Gambling

US Gambling Revenue Might Break $44B Record This Year

The online gambling sector is at an all-time high, and the US is the biggest example. The nation is witnessing a constant surge in the gambling market, evident by its record 13.6 billion dollars in Q2. The number is 22% higher than the previous quarterly record of 11.1 billion dollars set in 2019 Q3.

At the current pace, the industry might break the 43.6 billion dollars record set back in 2019. Ever since authorities lifted restrictions from day-to-day activities, the gambling market has been witnessing unprecedented numbers. The sector has already scored 25 billion dollars in 2021 and might cross the 44 billion dollar mark in 2021.

Bill Miller (American Gaming Association’s CEO and President) stated that the gaming sector is recovering quickly. 

Almost every state with casinos experienced a quick growth in gambling revenue, surpassing even the pre-pandemic numbers in Q2. According to the American Gaming Association, 22 out of 25 states scored higher revenue in 2021 Q2 than in 2019 Q2. Moreover, 19 out of 25 states scored more revenue in the 2021 first half than in 2019.

Nevada topped the list of states with 3.46 billion dollars in gambling revenue during 2021 Q2. Its revenue was up by 17% than in 2019, showing a relatively high growth rate. Pennsylvania grabbed the second spot with 1.21 billion dollars, almost 45% higher than 2019. New Jersey came in this with 1.11 billion dollars, showing 35.5% growth since 2019 Q2.

Nevada is on a roll as it broke the records set in the first four months of 2021. As per the Nevada Gaming Control Board, the gambling sector garnered 1.2 billion dollars in revenue in June. It was the fourth consecutive month where the industry crossed the billion-dollar mark. The month even dictated a 14.6% growth in revenue compared to June 2019. The state’s 3.46 billion dollars in revenue during Q2 is the highest quarterly earning score in the gambling revenue history.

On the other hand, Las Vegas is also scoring big in Strip, landing 1.79 billion dollars in 2021 Q2. The number marked the third-highest industry revenue of all time. As per Nevada’s gaming administration, Q2 2021 is showing 8.3% growth than Q2 2019. Despite the numbers, authorities believe the industry still requires time to recover completely.

iGaming and mobile sports betting, mainly slots and digital poker kept the industry afloat. However, after authorities lifted restrictions, in-person gambling is recovering in full force. Brick-and-mortar casinos are showing 12% growth in revenue compared to 2019. Comparatively, slot machines are up by 16% in 2021 Q2.

Although the numbers are staggering, the industry is expecting even better numbers in the coming quarter. As things stand, the industry might break the revenue record set in 2019 comfortably.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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