US iGaming Market to Eclipse UK Counterpart: Vixio Report

Article by : Erik Gibbs Jul 17, 2024

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The US iGaming market is on a fast track to overtake the United Kingdom as the world’s leading market, according to a new report by Vixio GamblingCompliance, a leading research and consulting firm in the gaming industry. The report, titled “US iGaming: A Market on the Move,” highlights the rapid growth of the US market since its legalization in several states over the past few years.

The UK has long held the top spot in the global iGaming market, with a well-established regulatory framework and a mature consumer base. However, Vixio’s report suggests a significant shift is underway. The US market is experiencing explosive growth, fueled by the increasing legalization of online gambling across various states.

“The US iGaming market is witnessing a period of unprecedented expansion,” says Michael Livingston, lead analyst at Vixio GamblingCompliance and co-author of the report. “With each state legalization, the market grows exponentially, attracting major operators and capturing a wider audience.”

The report cites several factors contributing to the US market’s meteoric rise. Firstly, the large and tech-savvy US population presents a vast potential customer base.  Secondly, the growing acceptance of online gambling among US citizens is fostering a more favorable regulatory environment.  Thirdly, the increasing legalization of sports betting has paved the way for the expansion of online casinos and other forms of iGaming.

Vixio’s report predicts the US iGaming market to reach $13.4 billion by 2025, surpassing the UK’s projected market value of $8.2 billion in the same year. This significant growth is expected to be driven by the continued legalization of iGaming in more US states, along with rising consumer adoption and increased operator investment.

However, the report also acknowledges some challenges facing the US iGaming market.  The fragmented regulatory landscape across different states can create complexities for operators.  Additionally, some states continue to grapple with concerns surrounding problem gambling and potential negative social impacts.

“Despite the challenges, the US iGaming market holds immense potential,” says Sarah Jones, Vixio GamblingCompliance’s CEO and co-author of the report. “With responsible regulations and a focus on player protection, the US can become a global leader in the iGaming industry, setting a benchmark for others to follow.”

The Vixio report’s findings are likely to resonate with industry stakeholders, including investors, operators, and regulators. It will likely be used to provide support for the continued expansion of legalized iGaming in the US and an attempt to convince legislators to make a move.