If you have never heard of iGaming before, you are not alone. However, this industry has been around in the gambling world for about 15 years and looks set to become even more popular in 2021 than it has ever been before.
Here is what you need to know about iGaming and how it is starting to change the face of gambling:
iGaming is a type of online gambling where users bet on the outcome of a game or live event on the internet. Currently, iGaming is most prevalent in sports wagering, such as betting on NFL games, followed by online casino and poker betting.
Indeed, it is becoming such a popular way to gamble that some casino and sportsbook operators are launching an iGaming app to enhance users’ experience by making it even more accessible.
A growing trend
The coronavirus pandemic forced many gamblers to move from their visits to brick-and-mortar casinos to online operators. While there was little sport to bet on initially, leagues have returned to normal, and online sports betting sees unprecedented surges with each passing significant sporting event.
Enhanced technology and a generation that prefers having access to everything they need at their fingertips on a smartphone mean that providing iGaming options to users is an essential component of a gaming setup for any online service provider.
Why not Nevada?
As the home of traditional casinos, one would assume that Nevada’s government would embrace the idea of online gambling and sports betting. However, the Silver State is not that eager to join other states that have done so. As it stands, poker is the only online gambling allowed in Nevada.
Experts warn that the state’s determination to keep its focus on Las Vegas and its land-based facilities while seemingly ignoring the rise of iGaming could cause long-term problems. If the state does not meet user demands, it runs a risk of gambling obsolescence, as players will elect to go to US states that offer what they want.
What about everywhere else?
Everyone living outside Nevada should not heave a sigh of relief, assuming that iGaming is permitted in their state of residence. Only six states have legalized iGaming so far. The original five consist of New Jersey, Pennsylvania, Delaware, West Virginia, and Nevada in its current limited capacity. Michigan is the latest addition, having launched its online gambling offerings in recent weeks.
More states plan to enact legislation that allows online gambling as it is a welcome tax revenue source. Many states’ coffers were bled dry by COVID-19, and each wants to maximize revenues to speed up economic recovery.