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About future projections of the Washington gambling industry

Picture of future Washington Casinos

If you’re a Washington resident who loves to play traditional slot machine games, switching to online gaming away from the many traditional casinos may not seem like a very welcome idea to you! Regardless, it can’t be denied that online gambling industry is growing at a very rapid pace world over and is already contributing a good deal to the overall gambling revenues everywhere.

Future projections

A study carried out by the Spectrum Gaming Group on behalf of WSGC revealed that revenue generated by the gambling industry of Washington is expected to grow by an impressive 37%, to $ 3.5 billion, by the year 2020.

Factors of growth

There are many different factors (apart from inflation) that are being credited for such growth. Some of them are:

  • The population of Washington is expected to grow by around 5.3% in the next 5 years.
  • A major percentage of Washington’s population would be one-hour drive away from any Washington Class III casino.
  • Washington’s casinos have all the means to make the most of the newest technologies, so as to drive millennial crowds to their establishments.

    However, the biggest factor behind such growth is expected to be the way it’s getting easier and easier for Washington residents to access gaming options.

    All eyes on the future of gambling – online gambling!

    The report also took a good look at the different forms of gambling that aren’t presently offered in the state of Washington, including a couple that are presently illegal.

    As per Spectrum, going forward, online casino games and online poker can earn large amounts of gaming revenues for the state. Even though legalising online poker has come up time and again in the recent years, the idea hasn’t gained major attraction. At present, online gambling is legal only in Delaware, Nevada and New Jersey in the United States.

    Experts feel that the figures suggested by the Spectrum study actually don’t reflect the true potential of the online gambling industry in Washington. If we talk of New Jersey for example, the revenue from regulated online gaming industry in the state experienced a huge surge in the year 2016 and rose to a whopping $ 196.7 million by the closing of last year. Even if we take the Washington’s comparatively smaller population into account, the state can expect to easily go beyond $ 150 million online gambling revenue per year.

    The report shunned the idea that online gambling would eat into the revenues of land-based casinos, especially going by the trends in New Jersey. No evidence of any such effect has been found in NJ so far. In fact, online gambling industry has reactivated many old gamblers who hadn’t been gambling for a long time. So, online gambling is in a way very good for the overall growth of gambling industry.

    The report also indicated that when it comes to gaming activities, Washington has a comparatively higher participation rate than many other States, thereby resulting in higher gross revenues.

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    Site Posted March 5th, 1999!
     
     

    Online casinos are ILLEGAL for Washington residents. Do not use our internet casinos links. This link is for users who have checked with local laws to make sure that internet gambling is legal in their area. Enjoy the casino guide. And enjoy Washington!