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Michigan has won $2 billion online since Jan. 2021; Connecticut $199.7 million since Oct. 2021; West Virginia $137.4 million since July 2020; and Delaware $42.2 million since Dec. 2013. Nevada offers online poker but does not break out that revenue separately from the in-person revenue casinos report to the state.
The exploded adoption of online gambling can be well understood from the fact that the market was worth USD 57.54 billion in 2021, and is projected to grow at a CAGR of 11.7% between 2022 and 2030. The growth of the global online gambling market is being driven by the increasing popularity of online games in public places and at home, thanks to smartphones and fast mobile internet. The market is also being boosted by cultural and legal approvals, easy access to online gambling, celebrity endorsements, and corporate sponsorships. Due to the availability worldwide of affordable mobile apps, the market will continue to grow.
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The process is easy and app-driven. Gaming companies provide constant offers of ¡°risk-free¡± bets, which allow customers to bet up to a certain amount; if they lose, the money is returned to them as a credit (not cash) that they can use to bet later. They don¡¯t need ¡°a guy¡± or an offshore account. They open an app from a myriad of gaming companies (13 are active in Pennsylvania and 20 in New Jersey) and bet on just about anything you can imagine, including darts, snooker, Australian rules football and handball, before and during games. It¡¯s reminiscent of the January 2021 technology-fueled stock-market run of GameStop, which was promoted on social media and joined online by scads of profit-seeking young investors. And the chance to play parlays, place prop bets (will James Harden make more than 2.5 three-pointers against the Heat?), and wager during games is extremely attractive to people 21 to 30 years old.
In the end, the ideal device to use is the one that fits your lifestyle and use case the best. Remember this before making a hasty purchase that you might later regret. Whatever type you choose, be sure the casino is reputable, and gamble responsibly and safely.
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