NAGRA falls in lineup covering North American gambling revenue hitting all time highs in 2023 Dawn river and every state’s effort is towards the growth of the individual sector as mentioned by the American Gaming Association (AGA) US gaming industry has posted record results in the period and the innovation of sports betting, iGaming and the traditional casino have been the primary key drivers.
Gambling revenue growth in record territory
Por tercer año consecutivo, la industria de juegos comerciales de EE. UU. tuvo una cifra récord, con $66,52 mil millones en ingresos por juegos de azar en 2023. Básicamente, eso es un salto del 10% con respecto al total del año anterior y refleja el impulso continuo de la industria, incluso con presiones económicas como la inflación.
December 2023, in particular, added a staggering $6.22 billion by itself, marking a new record for single-month revenue, and pushed 2023 Q4 results to $17.42 billion, a 9.5% year-over-year boost.
The Industry is Bankrolled Through Diverse Revenue Streams
A major factor behind this record-breaking gambling revenue was the diversity of income streams. Because the total haul came from a combination of land-based casinos, online sports betting, and iGaming.
Sports Betting on the Rise
Sports betting proved to be among the biggest winners, with revenue up a whopping 44.5% compared to a year ago. The increase was driven largely by new states launching their markets, including Ohio, Kentucky, Maine, Nebraska and Massachusetts. With the expansion of regulated sports betting in the states, the revenue opportunity continues to grow massively.
iGaming’s Strong Performance
With some of that growth attributable to the increasing importance of online gaming, with iGaming revenue soaring 22.9% year-over-year. Basically with six states currently providing online casino gaming, total iGaming revenue amounted to $6.17 billion in 2023. The easy and extended availability of online platforms is bringing in more and more users.
State and Jurisdiction Gambling Revenue
Among the 35 commercial gaming jurisdictions that operated both in 2022 and in 2023, 31 reached gambling revenue milestones. Certainly importantly, 28 jurisdictions set all-time annual records — and nine of the 10 highest-grossing states. Firstly the success illustrates the widespread appeal and profitability of legal gambling across the U.S.
Opportunities for Future Gambling Revenue
Operators hoping to bombard the burgeoning U.S. gambling market will have a bright future. Certainly with new legislation breaking down barriers and consumer interest hitting record highs, 2024 may be yet another banner year.
In order to stand out, bookies and sportsbook operators need to use advanced tools and betting platforms. Those who decide to use innovative technology and offer new marketing methods will have the chance to lead the market in the future.
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Gambling revenue that’s setting records in 2023 is flashing a new era for the U.S. gaming industry. Comparatively all segments are thriving, from physical casinos to online platforms. However the time is now for bookies and betting operators to invest in technology, expand their offerings and provide an extraordinary user experience.
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