Casino Market in US predicted to reach $93 Billion in Revenues by 2020
Latest United States market research report presented by Technavio predicts that casino market in that county will reach at least $93 billion by 2020.
Moderate growth rate over the four-year period is predicted and explained by the expansion of online gambling, immense contribution to national economy and advanced transportation infrastructure in the States.
Online gambling was not legal in the US until 2013 when the states of Nevada, New Jersey and Delaware first legalized opening up a huge market in the country.
Online casinos in US and their huge growth indicate a trend that is set to make the online industry the future of the casino market in the US.
“Virtual online casinos provide more protection to user transactions than real casinos offer because they offer access after multiple verification procedures”, said Faizan Akthar, Technavio’s lead market research analyst for media and entertainment.
Online gaming grew by almost 212% in terms of revenue in 2015 and the possibility of its exponential growth in expected to encourage many other countries in the US to consider legalization in the next four-year period.
According to Faizan Akthar casinos in the United States have also started adopting alternate methods to increase their customer base and look beyond the country for expansion.
He claims that casinos have started collaborating with luxury hotels to offer entertainment and gaming options to reach their potential customers, which all influences the positive predictions for the US casino market and its future.