The U.S. gambling sector is flourishing, according to the American Gaming Association’s (AGA) recently published report for the third quarter of 2023. Americans are wagering more than ever, from classic slot machines and table games to the expanding realm of internet gambling.
Total gambling income reached an unprecedented $16.17 billion, exceeding even the figures seen before the pandemic. This constitutes a 6.1% rise in comparison to the corresponding period the previous year. To illustrate the magnitude, only the initial quarter of 2023 witnessed greater earnings.
Growth was evident across all segments of the industry. Slot machines, the mainstay of casinos, generated $89.8 billion (a 1.7% uptick). Table games such as blackjack and roulette followed closely, amassing $26.4 billion (a 3.8% surge).
The true champions, however, were sports wagering and internet gaming. Driven by the introduction of fresh markets in states like Maryland, Massachusetts, and Ohio, sports betting revenue soared by 22.8% to an impressive $21.5 billion. Online gaming experienced a comparable upswing, with earnings ascending by 26% to hit $15.2 billion.
Analysts forecast that 2023 will be a banner year for sports betting, with Americans poised to stake nearly $800 billion. Both physical casinos and digital platforms are reveling in their most successful year to date, demonstrating that the gaming industry is not merely rebounding from the pandemic but flourishing in this new age.
William Miller, the top dog at the American Gaming Association (AGA), was ecstatic about the recent surge in wagering. “With brick-and-mortar casinos and digital platforms thriving, we’re generating numerous employment opportunities and raking in substantial tax dollars for municipalities nationwide,” he proclaimed.
He emphasized how gaming has transformed into a cherished leisure activity for countless Americans, propelling the industry’s remarkable expansion. “Consumers are abandoning dubious foreign websites and gravitating towards legitimate sports wagering choices in droves,” Miller elaborated. “This spike in interest underscores why it’s crucial for federal and state authorities to suppress illicit operations.”