North America Online Gambling Market Size 2020 Industry Overview, COVID-19 Impact Analysis, Trends, Growth and Leading Players

The North America online gambling market size is reported to witness robust growth during the forecast period of 2020-2026. The regional industry will be worth a whopping $20 billion by 2026, according to market experts. The region is experiencing substantial growth in the use of internet-based devices like smartphones and tablets, resulting in tremendous increase in virtual traffic for online gambling. The percentage of population in the U.S. using smartphones has increased by many fold and this figure is expected to only increase in the future.

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Smartphones have undergone tremendous technological advancements in the past few years, resulting in the incorporation of online sports leagues, giving the fans a platform to participate in legal betting. Technologies like AI and machine learning are being integrated into an end-user’s smartphone to give them the best gambling experience. For example, one of the most renowned smartphone makers, Apple Inc. launched the iPhone 5 with advanced features like 4G network connectivity, 4-inch retina display screen and greater compatibility with sports betting sites. All these factors will encourage online gambling market growth trends.

There are many technological innovations that are revolutionizing online gambling sites. AI, machine learning and chatbots are being used by these sites to understand a consumer’s behavior and playing habits to provide more customized suggestions. These technologies are even used for identity verification and documentation procedures to speed up the account opening process. All these features lead to enhanced customer satisfaction which will positively impact online gambling market in North America.

Advanced technologies like AI are extensively being used to carry out activities like query-solving and providing instant suggestions and information on a range of topics. Online betting games are on the rise in North America. However, it is quite important to have proper legal framework in place to ensure that these activities are carried out in a responsible manner. This is why states like Delaware, Nevada, Pennsylvania and New Jersey have introduced legal plans to encourage responsible betting, resulting in higher revenue generation for the country.

Legal sports betting will experience substantial growth up to 2026 because this segment has the potential to create several growth opportunities for both local and regional government administrations in North America. This form of betting can help create employment opportunities and can even create tax revenues which can help support small local businesses in the region.

The COVID-19 pandemic has played an important role in online gambling market in North America. This is because while the temporary shutdown of casinos was a major loss for everyone involved in the business, it was a boon for founders of online gambling. The lockdown forced people to spend more time on their smartphones, resulting in increased online traffic towards gambling sites. Online gambling sites have benefited immensely from the lockdown as it has gained maximum virtual traffic for gambling.

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Some of the companies that are leading online gambling market in North America in terms of market share and revenue are Betsson AB, DraftKings Inc., Berfred, BetAmerica, International Games Technology, MyBookie, Kindred Group PLC and many others.

Table of Contents (ToC) of the report:

Chapter 3.  North America Online Gambling Market Trends

3.1. Industry coverage

3.2. Industry size, 2016 – 2026

3.3. Impact of COVID-19 pandemic

3.4. Value chain analysis

3.4.1.   Company product snapshot

3.5. Innovation landscape

3.6. Regulatory norms & directives

3.7. Drivers & restraints

3.7.1.   Market drivers

3.7.2.   Market restraints

3.8. Industry analysis - Porter's

3.9. Competitive benchmarking, 2019

3.9.1.   Strategy dashboard

3.10.     PEST analysis

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