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Home Investment Tips

4 Reasons To Assess The Online Poker Market For Investment

moneyvests by moneyvests
June 4, 2022
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4 Reasons To Assess The Online Poker Market For Investment
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Table of Contents

  • 4 Reasons To Assess The Online Poker Market For Investment
    • 1. More States Likely To Get On Board
    • 2. Pandemic Influx
    • 3. Crypto Sites Emerging
    • 4. Potential Shifting Focus To U.S.
      • Conclusion
      • Fact Check

4 Reasons To Assess The Online Poker Market For Investment

 

 

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In a December 2021 post, we took a look at the growing gaming industry and some of the ways in which people can look to capitalize on it.

The article pointed out that the gaming marketplace offers “ample opportunities,” and while the focus was primarily on what entrepreneurs can do to compete in the space, these opportunities also exist for investors.

This is perhaps particularly true in the online poker segment of the broader gaming industry.

Industry reports on the growth of the online gambling market in the U.S. suggest impressive numbers for the coming years. Specifically, a CAGR (compound annual growth rate) of 17.34% is expected between 2022 and 2027, propelling the online gambling industry as a whole toward lucrative value (already pegged at 2,178.29 million in 2020).

And a significant portion of this projected growth is chalked up to expanding activity in states that have legalized sportsbooks and –– crucially –– online poker.

With this projected growth in mind, we wanted to build on the notion of the gaming industry providing opportunity by looking at four specific reasons to assess the online poker market for investment potential.

 

1. More States Likely To Get On Board

The clearest reason that the online poker market offers potential opportunity is that in the U.S., it may well be in its infancy. As of this writing, New Jersey, Nevada, Delaware, Michigan, and Pennsylvania are the only states with legal, operational poker sites.

However, online poker has been legalized in Connecticut as well (there just aren’t licensed sites operating yet), and Arkansas, Illinois, Massachusetts, and New York (at least) are thought to be close as well. In short, the next few years could see online poker business expanding from five states to 10 or more.

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2. Pandemic Influx

There have been a number of indications from large poker sites around the world that more people started playing during the pandemic. In the fall of 2020, the Global Poker research outlet claimed that the U.S.

in particular had seen an increase in first-time online poker players of more than 250%. It is not yet clear how many of these players are still involved in online poker, but we do know that the market has seen a significant influx of late –– which could make for greater sustained business moving forward.

 

3. Crypto Sites Emerging

Another interesting factor to keep an eye on is the emergence of cryptocurrency online poker platforms.

Initial excitement surrounding this development revolved around the notion that gambling with cryptocurrency might be allowed where gambling with cash is not.

To be clear, there is no legal backing for this notion, and those in states that don’t allow online poker should still avoid it.

Nevertheless, there are some perceived benefits to crypto-backed online gambling –– such as easy funding of accounts and anonymity for players. Because of this, we are seeing cryptos accepted both at new and existing sites.

Already, high-profile platforms like Bovada, Ignition, and Americas Cardroom are on board. From an investing standpoint, it’s worth monitoring the potential for ongoing crypto integration to attract yet more people to online poker.

 

4. Potential Shifting Focus To U.S.

Finally, it is also worth noting that as online poker and casino activity expands in the U.S., it may decline in other busy markets.

Notably, tightened regulations on gambling are expected in the UK, where revenues were already hitting a plateau before the pandemic. There is no certainty that this will ultimately push more activity to the U.S.

However, with various online gambling companies operating on both sides of the Atlantic, there is a possibility that European crackdowns could lead to further investment in the U.S. market. This in turn could make investment in U.S. online poker all the more appealing.

As with any financial matter, it is important to consider all of this carefully, and with regard for your own financial standing and goals.

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Every investment is a risk. For the above reasons though, the online poker market in the U.S. is at least worth assessing for potential.

Conclusion

We hope you enjoyed this article… What are your thoughts?

 

 
Please feel free to share this article!

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to contact us.  If you see something that doesn’t look right, contact us!

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