Commercial casinos in the United States just had their most significant revenue year, with $66.5 billion. According to the American Gaming Association (AGA), 2023 showed a 10% boost compared to 2022, a record revenue year for US casinos.
In the US, commercial and tribal casinos operate separately and report their earnings at different times. When revenue reports from the Tribal casinos come in, the AGA expects total revenue to surpass $110 billion.
Bill Miller, the AGA’s president and CEO, stated, “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high.” Miller said, “inflation was high, uncertainty was in the air. Forecasters couldn’t agree on what these challenges might do to discretionary income. The result was a record-breaking year for our industry.”
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, believes sports betting is still new enough to prove attractive to some bettors. With a relatively low cost of entry, both in-person and online sports betting can be alluring to novel sports fans looking to wager on their favorite teams.
Five new sports betting states, Kentucky, Maine, Massachusetts, Nebraska, and Ohio, began operating in 2023. Together, they contributed an additional $1.49 billion in revenue.
Online Casinos In The United States
In the US, online casinos can operate legally either by state or by a lack of federal laws. Only seven states have authorized their licensed casinos to operate online. Other states have not passed any online casino laws allowing offshore casino sites to accept players from the US.
Online casinos have been operating in the US since the late 1990s, and while they don’t contribute to total revenue, states are starting to notice and take action to obtain their player pools. Recently, some states have sent cease-and-desist letters to online casinos that accept their players. For the most part, only states that offer online casinos are trying to block their competitors.
US players have long sought the fastest-paying online casinos for their numerous banking options, reward programs, and gaming options. Today, offshore casinos are the most widely accessible in the states as there are no geo-fencing restrictions and 24/7 customer service. Online casinos from outside the states are here to stay until federal laws are revisited.
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