Lewes, DE -- (SBWIRE) -- 09/23/2016 -- Report forecast the online gambling market in the US to grow at a CAGR of 51.71% during the period 2016-2020.

Online gambling refers to web-based gambling that includes casino, betting, and lottery games played on computing and mobile devices. Online gambling rules differ from country to country. In the US, the government has placed stringent regulations on online gambling, which varies from state to state. Vendors are also launching gambling apps for mobile devices to reach a larger audience.

The report covers the present scenario and the growth prospects of the online gambling market in the US for 2016-2020. To calculate the market size, the report considers the revenue generated from the legal online casino, betting, and lottery segments in the country.

The market is divided into the following segments based on device:
- Mobile devices
- Computing devices

According to the report, one of the key drivers for market growth will be popularity of online gambling. Online gambling extends the reach of the gambling games because it is web-based and does not require the physical presence of the players at the venue. The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling in the US. Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influence them to try online gambling. In the US, the average age of an individual visiting a casino is 45 years, whereas an average age of an online gambler is 34 years. The increasing presence of younger populatuion on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period.

Further, the report states that the processing of customer payments through financial institutions remains a big challenge for the vendors. Until 2011, the federal government was liberal in targeting online gaming operators approaching patrons in the US. However, the implementation of the Unlawful Internet Gaming Enforcement Act of 2006, prohibits financial institutions and credit card processors from knowingly accepting payments related to a bet or a wager in an online gambling. Moreover, online gaming transactions have become the target of a federal investigation, which the financial institutions want to avoid. Thus, the restrictions on processing credit card transactions have made customer payments difficult from the online gaming accounts of the patrons. The issue can be resolved if the financial institutions and credit card processors reconsider their policies.

Online Gambling Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the online gambling market in the US: 888 Holdings, Betfair Casino, Borgata Hotel Casino & Spa, and Dover Downs Gaming & Entertainment.

Other Prominent Vendors in the market are: BetAmerica, Betfair Online Casino, Delaware Park, Draft Kings, Fan duel, Golden Nugget Online Casino, Harrington Gaming online, Pala Casino, Real Gaming, Resorts Online Casino, TVG, twinspires, Watch and Wager, WorldWinner, and WSOP.

Market driver
- Scope for increased contribution to national economy
- For a full, detailed list, view our report

Market challenge
- Addiction to gambling
- For a full, detailed list, view our report

Market trend
- Effective marketing strategies
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 64 pages and 36 Exhibit "Online Gambling Market in the US 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by type, Online gambling market in US by growth potential, Market segmentation by device, Buying criteria, Market attractiveness, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/online-gambling-market-us-2016-2020

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