iGaming can mean different things to different people but in essence, iGaming involves playing or betting on the outcome of a game or event via the internet. Also known as online gaming, some of the more common activities include online casino gambling, online video gaming, sports betting, and poker betting.
Looking at some of the recent information surrounding iGaming, the growth has been incredible. By the end of 2016, it was estimated the iGaming industry was worth approximately US$41.78 billion and this is expected to rise to US$100 billion by 2024. This is according to research by the firm Transparency Market Research.
So, why is iGaming sweeping across the US and becoming so popular?
One of the main reasons has to be the ease of iGaming. For example, in the states that allow online casinos to operate, you no longer have to make a trip out of the house to play casino games at a land-based casino. Indeed, from the comfort of your own home you can even play a table game against other people, using a real dealer. This is just one of the many strides iGaming has made in recent years to replicate the feel of being inside a real casino. The introduction of virtual reality casinos has only added to this and now it is possible to wear a headset and walk around a casino from the living room sofa.
Unfortunately, this is not the case in every state and at the time of writing, there are no online casinos in Illinois. This is nothing to do with people not wanting to play online casino games in Illinois. In fact, there are sure to be millions of people residing in Illinois who would love to be able to play a game of blackjack or a spin of the roulette wheel in their own home. The issue comes with the Illinois state law. This prohibits any online casino from accepting wagers but there are ongoing talks to bring legal online casino gaming to The Prairie State.
State Rep. Bob Rita has introduced the Internet Gaming Act and if passed, this would permit table games, online slot machines, and online poker in Illinois.
Linked to the convenience factor of being able to play casino games from home, millions of people in the United States have seen land-based casinos forced to close recently due to circumstances out of their control. This is led to more people joining online casinos where they are legally allowed to do so and participating in iGaming activities.
Midway through 2020, Oregon became one of the first states to allow remote betting on virtual sports. This is something different to betting on live NFL games for example and involves gambling on the outcome of a virtual sporting event, powered much the same way as an online casino game. Virtual sports use a random number generator to create odds and determine a winner and it is possible to bet on virtual sports including football, horse racing, soccer, basketball, and motor racing.
The iGaming industry continues to innovate and bring new technology and products to the forefront of online gambling. The future of the iGaming industry looks good and we are likely to see more states making online sports betting and casino games legal soon.
