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U.S. Online Poker (Gambling) Market Share Forecasted to Reach USD 183.30 Billion by 2034, at 14.9% CAGR: Prophecy Market Insights
“U.S. Online Poker Market” from 2024-2034 with covered segments By Type (Texas Hold’em, Omaha, Seven-Card Stud, and Other Games), By Platform (PC, Tablet, Smartphone, Gaming Console, and Arcade Games), By Application (Gambling and Entertainment), By End-User (Gambling Enthusiasts, Dabblers, and Social Exuberant Players) Forecast, (2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience. |
Covina, Aug. 05, 2024 (GLOBE NEWSWIRE) — According to Prophecy Market Insights, the U.S. online poker market size and share is projected to grow from USD 54.03 Billion in 2024 and is forecasted to reach USD 183.30 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 14.9% during the forecast period (2024 – 2034).
U.S. Online Poker Market Report Overview In the game of online poker, a player gets to play against other opponents across the globe. This game requires one not only to choose among the several varieties of poker available, like Texas Hold’em, Omaha, and Seven-Card Stud, but also to log in to some websites that deal with online poker. Bets are made according to the strength of the hand with virtual chips. At the end of every round, the best hand collects the pot. Apart from anonymity, speed, convenience, and the number of tables, a player can play from anywhere with an internet connection, and many platforms allow a person to play at many different tables. The legal landscape of the U.S. online poker market has changed dramatically over the years. Big poker operators such as PokerStars and Full Tilt Poker used to be bigger players until legal complications and regulatory changes came hard on the industry after the events of Black Friday in 2011. The United States adopted state-by-state online gambling regulation, where certain states passed bills to legalize online poker and others were vehemently opposed. Today’s market is fragmented because only a few states allow regulated online poker. Other significant challenges include variations of the legislation among states, market fragmentation, pressure from new entrants and social gaming products, and fewer players. Still, potential growth might come out of the prospective legalization that is being considered by other states.
Our Free Sample Report includes:
Competitive Landscape: The U.S. online Poker Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive. Some of the Key Market Players:
Analyst View: In the U.S. market, operators like PokerStars and Full Tilt Poker used to be small entities, but since Black Friday in 2011, a fragmentation process began, with legislation very different from one country to another, added pressure from new entrants, and social gaming products pressing on the industry. Improved technology has increased the reach of online poker to younger demographics, especially those who love mobile gadgets with user-friendly applications and responsive websites. Demographic changes at a rapid pace, like urbanization and lifestyle changes, have also significantly shifted people’s interest in these online gambling activities. Trends affecting the U.S. online poker market include changing laws and regulations that have enabled operators to invest, innovate, and develop their businesses around uniformity and clarity. The promulgation of specific licensing rules, consumer protection, and dispute resolution procedures has resulted in a more respectable and trustworthy sector for players regarding the integrity and fairness of the games. Market Dynamics: Drivers: Involvement of Technology
Demographical changes
Market Trends: Changes in Law and Regulation
Segmentation: U.S. online Poker Market is segmented based on Type, Application, and Region. Type Insights
Application Insights
Recent Development:
Regional Insights
The North American online poker market is complex and dynamic; the United States itself is a nascent yet potential jackpot in its entirety. It is characterized by state-by-state regulation against the patchy backdrop of laws and the 2011 “Black Friday” crackdown. Barring all odds, online poker has been legalized by a few states, and it is slowly gaining its lost glory. Some of the important states representing the market are New Jersey, Nevada, Delaware, Michigan, and Pennsylvania. Such challenges include regulatory uncertainty, market fragmentation, and black markets. Another challenge to the operators and players is the inconsistent regulatory environment from state to state. A contributing factor to this market fragmentation is the lack of interstate poker agreements that hold back player pools, killing competition in its tracks. Illegal online poker sites remain in operation, tainting the legal marketplace. Browse Detail Report on “U.S. Online Poker Market Size, Share, By Type (Texas Hold’em, Omaha, Seven-Card Stud, and Other Games), By Platform (PC, Tablet, Smartphone, Gaming Console, and Arcade Games), By Application (Gambling and Entertainment), By End-User (Gambling Enthusiasts, Dabblers, and Social Exuberant Players) – Trends, Analysis, and Forecast till 2034” with complete TOC @ prophecymarketinsights.com/market_insight/u-s-online-poker-market-5338
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Latest News
21VIRAL Speeds Up Game Integration Time for Operators
21VIRAL, the game aggregation provider focusing on Latin America today, confirmed it is committed to raising the industry standards by introducing next-generation AI technology via its GameConnector platform. This AI technology is designed to ‘speed up’ integration between operators and game content studios, reducing the time from months to weeks.
