Most gamblers know the saying, "The house always wins." Well, it may not always win, but the odds definitely appear to be in its favor.
The American Gaming Association revealed that traditional U.S. casinos and online casinos combined for $66.5 billion in revenue last year. That's a 10% increase from the year before.
“From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” said AGA President and CEO Bill Miller.
Gaming has taken on a very different look over the past decade with the expansion of online gaming and sports betting.
Online gaming now makes up nearly 25% of gaming revenue in the U.S., according to the American Gaming Association.
Sports betting, which is legal in more than two dozen states, brought in more than $119 million in 2023, a 27% increase.
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While people no longer have to travel to Las Vegas or Atlantic City to gamble, it appears those places are still extremely popular for gamblers. Las Vegas was the top-grossing gambling market, followed by New Jersey and Chicagoland (comprising Chicago and northwest Indiana).
In addition to casinos bringing in record revenue, local governments are winning as well. The Gaming Association reports that the industry paid an all-time high of $14.4 billion in state and local taxes in 2023.
“We are proud to be in 47 U.S. jurisdictions, acting as economic drivers, creating jobs and providing the funding that makes critical public education programs, infrastructure projects, problem gambling resources and more possible," Miller said.
There are obvious downsides to gambling, including addiction.
The National Council on Problem Gambling estimates that 2 million adults in the U.S. meet the criteria for a severe gambling problem in a given year. They can seek help by calling the organization's hotline at 1-800-GAMBLER.
