Newly regulated US states are set to outperform established markets next year, research by gambling bonus comparison site BonusFinder.com predicts. According to its Bonus Index forecast, New York, Maryland and North Carolina will oust Arizona, Indiana and Colorado from the top 10 highest-performing states.
The key drivers for this prediction are the larger populations, more competitive markets and bonuses present in these states. BonusFinder.com also attributes this predicted success to “liberal licensing.”
The site considers New York will develop into a particularly successful market, set to become the number one state for sports betting despite one of the country’s highest tax rates. Along with Maryland and North Carolina, they might push established markets such as Arizona, Indiana and Colorado out of the top 10 despite several setting revenue records at the end of 2021.
BonusFinder.com predicts average welcome offers in New York of $1,500, with a lot of $550 and a high of $5,000. Meanwhile, New Jersey, Pennsylvania and Michigan, three of the first states to regulate both online sports betting and iGaming, are predicted to hold onto their top five places in the Bonus Index in 2022.
The Index found that these states, due to their large player volumes, openness to multiple licenses, high bonuses and permitting both online betting and casino games, will continue posting rapid year-on-year growth.
However, the gambling bonus comparison site claims the biggest development of 2022 will be betting and gaming brands flocking to the newly regulating Ontario market, in Canada. BonusFinder.com predicts the province will “instantly become” the most attractive iGaming market in North America “for both players and brands.”
The site says Ontario is set to surpass all its US online counterparts once live in Q1, 2022. This includes New Jersey, which has recently revealed a record monthly turnover of $1.3 billion in bets taken in October. BonusFinder.com believes Ontario might outstrip this in its first month with a population double the size of the East coast state.
“Once regulated, Ontario will become North America’s most important online casino and sports betting market,” claims the study. The Bonus Index predicts this will be the result of a 15 million population, a strong volume of sportsbook and casino players, and an estimated 70+ brands looking to acquire a license.
BonusFinder.com claims that once brands enter Ontario, they will find a highly competitive market where they will have to battle for players’ attention. This will lead to the continent’s most appealing casino bonus of $866, and an estimated sportsbook bonus of $395.
“While the larger established US states will continue to play a crucial role in stateside growth in 2022 our Index shows that newly regulating markets such as New York and Maryland will outmuscle many others due to their large player volume potential and highly competitive markets and bonuses which many simply don’t have right now,” Fintan Costello, Managing Director, BonusFinder.com, said.
The BonusFinder.com Bonus Index measures a wide variety of factors across all current and future regulated sports betting states and provinces across both the US and Canada. These include population, number of licenses and licensees, and betting volume and average bonus offerings across all licensed brands, resulting in an overall Free Bet index score.
Costello further said that, while the new US markets “will be the benchmark for other emerging and existing states,” nothing will compare to Ontario, which is “going to explode when regulated early next year.”
“It’s already a booming market pre-regulation but we fully expect it to significantly outperform any US state by some distance and for brands to race to the border to secure a significant piece of the action,” the Managing Director added.
