Over the years, the US and Canadian markets have been among the good books of investors, corporate firms, and digital communities. Over the past five years, many online gaming companies have heavily invested in the US, Canada, UK, and European regions. With the availability of integrated electronic gadgets and smart devices, users can sign up on e-gamming media and play limitless multiplayer games and tournaments with friends and family.
About two decades back, internet cafes across the streets and neighborhoods were occupied by avid gamers and online geeks who spent long hours streaming content and playing video games. With the availability of stable internet spots and connections, gamers can stay back in their living spaces and participate in various e-gamming tournaments and global events. According to the recent statistics of 2020, there are more than 1 billion active online gamers across the globe. During the medieval times of the Covid-19 outbreak, determined individuals were forced to stay back in houses to mitigate the spread of the virus. That was when many gamers switched to e-gaming platforms and explored the virtual user interfaces via their mobile and laptop screens. With the growing number of e-gamers, it is expected that the online gaming industry will grow by 200% in upcoming years.
How is Online Gaming Market Evolving?
As an investor or a multinational businessman, one can set up online gaming platforms across the US and make millions of dollars in revenue every year. The online gaming industry in the US is gaining continuous popularity among avid gamers, who spend extended hours playing highly visual and animated video games.
These online gaming platforms and businesses are supported under public-private partnerships, contributing to US’s GDP and online communities. Continue reading to find out about the potential states where one can grow their online gaming business.
Maryland has the most significant number of online gamers involved on various regional and global gaming platforms. Many local businesses operate social gaming sites in Maryland, which are only accessible after verification to avoid uncertain online threats. Online e-gaming portals are accessed by millions of college and university-going students and adults from the working class. Online gaming has no age restrictions, as one has to sign up via their devices on online gaming portals and start interacting with other players. In the upcoming years, Maryland will produce more talented and determined gamers.
Every 8 in 10 high school-going teenagers has access to a modern smartphone and intelligent gadgets. With the availability of high-density graphics on 6-inch mobile screens, teenagers prefer signing up on e-gamming portals and spending their free time in online gaming. Online gaming was regularized and made legal in New Jersey in 2013. Since then, the growing demand for online gaming and betting platforms has dominated land-based casinos and gaming spots.
If you are a potential investor exploring online gaming trends in New Jersey, you will come across about 20 operational online casinos. In 2021 New Jersey online casinos became legal. Online casinos and gaming arenas have been well accepted in the region. Online users and regular gamblers like playing in online casinos, as they do not have to wait for their turns or empty seats at their favorite table games. Betmgm offers the highest payout percentage of 98.3% across the entire state of NJ; however, many other online casinos also offer decent payouts and rewards.
All across the US, almost every individual has access to the internet and smartphones, making online entertainment easily accessible. The online entertainment and gaming industry across the other states of the US has also picked pace with the influx of VR technology and other smart devices that connect to the internet. As an investor, if you are analyzing the best market or region across the US, you need to narrow down your analytics towards the availability of resources.
California is among the developing states regarding online gaming platforms and communities. Online gaming is yet to become popular throughout California, but in a few cities like San Diego, San Jose, and Los Angeles, online gaming platforms have attracted thousands of young teenagers. Moreover, online gambling in online casinos and betting sites is regularized by the state government and allowed for the public. California has always been the center of attraction for investors and multinationals that plan to scale their business by introducing new platforms and ventures for the residents of California.
Michigan is considered to be the next Silicon Valley, and that’s why almost every investment firm and businessman is motivated to invest in online ventures in Michigan. Online gambling is also legal throughout the state of Michigan; however, the minimum age limit is 21. Many online gaming companies and startups are expected to start and expand their operations in Michigan and its adjoining areas. Michigan is a technology-driven state, where thousands of professionals team up to build robust digital platforms, as per the requirements of the time and internet. Therefore, the online gaming platforms across Michigan are expected to update their UI/UX designs to make user-friendly digital ecosystems.
The online gaming platforms are expected to grow by 100% in the upcoming 5-10 years. Thousands of new individuals sign up on various gaming platforms every day, having different gaming priorities. Not every individual loves playing animated online games; however, with the influence of digital NFTs, it is expected that online gaming ecosystems will be introducing new games and features. As an investor, one should always consider starting up an online business in a state with stable internet connections and digital tech products, which assist online gamers in accessing digital gaming rooms.
Asian stock markets struggled to maintain even a sliver of a rebound on Monday, as China's shockingly dismal figures showed...Read more