US markets continued to experience gains as online gambling concluded the year.
Delaware
Delaware’s iGaming revenue soared to a record-breaking $8.4 million in 2020, more than doubling their previous year’s earnings. This remarkable increase reflected a growth of over 133% compared to the corresponding period in the previous year.
Video lottery games accounted for the overwhelming majority of the state’s iGaming revenue, with a total of $6 million generated from more than $120 million wagered.
In the month of December, the tax revenue generated from iGaming in DE amounted to almost $700,000, with a total wagered amount of $17.5 million. This represents a significant growth of over 90% compared to the levels observed in 2019.
Furthermore, Delaware witnessed its highest number of newly registered players, totaling 572, since July 2020.
New Jersey is a state located on the eastern coast of the United States.
In December 2020, New Jersey witnessed a surge in record-breaking figures. The New Jersey Division of Gaming Enforcement (NJDGE) revealed a notable 8.9% rise in revenue compared to the previous year, primarily attributed to the significant contribution of online sports betting.
In December, the revenue from online gambling experienced a remarkable surge of over 101% in comparison to 2019, resulting in an impressive total of $99.5 million.
Golden Nugget emerged as the leading casino in the NJ market, generating a remarkable $29.4 million in revenue. Trailing closely behind were Borgata with $27.2 million and Resorts Digital with $21 million.
When we examine the yearly figures, we are astounded by the numbers! In 2019, revenue generated from online gambling reached $482.7 million, but in 2020, it soared to $970.3 million. Online casinos and slots contributed a staggering $931.5 million to this revenue, while online poker accounted for $38.8 million.
What is the reason behind these exceptional numbers?
As a result of the COVID-19 pandemic in the United States, land-based casinos have either temporarily shut down or are functioning with limited capacity.
As a result, the gambling industry has experienced unprecedented losses this year. However, numerous players who typically frequent local casinos have discovered that online casino markets offer an equally exceptional experience, all within the safety and convenience of their own residences.
With 23.4 million confirmed positive cases and nearly 400,000 total deaths, the United States has experienced some of the most severe impacts of the pandemic.
Despite the positive development of vaccine distribution, it is unfortunate that there are no prospects for a prompt return to normalcy.
Land-based casinos can anticipate maintaining their revenue levels from last year, while online casinos are projected to experience further growth in the US markets.
Market expansions are continuing.
In the US, the legality of online casinos varies from state to state. Presently, only Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia have legalized online casinos. However, it is anticipated that Michigan will soon join the list of states with online casinos.
Governors and state legislators from various states are reevaluating their stances after witnessing the prosperity of online casinos in NJ, PA, and DE.
During these times, it is evident that legalizing online gambling would provide much-needed revenue for Connecticut, as Governor Lamont has expressed his support for this cause. Similarly, State Representative Alan Morrison from Indiana has introduced a bill aiming to legalize iGaming, further acknowledging the potential financial benefits it could bring to the state.
With an increasing number of states joining the trend, the growth of online gambling in the US is projected to surge, resulting in even higher revenue. Analysts predict that 2021 will witness another exceptional year in terms of market performance.
