It is with great delight that the American casino industry has experienced a major increase in year-on-year revenue in 2021. Both land-based casinos and online gambling sites have witnessed yet another milestone as Q3 brought with it the highest ever revenue to date.
It’s clear that many have thrown caution to the wind after a tumultuous 2020 where Covid-19, amongst other factors, halted the gambling economy to some degree. Individuals have certainly gone out in droves to experience in-person gaming after a long period of being confined and naturally hesitant to venture in light of the latest pandemic. However, the record revenue experienced by casinos and online operators in the US can also be attributed to the expansion of legal online gaming throughout The States.
The latest revenue stats
There are an abundance of figures out there that outline the sheer growth in the industry in 2021. However, the ever-reliable American Gambling Association (ASA), which is the industry’s trade group, has reported that this year will be the best ever. Q3 revenue was close to $14 billion while casinos have won $39 billion to date for the first three quarters of this year. This surpasses total revenue for 2019 and is a marked improvement on what was earned in the first three quarters in 2019. It’s clear that the industry is on track to surpass the total revenue for any one year – which is $43.65 billion set two years prior.
You’d be forgiven if you thought this was a nine day wonder. But, the success can be attributed to a unified approach from various stakeholders and a sustained move towards providing top-class gaming experiences, in-person as well as online.
Online casinos shine bright
As many sought refuge at home throughout the early outbreak of the pandemic, online gaming platforms came to the fore. The uptick in individuals who were drawn to online gambling sites far outstripped projections prior to the commencement of 2019. It goes without saying that this is due to the fact that people were unable to visit land-based casinos but also due to a revitalized and consolidated effort to focus on online gaming options and enhance the overall experience for users via desktop, tablet, and mobile platforms.
Notably, live casino immersion as well as the availability of rewarding loyalty programs has set the stage for individuals to find an operator that ticks the right boxes and stick with them for the foreseeable future. The revenue associated with online gambling came in at a whopping $938.6 million.
Interestingly, sports betting encountered a slight downturn in the third quarter of 2021. This comes off the back of a reduced and somewhat limited sporting calendar. But, the combined efforts of operators, and inclusion of more individual players, has meant that online casino and sports betting revenue is up 200% year-on-year. It’s an eye-watering increase in overall revenue and indicative of an ever-burgeoning market.
2022 will be sure to serve up yet another milestone
There is little doubt that 2022 will bring with it even more record revenue figures and overall growth. As we continue to adapt to the current climate, many will shift over to online gambling as it provides a safe and regulated space to enjoy a wide multitude of options – from quality casino games to ever-shifting sports betting markets and live video feeds. Keep an eye on the four states that enjoy the majority of coverage; New Jersey, Pennsylvania, Nevada, and New York. The former two being the front-runners in online gambling within the US.
We hope that you visit our weekly news posts as we bring you the latest updates and happenings from all over the US. Cheers for now!
