By
Jane Shaw
Senior Editor Updated: 11/01/2023
We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.
Major Shift in Online Casino Legalization
According to an industry expert, the landscape of online gambling in the United States is set for a significant transformation.
The prediction comes from Howard Glaser, who is an experienced industry professional and Global Head of Government Affairs and Legislative Counsel at Light & Wonder. Speaking at the Global Gaming Expo (G2E) in Las Vegas recently, Glaser expressed his optimism about the future of online casino legalization in the country.
Currently, the United States boasts 44 states with commercial or tribal casinos, but only seven of these states have legalized and authorized online casinos. Despite the slow progress in recent years, Glaser predicts that more than half of the states with land-based gaming will have adopted iGaming by 2030, which equates to at least 16 more states joining the online casino bandwagon.
Glaser also expressed his optimism regarding the financial prospects of online gaming. Based on July’s gross gaming revenue figures, he highlighted the competitive performance of online casinos, which came close to matching the $497 million total generated from sports betting in 36 states, with an impressive $481 million generated in just six states. He said:
If you were to assume that all of the states today that have land-based legal casino gaming were to adopt internet gaming, how big is that market? It’s about $30 billion.
According to Glaser, the dwindling federal government payments to states post-COVID will result in a search for alternative revenue streams. He said that many saw online casinos as a viable solution to help bring in extra money. Glaser said that iGaming could help legislators to ‘plug a budget hole’ when needed.
Glaser didn’t make predictions for 2024, but he said that he believed a major state would legalize online casinos in 2025, setting the stage for a wave of legalization across the country. New York, Indiana, Iowa, Maryland, and possibly Louisiana have been identified as potential candidates to initiate this trend.
At the same time, industry leaders Amy Howe, CEO of FanDuel, and Jason Robins, CEO of DraftKings, have spoken about the need for increased awareness about the risks of iGaming.
Both executives agreed that, like sports betting, a large illegal market exists for online casinos. This means the need for increased education and stepping up efforts to bring the issue to the forefront of legislative discussions.
In her remarks, Howe pointed out that only 13 percent of the US population currently has legal access to iGaming, which she said was driving many people to seek illegal alternatives. She said that the future of the industry hinged on acknowledgment and action, adding that it was happening whether or not people wanted to accept it.
As the industry tries to navigate the various regulatory challenges and public perception, Glaser’s predictions suggest that the nation could be at a vital crossroads when it comes to the gambling industry. The next seven years could see a vital shift that results in access to iGaming rocketing.
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