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US gambling hit record $54.9 billion in revenue

US gambling hit record $54.9 billion in revenue

The association also notes that the industry has benefited from the general economic recovery in the U.S. The US gambling industry is expected to continue to grow in the coming years, as more states continue to legalize and regulate gambling activities.

March 3, 2023 in Gambling Industry
By HotSlot

The US Gambling Industry experienced a record-breaking 2022 year in terms of revenue. According to a study by the American Gaming Association, the total revenue of gambling in the U.S. hit a record high $54.9 billion in 2022, up from $53.6 billion in 2021.

The growth in the industry is largely attributed to the continued expansion of online gambling. Online casinos and sports betting sites have become increasingly popular in the U.S., with more states legalizing and regulating these activities.

The states of Pennsylvania, West Virginia, Michigan, and Virginia all passed legislation in the past year allowing for legal online gambling.

The traditional brick-and-mortar casino industry also saw growth in 2022, with revenue increasing by 4% year-over-year. Casinos in states such as Nevada and New Jersey saw significant increases in revenue, as did casinos in other states that recently legalized gambling. The American Gaming Association attributes the growth in the industry to a number of factors, including increased consumer confidence, more states legalizing and regulating gambling, and also the continued expansion of online gambling sites.

The association also notes that the industry has benefited from the general economic recovery in the U.S. The US gambling industry is expected to continue to grow in the coming years, as more states continue to legalize and regulate gambling activities.

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