Since the repeal of PASPA in 2018, states across the US have taken the opportunity not just to introduce sports betting but also online gaming. The emerging American industry, known as iGaming, is proving to a reliable source of revenue for jurisdictions and a source of entertainment for residents.
California is well-known for its gambling options, boasting over 60 Native American casinos as well as over 80 of its famed cardrooms, which are licensed by the state. As such, it may not be too long before the Golden State starts to look at creating its own iGaming scene seriously. In the right environment, which needs to be governed appropriately, online options in the gambling-savvy state could thrive, with there being plenty of proof from around the world to prove as such.
The surprisingly competitive scene in Finland
It will probably come as a surprise to many, but Finland boasts one of the strongest iGaming scenes in the world. Perhaps not in terms of national revenue through gambling taxation, due to its 5.5 million population, but certainly in terms of competition-driven innovation. Online providers from all over the world enter the market to battle for players, creating inventive, player-friendly welcome offers.
For a long time, online casinos would offer either matched deposit bonuses or free spins after the first deposit, meaning that ‘free’ welcome offers came at the cost of some committed cash. As shown by games.netent.com/fi/casino-bonukset/no-deposit, Finland-facing sites now offer no-deposit bonuses. To enhance their appeal, these sites allow players to get completely free playing currency to try before they buy.
Thriving under the global leader in iGaming regulation
If there’s one governing body that can be pointed to as the leading example of a regulator in the online gaming industry, it’s the UK Gambling Commission. Setting and enforcing their strict rules, all operators must abide by the UKGC to enter the bustling UK market. Therein, the body’s focus is on player protection, which has allowed for a safe market that encourages the right kind of competition.
As a result, the UK has become one of the most coveted online gambling markets globally. As detailed in the gamblingcommission.gov.uk/statistics-and-research/publication, the transparency to any platform that abides by the rules and regulations has created a £5.7 billion ($7.7 billion) remote gambling market, per the April 2019 to March 2020 report.
Trailblazing in the United States of America
The spearhead of the move to repeal PASPA was New Jersey, so it shouldn’t come as a surprise that the Garden State leads the nation as an iGaming market. Sports betting was the focus, but the state has also opened and regulated its online casino gaming scene for a few years now, with its growing at a healthy rate year-on-year.
According to businesswire.com/news/United-States-Online-Gambling-Market-Report, the state already boasts over a dozen licensed online gaming sites, combining to make the market worth over $225 million per year already. It’s been a tremendous rise in a state that wasn’t necessarily tied to gambling, which has primarily been down to close regulation.
With its land-based casinos and card rooms presenting a real strength for California, it is possible that an iGaming industry could be established and grow into a thriving sector for the state.
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