The Role of Social Casino Games in North AmericaA detailed market evaluation indicates that by 2027, the global landscape for social casino games is set to achieve a historic peak at $9.25 billion. The key catalyst for this anticipated surge is said to be North America's ever-expanding legal and cultural influence in the gaming arena.
By 2027, Casino Gaming's Worth Expected to Climb to $9.25 Billion
On a global stage, the casino gaming sector showcases options both online and in-person. It includes all the classic experiences you've come to expect, like slots, bingo, and poker. casino games It's forecasted that the industry will soar to an impressive $9.25 billion by 2027, a jump from an estimated $7.26 billion just a few years prior in 2023. This translates to a compound annual growth rate (CAGR) increase of 6.24% over the coming years. The study suggests that several factors will spur this market's expansion in the foreseeable future, including the swift and persistent growth of the U.S. gaming industry.
US Gambling Surge Impacts Future Projections
As legal frameworks for casino gambling continue to evolve across the United States, North America is set to maintain an accelerated growth pace in the upcoming years. This liberalization has driven gaming companies into a frenzy of customer acquisition, fueling heightened marketing and advertising budgets. With casino gaming becoming deeply embedded in American culture, attention is shifting towards other gambling forms like sports betting and online casinos. New findings from Eilers & Krejcik Gaming show that Americans spent an astounding $157 billion on gaming in 2022, with a whopping 63% of that figure funneling into casino gambling.
Judging by the UK's timeline, the United States might experience 5-8 more golden years before gambling growth levels off.
Cutting-Edge Tech Advances the Gaming Sector’s Growth
The research report from ResearchAndMarkets.com outlines other contributors to the gaming industry's momentum in regions like North America and beyond. The sector has ballooned with the advent of groundbreaking technologies such as 5G networking, along with the burgeoning popularity of cloud gaming and virtual reality experiences. The COVID-19 pandemic also played a role by propelling more people towards online gambling as a way to fend off isolation and monotony.
Today's gaming has become more accessible than ever, thanks to the boom in popularity of casino games and the widespread adoption of tablets, smartphones, and other mobile devices. Younger audiences rapidly embracing new technologies are accelerating the consumer expansion within the gambling sector. As numerous brands transition to real-money casinos, jurisdictions are incrementally tightening regulations, which could temporarily hinder market growth. Nevertheless, in the long term, legally sanctioned casino gambling is cemented firmly in the global arena.
Here are some trends anticipated to fuel the growth of the North American online casino market in the upcoming years: free promotions The surging appeal of social casino gaming.
Growing legalization of online gambling activities.
- The increasing popularity of mobile gambling .
- The creation of groundbreaking and innovative online casino games.
- The North American online casino market is thriving dynamo with immense growth potential. As the arena continues to mature, one can expect a windfall of fresh innovations and heightened competition in the coming years.
- With two decades of iGaming expertise, Ann, a Norwegian/Canadian specialist based in Malta, crafts compelling narratives for reputable digital platforms, focusing intensely on casino and betting products.
She is dedicated to delivering trustworthy, current insights amid the ever-evolving scene of online gaming.
Last Updated: August 21, 2023
