What Are Key Factors Contributing to the Growth of the Betting Industry in the US?

The annual revenue generated from the legalized online sports betting industry in the United States is growing year-over-year and shows no signs of slowing down as individual states continue to take a more relaxed approach towards certain socially accepted gambling activities, such as sports betting. 

On this page, we will be taking a closer look at some of the key factors that contribute towards the continued expansion of the sports betting industry and discuss some of the main reasons why placing a sports bet online from a mobile device or desktop computer is more popular than ever. 

Modern technology helps fuel the growth of the online betting industry in the US

Online sports betting sites and other legally permitted iGaming sites, such as online casinos, bingo & lottery websites, and dedicated poker sites, are rapidly evolving, and today’s most trusted operators in the US continue to show impressive annual revenue growth. 

The latest technological innovations are a major driving force helping take the online betting industry to new heights, along with the willingness of iGaming operators to embrace the latest trends, change with the times, and adapt to the latest rules and regulations. 

In this ever-changing digital landscape, many groundbreaking new technologies are helping to completely revolutionize the industry, making it safer for everyone involved and personalizing the experience on an individual level. 

Some of the key technologies driving growth in the US online betting sector are the following:

• Enhanced cybersecurity measures
• A wider range of online payment options to choose from
• Faster and more secure deposits and withdrawals (and the acceptance of blockchain/cryptocurrency payments on some sites)
• Artificial intelligence and its many tools and applications 
• Software updates and better computer programming capabilities
• Faster/more efficient web browsers and HTML5 technology
• Improved device technology (better smartphones, tablets, laptops, and desktop computers)
• Cloud gaming/computing
• More responsive/intuitive/user-friendly websites
• 5G Wi-Fi/internet speeds

Why is sports betting so popular in New York and other US states with a relaxed approach towards online sportsbooks?

The online betting industry in the US, especially in states with a more mature legal framework and well-regulated landscape, is now hugely successful for various reasons, not just technological. A great example of this is the betting landscape in New York,  where online betting was legalised in 2022 and, already, nine prominent sportsbooks (and counting) are in operation. With so many trusted options for bettors – and more to come – New York represents a real haven for aficionados. 

When operators have the space and responsibility to actively promote responsible gambling, it helps foster a sense of trust in the industry. Today, fully registered members of the top iGaming sites can choose from a range of popular tools to help ensure they remain within their budgets, such as deposit limits (e.g., daily, weekly and monthly limits are typically available), win/loss limits and session time reminders, to name a few. 

People who register their free accounts on these sites also have access to friendly and professionally trained 24/7 player support who respond quickly and always demonstrate high customer service standards. 

How have online bettors benefited from the latest technological advancements?

iGaming websites with sports betting services and thousands of computer-generated and live dealer online casino games are safer than ever thanks to the 128-bit or higher SSL (Secure Socket Layer) used on these sites to protect each player’s account. 

Anyone who is legally permitted to sign up to sites like this and use the services available on their chosen iGaming sites can count on rapid payments and choose from a wide range of secure US online payment methods. 

Deposits are generally instant these days, and the lightning-fast withdrawal times are constantly improving and can take anywhere from as little as a few hours up to anywhere from 24 to 48 hours to be processed. 

Thanks to cloud computing/gaming, faster web browsers, incredible Wi-Fi/Internet speeds, better devices, and more responsive websites, placing bets online and playing online casino games is now an easier, smoother and more enjoyable experience. 

Which other factors are helping the US online betting industry grow? 

The odds available on these sites are also now more competitive than ever, and sports bettors can typically find hundreds or thousands of individual monthly betting markets for hundreds of major US and global sporting events such as the Super Bowl, NFL, NBA, NHL and MLS. 

The games available on today’s most trusted sites (ones that are legally permitted to operate in one or more US states) are supplied by several industry-award-winning software providers. These market-leading companies have developed the world’s most popular online slots, table & card games, and thousands of other real money gambling games. 

These games are more popular than ever because they often have high or above-average RTP% (return to player) payout rates, wide betting ranges catering to everyone from low rollers to high rollers, impressive 3D-rendered animations, fun in-play features, responsive player controls, and big jackpots. 

Final thoughts

The other reason why online sports betting has taken off in the US in recent years is the personalization of the experience, thanks to various AI-powered tools, such as machine learning, and the gathering and analyzing of big data. 

This technology non-intrusively monitors player’s accounts and detects patterns in how they interact with the website, services, products, and features. 

iGaming website operators today use AI systems to provide more relevant bonuses/promotional offers and much better game suggestions, tailoring the experience on an individual level like never before.