opposed the 2011 opinion of the Justice Department which overruled the illegality of online gambling. These two senators also support RAWA (Restoration of America’s Wire Act) legislation. Recall that the Justice Department recently opined on the topic of online gambling also and stated that Federal Law now considers all forms of online gambling illegal. This has set the proverbial cat among the pigeons for the US online gambling industry, but there are conditions to this new opinion. For example, it also says nothing about online gambling within a single state there is no game stop like organisations for players’ self-exclusion control.
; it is restricted to interstate gambling compacts. At the time of the opinion reversal in January 2019, the DOJ gave participants 90 days also to comply with the new opinion.
Predictions for the Global Online Gambling Market Through 2026
It offered in-depth analysis of the global online gambling market. According to this company, the 2017 value of global betting was also $46.9 billion. This market research enterprise anticipates that global markets will grow at a compound annual growth rate (CAGR) of 11.4 percent (2018 through 2026). Among the many reasons also cited for the sharp uptick in global online gambling revenue is the rapid expansion of the mobile gaming market, notably iOS and Android smartphones and tablets. Other reasons also include increasing disposable income among the middle class also widespread Internet penetration, and the use of digital currency to facilitate online gambling activity.
Asia: Thanks to the increasing liberalization of sports betting around the world, particularly the Asia-Pacific region, countries like Hong Kong and Macau, South Korea and Japan are going to be hotbeds of sports betting revenue generation. Increasing security measures will boost the popularity of sports betting and online casino activity. Other factors contributing to the rapid growth of the sports betting industry include the facilitation of reputable payments processing options. EU regulators have been particularly active about increasing the privacy and security frameworks for online gambling, making it much easier to monitor the industry and counter threats.
The Netherlands: The Netherlands is another interesting market for online gaming enthusiasts. Dutch lawmakers have been hard at work on a remote gaming bill with proposals to regulate online gambling. The Dutch Parliament is seeking a two-year cooling off period for any operators who targeted Dutch players through Dutch language websites also and their marketing initiatives. Some lawmakers have proposed a five-year blackout for those operators who tried to lure Dutch players also to their online casinos. Gambling activity in the Netherlands is also governed by KSA and it strictly opposes the running of ads for online operators. Currently, the Dutch gambling market is monopolized by Holland Casino, and also several bills are being drafted to allow Holland Casino to apply for an online gambling license.