North America as an example of a legal and prosperous market for iGambling

North America is now home to a legal and prosperous market for iGambling – a development which is largely thanks to the transformative impact of changes to regulation, and a growing societal interest in online gaming and sports betting. In fact, North America’s online gambling market is expected to have over 140 million users by 2029, demonstrating the continued prosperity of this iGambling scene. So – how did this particular market establish itself, and what further developments can we expect to see in the years to come? We’ve taken a closer look at this world-leading iGambling industry to learn more about what exactly has made it so successful.

What does the regulatory landscape look like in North America?

The development of the iGaming market in North America has not been a straightforward journey. In fact, gambling legislation on the continent has seen numerous changes and challenges over the years, with many gray areas when it comes to the operation of online casinos and sports betting sites. However, thanks to changes to regulation – and with so much of modern life now taking place via the internet – it’s not surprising to see how hugely successful the world of online gaming has become in recent years. 

In Canada, the regulation of online gambling is mainly managed at a regional level. This means that different provinces have their own separate legislation on the subject – for example, online gambling is now legal in Ontario, where the iGambling market has been flourishing ever since it was first established back in April 2022. There are now so many different casino sites to choose from in the region, meaning it’s vital to do your research about all the different options such as checking out an exhaustive Bally Bet Ontario casino review before you start playing. The province's solid regulatory framework has fostered a responsible and fair gaming environment, which has helped to boost consumer confidence and safety – this progressive approach has positioned Ontario as a leading example of how effective regulation can generate prosperity in the iGaming sector.

In the United States, the online gaming and betting industry has seen rapid growth ever since the 2018 Supreme Court ruling which gave permission to each individual state to decide whether to legalize sports betting. This was a historic decision which paved the way for increased online gambling activity in the US, and sparked a wave of activity, as various different states seized this newfound opportunity to legalize and regulate online gambling on their own soil. New Jersey was the first state to quickly establish itself as a hub for legal sports betting, and other states soon followed suit, recognizing the potential economic benefits and the growing demand for legalized betting sites. As a result, over 30 states have now legalized sports betting in some form – this means that legislation varies across different US states, creating a varied legislative landscape in the country. 

The impact of a flourishing industry

The legalization of sports betting in various parts of North America has not only created a vibrant market – it has also spurred substantial economic growth. Many states and regions have reaped the benefits of the revenue generated by sports betting operations, and the industry has also attracted significant investments from both domestic companies and giant international players which are looking to tap into the lucrative North American market. Thanks to changing attitudes towards gambling and online gaming, there are now plenty of opportunities for iGambling operators to become established in these upcoming, highly lucrative markets in both the United States and Canada.

The notable success of North America’s iGaming market has also driven innovation and development in gaming technology. Thanks to the convenience and excitement of online gaming, the scene has attracted a diverse demographic – ranging from more casual players to seasoned, professional gamblers. This continuously expanding customer base has encouraged operators to innovate and offer a variety of gaming options, which has enhanced and diversified the market as a whole. The online casino landscape has since continued to expand and thrive, and in some ways has become even more widespread and prosperous than longstanding brick-and-mortar casinos.

What’s next for iGambling in North America?

Right now, the future is looking bright for iGambling in North America. The sector is growing in popularity amongst Gen Z players – and thanks to a huge variety of technological innovations including the creation of exciting new VR (virtual reality) technology, and increasingly streamlined payment methods, it feels like the sky is the limit when it comes to advancements in online gaming. These new technologies are sure to revolutionize the industry even further by enabling higher levels of enjoyment for gamers, and increasing the effectiveness of online security measures.

It will also be interesting to see how the regulatory landscape evolves in the decades to come. Several US states are currently exploring and planning the legalization of various forms of online betting and gambling, thanks to being inspired by the success of the current market in other states. Similarly, in Canada, it is increasingly likely that different regions will soon follow in Ontario’s footsteps and open up a legal, regulated iGaming scene.

Ultimately, it is clear that online gambling in North America now constitutes a strong example of a legal, prosperous iGambling market. Thanks to considered regulation and innovation from the gaming industry, an impressively well-managed and economically beneficial gaming sphere has developed in various parts of this highly influential continent. And whilst Canada and the United States have approached this market in different ways, both nations have set a solid benchmark which continues to inspire other countries around the world as they consider their own approach to the regulation. It will be fascinating to see what further developments take place as the North American iGambling industry continues to evolve over the coming years. One thing is for sure – this flourishing landscape will continue to make major contributions to the global online gambling scene, setting a strong example which other nations around the world will surely hope to follow.