Sports betting and online gambling are still in their infancy when it comes to U.S. markets, but major changes are underway in the seven jurisdictions that currently allow some degree of form of sports betting. As more and more states move to allow gaming and its accessories online, companies are emerging and positioning themselves best to take their piece of the pie. One of these companies, FanDuel, is on its way to becoming the # 1 iGaming company in the United States.
Balance in New Jersey
While the dazzling lights of Las Vegas should be considered first when it comes to gambling, New Jersey is on their heels. The jurisdiction is just slightly behind in terms of the number of in-person casino facilities, but when it comes to the online gambling market, New Jersey is at a whole different stage. The state racked up nearly $ 1 billion in revenue to tap into from online casinos alone in 2020. The last month of this calendar year was one hundred percent higher than the same period last year.
These figures represent astronomical growth: all the more so if we keep in mind that the last two years have been plagued by a global pandemic. Physical counterparts have seen a significant drop in income, expected with the various trade restrictions put in place in the wake of COVID-19, but it may also signal a shift in consumer interest in online gaming as a whole which is here to stay. In order to conquer this market, FanDuel has even announced a new pure casino app in the largest online casino market in the United States. Even if they only capture a fraction of the overall market, they will take giant leaps against competitors who have yet to establish themselves in the Garden State.
Initially, FanDuel was unable to obtain the appropriate license to become a registered New Jersey online casino. This is due to their partnership with Meadowlands Racetrack, which was a strategic partnership caused by New Jersey state law, which required online gaming platforms to have at least one physical location in the state. However, thanks to their parent company Flutter, FanDuel was able to use a license from Flutter, gaining access to New Jersey’s huge online gambling market.
FanDuel and DraftKings, one of their main competitors, captured seventy-five percent of the online gaming market share before they even moved to New Jersey. With the nation’s largest online gaming jurisdiction at its fingertips, FanDuel is well on its way to not only claiming a stake in the New Jersey gaming scene, but also establishing itself as the premier online gaming company in the world. country.
Make moves in Michigan
FanDuel has been around Michigan for some time now, but on July 22, they added live dealer games to their repertoire. Live dealer games allow consumers to get a more augmented version of the online casino experience, which is more similar to the in-person counterpart due to its fast paced nature. Already number two in the state, with their expanded offerings, chances are they can overtake BetMGM to claim the top spot for themselves.
With online gambling in the United States still in its infancy, the major players are still in the process of being made. However, as FanDuel continues to take smart action in America’s biggest gambling markets, they are definitely shaping up to be the # 1 online gambling company in the United States.
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