Tech-Savvy Millennials and High-Spending Baby Boomers Propel Growth in US Online Gambling Market


Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "US Online Gambling Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The US online gambling market is poised for significant growth, with a projected market value of $22.31 billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 11.7% from 2022 to 2028.

This dynamic expansion is attributed to various factors, including rising per capita income, increased adoption of smartphones, the tech-savviness of millennials, and a growing number of dual-income households. Major players are strategically entering the US online gambling market through agreements, acquisitions, and collaborations to tap into the growing demand for digital gambling.

Market Highlights:

  1. High Spending Power: Baby boomers and Generation X, known for their high spending power, are driving the US gambling market. Their inclination toward technology and increased urbanization are key contributors to market growth.
  2. Millennial Influence: Millennials, often referred to as the digital generation, are tech-savvy and smartphone-dependent. Their preferences and behaviors are set to propel the online gambling market in the region.
  3. Casino Industry Growth: In 2022, the US casino industry experienced growth, with increased consumer spending across the nation. Intense competition among casinos in different states to attract gamers has contributed to this growth.
  4. Thought Leadership Strategy: The region is expected to adopt a thought leadership strategy, with players establishing gambling facilities while maintaining offshore operations for profit enhancement and expanding their customer base.
  5. Macroeconomic Factors: The performance of the gambling industry is closely linked to macroeconomic factors such as job growth and consumer confidence. While the growth has been uneven nationwide, several states with commercial casinos have witnessed increased gross gaming revenues.

List of Key Vendors:

  • Caesars Entertainment
  • Las Vegas Sands
  • MGM Resorts International
  • Wynn Resorts
  • PENN Entertainment
  • Entain
  • Flutter Entertainment
  • Kindred
  • 888 Holdings
  • BET365

Other Prominent Vendors:

  • Betway
  • Genting Berhad
  • Betsson
  • Sportech
  • Tipico
  • Light & Wonder
  • IGT
  • DraftKings
  • Boyd Gaming
  • Evolution

Market Segmentation:

  • Product (Revenue):
    • Casino
    • Lottery
    • Betting
    • Poker
    • Others
  • Platform (Revenue):
    • Desktop-Based
    • Mobile
    • Others

Market Structure:

The report provides insights into market dynamics, the competitive landscape, key vendors, and other prominent players in the US online gambling market.

Key Attributes:

Report AttributeDetails
No. of Pages57
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$11.51 Billion
Forecasted Market Value (USD) by 2028$22.31 Billion
Compound Annual Growth Rate11.6%
Regions CoveredUnited States

For more information about this report visit https://www.researchandmarkets.com/r/oy6bq7

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