An array of tech companies including Amazon, Google, Microsoft and Facebook are planning to build casinos across the U.S. to compete with existing casinos.
The investments are part of an aggressive push by the tech giants to attract a younger, more tech-savvy population that could play a key role in a casino boom in the United States.
The tech industry has been ramping up gambling at a time when casinos are struggling to find enough room in their casinos, as they face growing competition from mobile gambling devices, including Amazon’s Prime membership and Google’s GoCard.
At least five major U.K. casinos have said they will close in 2019 as technology continues to mature and demand for gaming services continues to grow.
“The game is changing, and it’s moving faster than ever,” said Alex Sirota, co-founder and CEO of online gambling platform Playground Gaming, in a statement.
“It’s a global game with multiple locations and an increasingly sophisticated player base.”
The gambling sector in the U, in particular, is expected to be the fastest-growing industry in the world by 2025, according to the World Economic Forum.
That’s a huge boost for gambling companies.
The U.N. has projected that global gambling revenue will reach $2.2 trillion by 2025.
The industry generated $1.7 trillion in global revenues in 2020, up from $1 trillion in 2020.
The casino industry’s success is not all about technology.
The United States has seen its share of tech-driven growth in recent years, particularly in the online gaming space, where tech giants like Amazon and Google have grown their presence.
However, gambling remains a niche market.
In 2020, there were just 5,200 casino gaming locations in the country, according the Association of State Gaming Control Boards.
The biggest reason for that, according TOF’s Siroty, is that gambling is illegal in most states, and only about 10 percent of gambling sites operate in states that allow it.
“Gambling in America is a gray area.
There’s no clear regulatory framework,” he said.
“In general, you need to be at least 18 years old to gamble in the states where you can legally do so.
You need a social security number to gamble.
And you need a license to gamble.”
In 2020 alone, there was a total of 883,829 licenses issued by state gaming authorities.
About 3.3 million people used gaming platforms in the last year, according a report by research firm iGaming.
In addition, more than 60 percent of the U!
population is over the age of 18.
“Gaming is a global market, and there are no rules for the game in any of those jurisdictions,” Sirotas said.
And while there are currently about 1.3 billion Americans online, most people have never been to a casino.
That makes gambling in the next generation of the game a particularly risky proposition.
“You can’t play it as an adult, so there’s not that much room for growth,” Sidera said.
Gaming companies will need to convince their users that playing in a new and exciting environment is worth it.
That could be a tough sell for many of the players who have never gambled before.
“Some people just think it’s a game to go to the movies, or go to a restaurant, or something, and they don’t think it can really take them to places they’d like to go,” said Adam Miller, who owns the popular gambling website The GameCrafter and was recently featured on the Discovery Channel’s hit show “The Game Crafter.”
But Miller said that gambling isn’t just about the money.
“If you think about it, this is really about the human element, and the way we connect with each other, the way people get along,” he added.
“And there’s nothing wrong with having a good time.”