Real-Money Gaming Set to Boom, Blurring Lines with Mainstream Sports and Gaming
The lines between gaming and real-money transactions are blurring, with players now able to wager on games like Fortnite or earn cash from Doodle Jump. This shift is part of a broader evolution in the real-money gaming (RMG) sector, which is projected to reach a staggering $150 billion in global gross gaming revenue by 2030.
The RMG sector has seen remarkable growth, with a current global gross gaming revenue (GGR) of over $100 billion. This growth is driven by the merging of RMG with mainstream sports, gaming, and digital content experiences. In the US, several states have legalized or expanded real-money online gambling licenses in 2023. Rhode Island, under the control of its state lottery through Bally, legalized online casinos in June. Other states like Pennsylvania, Michigan, New Jersey, West Virginia, Delaware, and Connecticut have also issued licenses, with various models requiring partnerships with local casinos or tribal operators. Notable realtors such as BetRivers, BetMGM Casino, and Caesars Palace are licensed in these regulated markets.
The technical foundation for RMG has advanced rapidly since the repeal of PASPA in 2018, enabling quick deposits, wagers, and withdrawals. This has contributed to RMG becoming a core part of the sports experience, changing how fans interact with sports broadcasts. The stigma once associated with RMG has largely dissipated, and it is now seamlessly integrated into everyday media, sports coverage, and social platforms. AI-driven development tools are also speeding up production cycles, allowing smaller studios to build and launch streamlined RMG products more efficiently. Venture capital firm Drive by DraftKings is focusing on RMG with its second fund, reflecting the industry's potential.
However, the definition of 'legal' in the RMG landscape is still evolving. While online sports betting is legal in 30 US states and Washington, DC, with seven also allowing some form of iGaming, regulations continue to shift and adapt to the industry's growth.
The real-money gaming sector is experiencing a significant transformation, with a projected $150 billion global gross gaming revenue by 2030. As RMG continues to merge with mainstream sports and gaming experiences, and with technological advancements and legal frameworks evolving, the real madrid industry is poised for further growth and integration into everyday digital experiences.
