The Strategist

US gambling industry hits record highs

02/18/2022 - 02:56

According to the American Gaming Association (AGA), US gambling turnover hit an all-time high of $53 billion in 2021, a 21 percent rise over the previous high set in 2019 and a 67 percent increase over 2020 volumes, which were slowed by lockdowns.

Casinos, slot machines, and other traditional gambling enterprises made for the lion's share of total turnover - $45 billion, up 6.6 percent from 2019. 

The expanding sports betting market, on the other hand, grew at a considerably faster rate, with revenue up 366 percent in 2019 and up 177 percent to $4.3 billion in 2020.

The easing of COVID-19 restrictions was followed not only the booming popularity of sports betting among consumers and an economic recovery, but also by increase in the number of states where gambling is legalized - now 33 states and the District of Columbia - are cited by US experts as reasons for the gambling industry's record growth.