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Industry insiders say online casinos are the future of U.S. gambling

Several industry insiders in the United States have said that online casino gambling is the future of the industry.

This week at the SBC North America Summit, a major gaming industry conference, there was acknowledgment of the difficulties in launching internet casinos so far, but executives believe this is the future of gaming.

Online sports betting is rapidly gaining popularity in the United States, covering 38 states as well as Washington, D.C., but casino betting has so far not been as successful.

Within the industry, some are concerned about the impact internet casino gambling will have on brick-and-mortar venues, while others are alarmed at the prospect of hurting gamblers by effectively putting casinos in their pockets. Can adequate measures be taken to promote responsible gambling in an online environment compared to the face-to-face environment provided by a casino complex?

While there are some obstacles, many are convinced that online casinos, especially smartphone betting, are the future.

Which US states have legal online casinos?

Only seven states in the United States currently allow legal online casino gaming: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia. In Nevada, players can participate in Internet poker, but not casino games.

That pales in comparison to the massive presence of online sports betting across the U.S., but the industry appears ready to rise to the challenge.

After the sports betting outbreak The U.S. Supreme Court issued a decree in 2018 allowing any state to offer legal sports betting. The bets “took off like a rocket,” said West Virginia congressman Shawn Fluharty, chairman of the National Council of Legislators on Gambling States.

“Many people think online gaming will follow suit,” he added. “That hasn’t happened yet.”

Brandt Iden, vice president of Fanatics Betting & Gaming, agrees. “It’s been a rough road,” he said. Online gaming is critical; it’s the direction the industry needs to take to succeed and the direction consumers want it to go. “

Speakers at the summit looked at sports betting, where many bets are placed on smartphones. They also want to recognize the dangers (and lost tax dollars) posed by illegal offshore sites, which attract gamblers from across the United States with no duty of care to their customers.

The industry can always do more to promote responsible gambling and ensure customer protection is in place, but unregulated sites cannot provide these services. We will engage with state legislators on these issues and lobby to increase support for internet casino gaming.

Cesar Fernandez, senior director at FanDuel, pointed to public funding. He said online casinos should be an attractive proposition for states, especially with federal aid reduced since the pandemic.

“FanDuel has paid $3.2 billion in taxes since 2018. That’s a lot of teachers’ salaries, a lot of police and firefighters’ salaries,” he said, arguing that the greater state returns from gambling ease residents’ The burden of paying more taxes.

However, some insist that the pursuit of online gambling will continue to harm land-based casinos, a trend that has accelerated.

“We’re setting ourselves up for failure,” Cordish Gaming president Rob Norton said.

Norton is a prominent voice for gambling venues, which, as he cited in Maryland, have been losing customers to the Internet.

He said the company’s Maryland live sports betting revenue will increase once online sports betting begins in the Old Line State! Casinos were down 65% “and have stayed at that level.”Norton further claims there has been a decline Since the launch of the online sports betting market, approximately 7,000 people have entered land-based casinos every day.

Image source: Ideographies

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