All across the globe, the gaming landscape has undergone rapid evolution, driven by a combination of technological innovation and shifting consumer preferences. In the United States, the growth of digital gaming has reached unprecedented heights, offering a wealth of opportunities for businesses, inventors, and gaming communities. One of the more impactful recent digital gaming developments in the US is the emergence of the iGaming sector. Over the past five years, numerous states have legislated online real money gaming and wagering options, engaging consumers and boosting their economic growth in the possess. With more states still looking to capitalize on the blossoming popularity of iGaming, could South Carolina get in the game as 2023 unfolds?
Expansion of iGaming in the US
iGaming in North America underwent a pivotal change in 2018 when the Supreme Court made its landmark decision to lift the federal ban on sports betting (reversing the PASPA 1992). Until that point, legislated casino gaming, digital poker tournaments and remote sports betting could only be accessed in a handful of states, including New Jersey and Nevada. In other states, offshore gaming was the only solution, exposing consumers to unregulated gaming platforms in the process.
Post-2018, a wave of opportunities has swept through the country, with numerous states, including Pennsylvania, West Virginia and Washington DC, legalizing either one or a variety of practices under the iGaming banner. The country has seen gaming platforms from renowned international operators launch, such as the FanDuel casino, while the dynamic landscape of the sector has opened up new avenues for innovation and profit.
Furthermore, several factors are continuing to keep the popularity of iGaming surging among US residents. Technological advancements, including the widespread availability of high-speed internet and the ubiquity of smartphones, make digital real-money gaming and sports betting much more accessible than land-based options. Additionally, the convenience of online platforms has attracted a broad array of players, transcending the more traditional gaming demographics.
The Status of Real Money Gaming in the Palmetto State
While iGaming in the US is still a burgeoning industry, it has nevertheless been dubbed “the new American Gold Rush”. There’s no doubt that expansion into the sector provides an array of opportunities for economic growth, particularly in those states with a favorable business climate and agile regulatory approach. South Carolina is known for its entrepreneurial spirit, so will it be joining the 26 states that have made the move into the industry?
As of January 2023, there’s a strong chance this might be the case. At the start of the year, Representative Todd Rutherford sponsored a bill (South Carolina House Joint Resolution 3095) that would amend the existing state constitution on real money gaming and competition. Although the passage of the amendment wouldn’t legalize these practices at this stage, it does seek to give the South Carolina legislature the ability to do so – an important first step in legitimizing iGaming markets.
Should iGaming markets develop in the Palmetto state, there’ll be widespread opportunities for inventors and entrepreneurs in the region to shape the future of real money gaming. Economic growth can be found not just in the GGY (gross gambling yield) pulled in by digital platforms but also in the tech sectors that power cutting-edge iGaming experiences.