While most people believe that legal trustworthy online casinos became available to US residents in 2013, when New Jersey legalized interactive gaming through the passage of bill A2578, that is not so. Americans have always had the option of playing at legit online gambling sites that would accept them.
The internet betting sphere got birthed in 1994 when the Lichtenstein lottery started selling tickets over the World Wide Web. Two years later, anyone with a connection to it could access reputable online casinos from within the US. According to the American Gaming Association’s Commercial Gaming Revenue Tracker, in April this year, the US gambling sector hit its second-best month ever, notching almost $5 billion in revenues. That is a 12.4% annual growth despite growing macro-economical concerns. What is interesting about this number is that online casino gambling contributes $416 million, which represents a year-over-year increase of 38.8%.
Recently, Connecticut decided to join New Jersey, Pennsylvania, West Virginia, Delaware, and Michigan, becoming the sixth US state to allow gambling operators to offer gaming services to Connecticuters via the internet. That happened in October 2021, following a soft-launch period. Per the Connecticut State Department of Consumer Protection, the Nutmeg State pulled in $18.4 million in interactive gaming revenues for April 2021. For comparison sake, New Jersey’s Division of Gaming Enforcement reported that the total Internet Gaming Win in the Garden State, the top US market for legit online casinos, was $136 million. That is a 27% growth compared to March 2022.
Hence, it is clear that safe online casinos are a booming business in the US, both for American-based operators and those based abroad, whose revenues figure are private.
The Difference Between US & Offshore Legit Casinos
In line with a May 2022 study from Zion Market Research, the online gambling market had a global worth of $61 billion, on track to reach a yearly revenue pull of $114 billion in the next six years, swelling at a rate of close to 11% per year. A significant fact that many out of the gaming loop are not aware of is that these figures chiefly get generated by platforms/operators from countries like Curacao, Panama, Malta, and Costa Rica. Hence, many of the most trusted online casinos for USA players are not in the US. They get run by foreign countries from foreign lands. That does not make them any less safe than US-based operators since these countries have government-backed regulators that implement many of the same safety criteria as their US counterparts.
Many American online gamblers prefer using foreign platforms, considering them the best and safest online gambling sites. These hubs undoubtedly offer higher-end gaming products because providers do not have to pass the stringent technical specifications to feature their games here, ones required for the US market. Thus, they can partner with offshore operators and make their games available on their platforms without an issue. That makes it possible for US players to enjoy products from companies that do not offer any of the games at US-based sites. Moreover, crypto casinos, the latest industry fad sweeping the globe and one of the main reasons for the sector’s sky-rocketing revenues, all have Curacao licenses. Bitcoin and other cryptocurrencies do not get regulated by financial institutions in the US, and no American gaming regulator permits their use at their licensed platforms.
What US States May Introduce Online Casinos Next
As mentioned, only six states in the US allow companies to run online casino businesses on their soils. Again, these are Delaware, West Virginia, New Jersey, Michigan, Pennsylvania, and Connecticut. While the DOJ’s interpretation of the Interstate Wire Act of 1961 allows each US territory to decide for itself if they authorize this pastime for its residents, many are unwilling to approve it. It seems like the US is far more accepting of internet sports betting than online casino gaming, seeing as following the fall of PASPA, more than thirty states have allowed sports wagering, many online as well.
Indiana is a rare example of a territory trying to push through a pair of gaming bills, including HB 1337, that seeks to legalize playing games of chance over the Web for Hoosier State residents, and the taxation of this activity at 18%.
Maryland is another region likely to permit online casino gaming relatively soon, despite Little America’s constitution requiring a statewide referendum for any expansion of commercial gambling. That said, since that already happened with sports betting in Maryland in November 2020, many politicians do not see a problem with this occurrence repeating.
Despite rumors that Louisiana and Illinois may also be attempting to make headway on the online casino front, dramatic stance shifts in these two states on this issue are probably not happening for years to come.
This article was written in collaboration with online gambling analysts.