US Online Casino Industry Is Growing Fast
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The American Gaming Association has published data about the casino gambling revenue in the 3rd quarter of 2021, and it is evident that it reached a new record of 13.89 billion dollars. However, what is fascinating is that the revenue generated by gambling until now in 2021 is 38.67 billion dollars, which means that it exceeded the amount for the entire 2020.
The revenue from commercial casinos in 10 of the 25 states that have gambling, reported this quarter as one achieving records. This includes states like New York, Nevada, New Jersey, and Pennsylvania, which are countries that had some of the lowest and highest gambling revenue back in 2019.
According to a gambling scholar at the University of Nevada Las Vegas, one of the reasons that produce high numbers of gamblers is because they have a desire to go out and do things, especially those who had been reluctant to visit casinos in Vegas or at their local casinos.
States like Pennsylvania, New York, Nevada, and New Jersey were with the highest-grossing gambling revenues in 2019, and 10 states set new quarterly revenue records back then. These four states also set new quarterly revenue records during the quarter. And back in 2015, Vegas reached a new high of gaming revenue of 2.06 billion dollars, which was a new record at the time. Also, 9.2 million visitors came to Vegas in the 3rd quarter, which is around a 10% increase over the same period last year. And this is the highest visitor-level for one month since the Covid-19 pandemic hit.
The increase of these figures mainly comes from iGaming, which is online gambling, and it contributed the most since the income totalled an impressive 938.6 million dollars. This is one of the reasons why sports betting is at an all-time low of 886.5 million dollars in the first quarter of this year, mainly because there were no sporting events in the late summer. And when comparing these 9 months with the same period of time in 2020, it is evident that there is a 200% increase in the entire revenue from online gambling and sports betting, according to the statistics.
Source: <Wayne P, 09.11.2021, https://www.fox5ny.com/news/us-casinos-best-quarter-ever>