Online casino gambling will spread to more than the current handful of states, though it might not happen for several years, Gambling.com reporter Steve Bittenbender said in a recent video interview.
On Gambling.com’s “The Edge,” Bittenbender said that as iGaming spreads, smaller casinos “may find themselves squeezed out” by online gaming technology.
“That’s just the way that capitalism works,” he said. “It is inevitable that iGaming is going to take over.”
However, he said it is unlikely more states will approve online casino gambling soon.
“But you’re going to see probably a whittling down of the number of brick-and-mortar operators as online gaming becomes more robust,” he said. “The question is, when is that tipping point? When does that happen? It probably doesn’t happen at least until the end of this decade, if not longer.”
Though iGaming typically generates more tax revenue than sports betting in states where both are legal, executives at brick-and-mortar casinos have expressed concern that customers won’t visit a traditional resort if they can play games like slots and craps on their cellphones from anywhere. Unions representing casino employees also oppose iGaming, concerned about job losses, Bittenbender said.
“Does it hurt the smaller [resort] operators that may be relying on people to come to their casino, whether or not it’s just to play or to eat and to watch a show?” he said. “That’s the rub right now.”
What’s Ahead For California Sports Betting And Prediction Markets?
Also on “The Edge,” Bittenbender discussed the future of prediction markets such as Kalshi, now available across the country for bettors wanting to put money on events such as political races and sports. The states where prediction markets are available include California, the nation’s most populous state, where commercial sports betting is illegal.
In news that broke after Bittenbender’s interview was taped for “The Edge,” the Nevada Gaming Control Board has issued a cease-and-desist letter to Kalshi, asserting that its offerings on sporting events and election outcomes is “unlawful in Nevada” and could result in criminal charges.
Meanwhile, during a recent related story on the Gambling.com website, journalist and screenwriter sports betting is legal and operational in 38 states. It also is legal in Missouri, though a gaming official recently told Gambling.com it won’t be in operation there until the fall, and possibly not in time for baseball’s World Series in October.