Published on by Ben
The online gambling industry experienced considerable growth during 2020, with some key players reporting record revenue and profit. Among the established ...
Published on by Adam
Every day, thousands of Americans gamble online from the comfort and warmth of their home. But because online gambling isn’t fully regulated in the US yet, most gambling takes place from online casinos overseas. Read on to learn more.
Online gambling in the US is a fairly new concept that over the years has grown and developed in different areas of the country. These developments have taken place in various states since there is no uniform law for the entire country. Instead each state is responsible to reinstate its own gambling laws within its boundaries.
There have not been any new states to join the small league of US online casinos since the legislation changed. There have been talks of a number of states joining the US casino industry but these failed to materialize. States include California, Michigan, Massachusetts, New York and Pennsylvania. Things might soon change though, once the new bill passes and stakeholders reach agreements.
There was a lot of buzz around online poker site PokerStars last year with many claiming that this poker site was returning to the US operating under a new license. PokerStars is now operating within the state of New Jersey and aims to grow and develop as much as possible.
On the other hand, the same cannot be said about Amaya Gaming. With the found David Baazov having criminal charges filed against him, he went on to resign from his post.
DraftKings and FanDuel were also slammed with class action lawsuits the year. Because of this and new industry laws, the companies took a major hit and lost a good share of their revenue. To stay open, the companies went on to merge in November. Whether the merger will be permitted under new laws is yet to be seen.
The US is still undergoing changes in this sector and is currently facing major roadblocks as well as legal issues. We have to wait and see what the effect President Elect Donald Trump will have on the industry once he takes office.