In an era marked by a convergence of technology and entertainment, the gambling industry is undergoing a digital transformation, with more U.S. states considering legalizing online casino games.
Industry experts predict iGame will expand to New York, Maryland and California Panelists at the Next.io forum on internet gambling and sports betting anticipated that New York, Maryland, and potentially California could soon join the ranks of states offering internet gambling.
Despite the challenges, including legislative hurdles and concerns about their impact on traditional offline casinos, there is no denying the appeal of leveraging a lucrative market.
Spectrum Gaming Capital CEO Rob Heller noted that while certain dreams in the industry are yet to come true, they also offer opportunities for expansion, AP reported.
West Virginia representative Sean Fluharty highlighted New York and Maryland as potential candidates to accept internet gambling in the near future.
Brandt Iden, vice president of government affairs at Fanatics Betting and Gaming, reiterated that sentiment, recognizing the complexity of passing online casino legislation and the need for lawmakers to better understand the industry. 카지노사이트 모음
Lawmakers Discuss The Impact Of Online Gambling On Traditional Casinos Amid Changing Industries The debate over the potential cannibalization of physical casino revenues continues among legislators. However, industry executives argue that online gambling can complement traditional gambling facilities. Fluharty noted that casino openings increased after Pennsylvania introduced internet casino gambling.
Maryland's forward-thinking move to legalize internet gambling comes with considerations of tax revenue and job creation. New York lawmakers, meanwhile, have advocated for internet gambling, though it is not included in Gov. Kathy Hochul's budget.
At the same time, a recent study conducted by Eilers & Krejcik Gaming (EKG) and commissioned by iDEA Growth found that the introduction of online gaming in six regulated U.S. states increases traditional casino revenue by 2.44% on average on a quarterly basis.
Edward King, co-founder partner of Acies Investments, expressed confidence that California ended up embracing online gambling because of its sheer market size.
However, BetMGM CEO Adam Greenblatt offered a different view, citing the state's historical resistance, suggesting that the state may not approve online gambling anytime soon.
Similarly, Texas, another potentially lucrative market, has not wavered on online gambling for the past two decades. But with Rhode Island recently joining the ranks of states offering internet gambling, the expansion seems unstoppable, with more states expected to follow.