The American Gaming Association (AGA) has announced record-breaking commercial gaming revenue of $60.4 billion in the United States in 2022, representing a substantial 13.9 percent increase from 2021’s prior record figure of $53.0 billion. The data collected by AGA covers both the land-based and online gambling sectors, with land-based gambling still dominating the market with 80.5 percent of total gambling revenue coming from these venues.
The online sports betting and iGaming sectors have seen strong growth and now account for 19.5 percent of total revenue, which is a new record high. This growth is a reflection of the continued legalization and expansion of online gambling across the United States. As more states move towards legalization, the online sector is expected to continue its upward trajectory and make up a larger share of the overall gambling market.
US Commercial Gaming Revenue Breakdown
According to recent reports, Land-based casinos continue to be the largest segment, with approximately 84 million American adults, or 34 percent of the adult population, visiting a casino in the past year. This includes new markets in Nebraska and Virginia. Table game revenue experienced a strong boost in demand, up 13.9 percent year-over-year, while slot machines showed steady 5.1 percent annual growth.
In the sports betting sector, the continued growth of the legal market has driven new records for the handle, reaching an impressive $93.2 billion, and sportsbook revenue, which was at $7.5 billion in 2022. This growth was fueled in part by new markets like Kansas, which operationalized both retail and mobile sports wagering, and the launch of mobile sports betting in Louisiana, Maryland, and New York.
Finally, the online casino industry has also shown significant growth, with online casino revenue growing 35.2 percent year-over-year to $5.0 billion in the limited number of legal iGaming states. As more states continue to legalize online gambling, this segment is expected to experience continued growth in the years to come.
Growth in Sports Betting
The growth of sports betting revenue in the United States can be attributed to the increasing number of land-based casinos in Kansas and the addition of mobile and online wagering in New York, Louisiana, and Maryland.
The majority of states in the US have recorded positive growth in this sector, with only Nevada and New Jersey reporting otherwise. However, there are still significant opportunities for growth in the total addressable market, particularly in states with large populations like California, Florida, and Texas, all of which have the potential to legalize sports betting in the future.
The AGA’s report demonstrates the resilience and strength of the US gambling industry, even in the face of the challenging landscape. The record-breaking revenue figures indicate a strong demand for gambling entertainment in the US, and this trend is expected to continue as the industry evolves and expands in the years to come.