21VIRAL was founded by industry entrepreneurs with 20+ years of successful experience building and streamlining high-tech supply chain platform technology solutions and enhancing commercial benefits to stakeholders.
Christoph Härtel, CEO of 21VIRAL, emphasized the company’s customer-first approach. He stated, “Our goal is to build a product and solution experience that truly meets the needs of our customers. This is why we decided to specialize in the Latin American market, given its current and expected growth rates.”
“We looked at market-product fit and listened to operators seeking unique game content for their local market in weeks rather than months. So, we launched GameConnector, which will be debuted at the SBC Summit in Lisbon.
The 21VIRAL GameConnector is the equivalent of an engineering hub. It reduces integration headaches for operators and game providers, increases speed to market by using AI, and includes transparent game pricing and commission reporting, which is also a headache for operators in terms of figuring out which games make them money.
We have onboarded several industry-established operators and game providers in record time using AI to facilitate faster and more streamlined workflows. However, one of the limiting factors of scale-up businesses, especially if you are an operator or game provider, is the technical integration expertise and market access within the supply chain.
Part of the solution to these problems is commercial pricing transparency and integration support, so we have created more accessibility for onboarding operators and game providers. GameConnector will be the enabler for all the technical integration, heavy lifting, and onboarding. We will also offer reverse integration, a process where we integrate our GameConnector Platform into their systems, thereby reducing their work effort. Therefore, the operators have little to zero work effort – it’s a win-win for all parties involved.”
Latest News
CT Interactive Expands its Global Footprint with Novibet
CT Interactive, a global provider of online gaming solutions, has announced the launch of its games on Novibet’s platforms for Mexico (www.novibet.mx) . This partnership underscores CT Interactive’s commitment to expanding its reach and delivering high-quality gaming experiences to players worldwide.
Striving to offer exciting content to its users, Novibet.mx will now feature a selection of CT Interactive’s newest and most innovative games. Players in Mexico can now enjoy Star Girl, a captivating game that combines stellar graphics with thrilling gameplay; The Big Chilli, a spicy title that promises exciting features; Dr. Winstein Buy Bonus, a unique game where players can take control of their gaming experience with the Buy Bonus feature; Clover Queen, a game that brings the luck of the Irish to the reels, offering big wins and enchanting visuals. These slot games are designed to offer a diverse range of gaming experiences, ensuring there’s something for every player’s taste. This launch marks a significant step in CT Interactive’s strategy to bring fresh and engaging content to the rapidly growing Mexican online gaming market.
Simultaneously, CT Interactive has announced the release of its comprehensive portfolio of 61 games on Novibet.com, catering to markets regulated by the Malta Gaming Authority. This extensive collection includes some of CT Interactive’s most popular and enduring titles, such as Lucky Clover, a fan-favorite known for its classic design and rewarding gameplay; Win Storm, an action-packed game with dynamic features and high win potential; HOT 7’s X 2, an exciting slot game that offers double the excitement and twice the winning opportunities. The integration of these games is set to enhance Novibet’s offering, providing players with a wide variety of high-quality slots that deliver both entertainment and the potential for significant rewards.
This partnership between CT Interactive and Novibet is a testament to both companies’ dedication to delivering top-tier gaming experiences.
Monika Zlateva, CCO of CT Interactive, said: “We are thrilled to partner with Novibet to bring our latest games to more players. This collaboration aligns with our goal of reaching new audiences and providing them with the high-quality gaming experiences that CT Interactive is known for. We look forward to a successful partnership with Novibet as we continue to grow and innovate in the online gaming industry.”
