With the gambling landscape constantly shifting, the implications of casino cannibalization is a hot topic of discussion among bookmaking industry insiders and independent bookies. As more states move towards legal online casinos, this average model comes under pressure from numerous circuits to match up to physical brick-and-mortar casinos. But new research contradicts these concerns, and argues the launch of online casinos can be a boost to traditional casino players in a state.
The Data Bookies Don’t Want You To See
A new study from Eilers & Krejcik Gaming, commissioned by iDEA Growth, among other things takes a closer look at the dynamics of casino cannibalization. The research suggests that even with the emergence of online casinos, land-based casino revenue would not suffer a significant decline. States which had both physical and internet-based casinos recorded an average quarterly growth in land-based casino revenue of 2.44% after mobile casino apps were introduced, the findings revealed.
Said founder and general counsel of iDEA Growth Jeff Ifrah: “This research shows that online gambling is a real driver of growth versus another brick in the wall next to traditional casinos, all to the benefit of the state.”
The Path of Online Casinos
Furthermore, the study estimates that casino revenue in a typical state would see an annual increase of 1.7% after legalizing online casinos. (Matt Kaufman, a managing director of Eilers & Krejcik Gaming, noted that states where online gambling had been introduced also tended to experience declines in land-based casino revenue flattening out or even returning to growth more than states that lacked online casinos.)
These findings contradict the claim of casino cannibalization, indicating that online gambling may play a complementary role in the industry, fueling economic development and consumer protections.
Impact on Independent Bookies
These revelations have big implications for business strategy — especially for independent bookies who operate within the volatile gambling industry. While the fears of casino cannibalization can seem alarming, the data suggests that online gambling can be a source of difference and growth.
With states evaluating whether to legalize and regulate online casinos, independent bookies must ensure they have the right infrastructure in place to run their online casinos effectively and profitably. And it allows independent mayors to position themselves to be the cutting edge of gaming in their e space in the future of.
Although worries have been raised about the potential for casinos to cannibalize one another, recent studies indicate that online casino integration may prove to be a boon for traditional operators. The pending services are in high demand because the market is rapidly expanding, but independent bookmakers need to embrace the change during the shift.
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