If you are looking to invest in an exciting market, the online poker industry is worth considering. More people have been playing internet games as a result of the pandemic, so online poker companies have seen significant increases in revenue. “We had more people focused on online casinos. The online business grew substantially throughout Q2 and Q3  to a new level,” said Max Bichsel, a casino provider VP. And although there is a vast amount of online games, online poker was one of the most popular.
But for an industry to be a worthwhile investment, it needs to show growth for years to come. So, will the online poker industry enjoy further growth even after the effects of 2020 blow over? The answer is yes—and below are some reasons why.
Lessening Restrictions Around Online Poker
Playing online poker is not against the law in the U.S. However, many states, such as California, have banned providers from establishing their business in their area. Fortunately, the number of states that do allow these businesses to be formed is increasing everyday.
For example, while Delaware was the first state to regulate online poker back in 2012, it was not until 2017 that Pennsylvania’s governor allowed providers to operate in the region. Moreover, it was not until early 2021 that Governor Esther Whitmer allowed the same providers to establish businesses in Michigan. In the coming years, other states such as Illinois, Massachusetts, and New York are pushing for various policies that will legalize online poker at the federal level.
Increasing Number of Ways to Enjoy Online Poker
Any game, when played repeatedly, becomes boring after a while, leading people to move onto more interesting things. However, websites that let people play real money poker games continue to offer a mixture of games at various stakes. This is not limited to the availability of different poker variants like no-limit Texas Hold’em and pot-limit Omaha, but also formats like cash games. Multi-table tournaments and heads-up matches are also available for more competitive players. Online poker providers always find creative games to keep the game interesting, ensuring that the online poker industry doesn’t stagnate.
Improving Internet Infrastructure in the Country
The pandemic has increased the number of internet users and the time they spend on the platform. After all, whether it’s for online shopping, online gaming or other things, many of our activities are now online.
But our internet infrastructure isn’t perfect. For instance, there are rural areas where Wi-Fi towers cannot reach. Urban cities also face speed issues because of the number of users accessing the network at the same time. Since last year, however, big strides are being taken to improve network access. President Joe Biden even recently proposed a $2.3 trillion infrastructure package that will improve internet service in the U.S. States such as California and Washington also have similar federal projects ongoing. If the internet infrastructure in the country improves, then it’s very likely that more people will start playing online games and, by extension, online poker. And this will only continue help the market expand at an exponential rate.
There are many reasons to invest in the online poker industry, from the increasing number of online poker variants available to the improved network infrastructure in the U.S. Start your research on states that might open their doors for online poker providers soon. Then, move onto online poker businesses that are continuously showing revenue hikes.
For more business news and investment tips, take a look at the other articles on our blog.