In the digital entertainment arena, online sports betting and online casino games are gaining traction faster than a sprinter out of the starting blocks. However, it’s not just a virtual gold rush — it’s a transformative shift in how people play and bet online.
Read on to discover the progress of these sectors, the paths to their legalization, the issues they’ve faced along the way and how BetMGM navigates these challenges to secure a safer online gaming environment.
Since the day Nevada first opened the doors to online sports betting back in 1999, 30 more states and the District of Columbia have jumped on board. But things took a bit longer to heat up in the online world of casino games. New Jersey was the trailblazer in 2013; since then, four more states have followed suit.
Hurdles on the Track: Legalization Challenges
While the progress has been exciting, it hasn’t been without hurdles. Legalizing sports betting online can feel like navigating a maze due to complex regulations, especially when activities span across state lines. For online casino games, the worry is different but no less significant. There’s a lingering cloud of potential addiction, with online gamblers reportedly more prone to develop a gambling addiction than traditional gamblers.
Betting Big: Market Size Matters
Take a look at these numbers. The global market size for sports betting online stands tall at a hefty $100 billion, with the US staking claim to a solid $30 billion chunk. Online casino games, on the other hand, are playing in a whole different league. With a global market size of around $600 billion and the US portion amounting to about $150 billion, it’s clear these games aren’t just playing for pennies.
The Race To Legalize: Sports Betting vs. Online Casino
The trajectory of legalization for sports betting is a tad steeper than for casino games online. This is because sports betting is a bit easier to regulate as it’s more localized, making it a bit of a favorite among legislators.
Navigating the Betting Landscape: BetMGM’s Impact
BetMGM is changing the online game in both sports betting and casino games. By enforcing tight security protocols, like geolocation services, it’s tackling cross-border regulatory issues head-on. And in the online casino world, it’s reducing the risk of gambling addiction through measures like betting limits, self-exclusion periods and educational resources. It’s clear that BetMGM is working to ensure a safer and more secure online gaming environment.
BetMGM Continues To Enhance Online Gaming Services
So, what’s the take-home? The online sports betting and casino games sectors are expanding quickly, despite the hurdles they’ve had to jump. Companies like BetMGM, with robust strategies and a focus on safety and security, are shaping the future of these industries.