Current status of the US casino and gambling industry

The sports gambling and online casino industry is one that is never far from the headlines. When Pennsylvania announced a major expansion of its gambling laws last month it was just the latest development in a gradual evolution that has crept across the United States and indeed the globe over recent years.

The US gambling industry is a major revenue generator, bringing in an estimated $137 billion every year. This reflects around 30 percent of the $450 billion that the global industry is worth.

A global online gambling industry

While the US has always had its own unique attitude to gambling, and one that has varied between extremes from one state to the next, it can no longer ignore wider industry trends. Online casinos are big business, and have developed at such a rate that US legislation has been unable to keep pace. There are literally thousands of sites around the world – the database at https://www.thecasinodb.com gives a flavor of what is available – and most are not too fussy about where their members are coming from.

In other words, while state law can legislate against online casinos in its own jurisdiction, it can do very little to stop keen gamblers from simply spending their money out of state, or indeed outside The States.

New rules for responsible gambling

Lawmakers and economists at federal and state level may be many things, but they are not stupid. Gambling is a popular pastime, and one on which a growing number of people are willing to spend money. A clear acknowledgement of the way the wind is blowing can be seen in the new Code of Conduct entitled Rules for Responsible Gaming.

The industry regulations places consumer protection and social responsibility at their heart. This is a major change and a whole new type of perspective in a nation where the attitude has always been that gambling is either the most wonderful pastime ever or something that is completely prohibited.

The guidelines call on casinos to transparently educate gamblers on the odds of winning or losing for the wide variety of games that can be played in both online and land based casinos. They also discourage advertising that exaggerates the possibility of financial success and provide guidelines on procedures to combat underage gambling and similar important issues.

Sports betting on the rise

If the online casino market is large, the online sports betting sector is immense. As European bookmakers increasingly focus their attention on US sports such as the NFL and NBA, the American Gaming Association is impatient for the Supreme Court to hear a case that could turn the industry on its head.

The case is seeking to challenge the Professional and Amateur Sports Protection Act of 1992 (PASPA), which effectively bans sports betting. The challenge is being championed by major figures in the NFL, NBA, NHL, MLB and NCAA. Oral arguments are expected to be presented in the coming weeks, and a decision could be reached as soon as June 2018.