The year 2020 will likely go down in the history books as one of the most disruptive years to business, the global economy, and a familiar way of life for everyone. With businesses shut down, schools closed, and the entertainment industry decimated, it’s hard to see how or when things could go back to normal.
Some industries, however, have made use of the changing times and moved their business models completely online. Adapting to severe changes like pandemics, lockdowns, and social distancing has brought out some big time winners, like video conferencing, cybersecurity, and the online gambling sector.
New online gambling legislation
Although Pennsylvania and New Jersey get the most press for their more liberal views on online gambling, it looks like the tides are beginning to change in the United States. Recently, many states’ legislators have changed their stance on iGaming.
US legislators are finally starting to notice that Americans want to gamble online and they’re going to do it regardless of what the state says. Whether it’s physically going outside of jurisdictions to gamble in a state where it’s legal, or more commonly, simply going online and placing bets with offshore online casinos where the laws are a bit more permissive, the laws are no longer reflecting the will of the people.
The sweeping changes caused by the Covid-19 pandemic have seriously forced legislators to look at the potential loss of tax earnings leaving their respective states and for many, that tax revenue is looking to be just what the doctor ordered to help rebuild in a post-2020 world.
Several states have already jumped on the bandwagon and have legalized iGaming and once the trend picks up speed, it wouldn’t be surprising to see it hit more and more states. Even the established brick and mortar tribal casinos are trying to get in on the action.
Some Native American tribes have already pushed for new legislation that would allow them to expand online or even statewide. This would bring a big boost economically and for a push towards legalizing (and normalizing) iGaming and online sportsbetting.
Louisiana and Texas
With Louisiana finally passing new gaming legislation, there’s likely to be a surge of betting shops opening throughout the state. This gives players the opportunity and choice to game within their own state but more importantly, there will likely be a ton of shops opening right on the border with Texas. Texas, whose gaming laws aren’t as lax, will find itself with a massive selection just a quick jump across state lines.
This may not seem like an ideal situation for Texan gamers but there’s a silver lining that we may see come to fruition in 2021. Because of the economic recession/depression, there are a lot of red marks in every state’s budget. States like Texas are looking to reduce their deficits and balance the books.
Legislative talks have already begun on how to properly leverage sin taxes to boost the state’s budget post-2020. Once their borders become flooded with new betting and sportsbook opportunities, they’re sure to have new tax revenue jump right across the state to Louisiana. It’s only a matter of time before they work to pass new legislation.
The growth of cryptocurrency and blockchain
Cryptocurrency has been growing by leaps and bounds recently and perhaps nowhere so much as online gambling. The use of cryptocurrencies as verified payment methods at online casinos offer players and casino operators a multitude of advantages.
The transparency of blockchain technology is beneficial for both parties, making it a win-win for everyone involved and encouraging many more online casinos to implement it. Blockchain offers increased security through its encryption while at the same time offering lower transaction charges than credit/debit cards. This savings is enjoyed by the players with better odds, and passed on to the operators with improved margins.
The rise of low wagering casinos
The competition in the online gambling sphere is getting fierce and operators have to constantly outdo their rivals for getting new players to sign up. Online casinos offer incredible welcome, no deposit, and free spin bonuses that add up to a great bargain for players. For a list of no deposit bonuses updated daily, head over to NoDepositFriend to find the best deals for no deposit play.
One of the newest methods for attracting new players is the emergence of low wagering requirements. Allowing lower wagers attached to a generous welcome bonus is a surefire way to get new players in the ‘door’ and this tactic will definitely provide more options for players in 2021.
Looking toward the New Year
The year 2020 has seen a lot of upheaval, and that includes legislation in the online gaming sphere. Most notably has been Louisiana’s legislation, which looks to be the catalyst for the expansion of iGaming acceptance in the southwest.
Predictions are looking good for several states to legalize sportsbetting next year, allowing betting on mobile devices, and for a few others to expand online slots in 2021. All of this makes for a sunny outlook for US gamers: more variety, more options, and less red tape.