Bill Pascrell III: US online gaming market “booming”
The US gaming market will become the “strongest on the globe” within the next two to three years, according to Bill Pascrell, III.
The US industry has seen an upsurge in online activity since the coronavirus outbreak in March, with New Jersey establishing itself as the third largest online market in the world, according to Pascrell, III.
In October, New Jersey set the record for the highest-ever monthly sports betting handle in the US, collecting $803.1m in wagers, eclipsing the record it set in September.
The partner at Princeton Public Affairs group, and leading consultant in the US online and sports betting market, said he was hopeful 2021 will be another strong year for online gaming in the US.
Speaking to Gaming America, Pascrell, III, said: “I believe that the US online gaming market is booming and exceeding expectations and doing extraordinarily well. I think we’re growing and exemplifying sustainable gaming in a very responsible way.
“I think the market will continue to grow, and I think the US gaming market within the next two or three years will become the strongest most vibrant market on the globe.
“I’m very enthusiastic for 2021 for a host of reasons but primarily because I think you’re going to see the onboarding of multiple new jurisdictions in the US, for online poker, casino and sports betting.”
Pascrell, III, also said that the pandemic has transitioned the industry to online, showing states across the country that it’s not a threat to the land-based sector.
He added: “What’s been helpful is as COVID has transitioned people to online, ordinarily of which wouldn’t go online, it’s also had the impact of showing that online is not a threat to the offline sector, it’s a compliment. If it were not for the online gaming industry right now in the US, many casinos wouldn’t be able to stay alive.”
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