Foteini Matthaiou, Casino Product & CRM Director, said: “At Novibet, our mission is to bring players a gaming experience that is not only entertaining but also distinctive and dynamic. Partnering with CT Interactive allows us to introduce a range of innovative titles that resonate with players seeking something fresh and engaging. We are happy to bring these captivating games to our platforms in Mexico and across Malta Gaming Authority regulated markets, ensuring our users enjoy both thrilling gameplay and the highest standards of quality. This collaboration reflects our ongoing dedication to pushing the boundaries of what online gaming can offer.”
Compliance Updates
Public Health Advocacy Institute (PHAI) and Congressional Leaders Unveil the SAFE Bet Act to Address Sports Betting Risks
Public Health Advocacy Institute (PHAI) at the Northeastern University School of Law has supported Congressman Paul D. Tonko (NY-20) and Senator Richard Blumenthal (D-CT) last week in introducing the SAFE Bet Act, which addresses the risks associated with legalized gambling.
The SAFE Bet Act is the first federal legislative initiative to address the vast public health implications of mobile sports betting since sports betting was legalized in 2018. When the SAFE Bet Act is enacted, federal standards will be set to create a safer and less addictive betting environment. While still allowing the freedom for those who wish to participate, these standards will include addressing advertising, affordability, and artificial intelligence issues.
PHAI’s President and Northeastern University Distinguished Professor of Law, Richard Daynard, said: “PHAI’s mission is to serve the greater good by seeking big ideas to advance public health and justice. That is why we’re fully dedicated to playing a leading role in work to bring about a comprehensive public health response to the looming crisis presented by the out-of-control gambling industry.”
“The gambling industry is following a playbook developed by the tobacco industry and this is a direct threat to public health. At PHAI, we will work tirelessly to address this threat and protect public health. Supporting the SAFE Bet Act is part of this effort,” Daynard added.
PHAI Executive Director Mark Gottlieb said: “It is my desire to play an important role in national and international efforts to develop and implement a public health approach to regulating the gambling industry and online gambling. At PHAI, we utilize a wide range of resources—including litigation and advocacy—to protect public health. It has become apparent that the gambling industry and its partners act with conscious and reckless disregard for public safety. Collaborating with Congressman Tonko and Senator Blumenthal to create the SAFE Bet Act is one part of how PHAI will bring a public health response to the gambling industry.”
“As the Director of Gambling Policy with the Public Health Advocacy Institute it is my role to develop comprehensive public health strategies and advocacy efforts to address the looming crisis being caused by the unprecedented expansion of the gambling industry and online gambling. The ‘responsible gaming’ model of industry self-regulation is unethical and an abject failure. At PHAI, we will help lead a growing movement to expose the failures of the gambling industry’s responsible gaming model. In doing so, we will develop and help implement a series of comprehensive public health reforms designed to regulate the gambling industry, prevent harm, and protect individuals and families. It is a privilege to support Congressman Tonko and Senator Blumenthal as we work to advance the SAFE Bet Act,” said Dr. Harry Levant, PHAI Director of Gambling Policy.
“Since their inception, sports and sporting events have been a chance for family, friends, and strangers to gather together in celebration of beloved teams and athletes in a great American pastime. But now, every single moment of every sporting event across the globe has become a betting opportunity. That resulted in a frightening rise in gambling disorder, which has in turn enacted a horrific toll on individuals, many of whom have lost their home, job, marriage, and their lives. We have a duty to protect people and their families from suffering the tremendous harm related to gambling addiction. Our SAFE Bet Act gets the job done and gives sports back to the American people,” Congressman Tonko said.
At the press conference, Senator Blumenthal said: “Right now, states have legalized gambling, but they failed to protect citizens against those excesses, abuses, and exploitations. State regulation is faint-hearted and half-baked. That’s why we need a national standard–not to ban gambling–but simply to take back control over an industry that is out of bounds.”
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