Record Gambling Revenue Generated by US Online Casinos

Record Gambling Revenue Generated by US Online Casinos

US Online Casino Revenue Set Records

Online casino betting has never been more popular in the USA, as proven by recent record revenue figures. This is perhaps unsurprising, given new states opening up to online betting and new sites coming online all the time.

Bonuses Responsible for Increase in Players

There are many driving factors behind the record revenue that has been generated online by casinos in the USA. It’s still a relatively new market, which means even in the first states to adopt online casinos the sector has not yet hit any kind of natural ceiling. On top of that, new states are coming into the world of online casino betting. But it’s also true that US online betting has been bolstered by the general rising trend across the world. Much of this is due to great promos, and the best USA no deposit casinos mean you can gamble even if you don’t have any cash. These promotions find favor with veteran bettors too, who can use them to try out new games with zero risk, and still offer the chance of winning money.

No deposit promos are the casino world’s answer to arbitrage in sports betting. While no deposit deals don’t guarantee winning, they do ensure no loss can ever occur and are the safest way to bet at a casino.

The Varying Approach of the States

Betting legislation is determined at the state level, which means different parts of the USA have drastically different betting opportunities (and revenues). More than half the states have either legalized online betting or are in the process of completing the necessary legal steps to do so. It is worth noting that online sports betting is easier to access than online casino betting, which remains somewhat more geographically restricted (for the time being, at least).

States that have permitted online casino betting include New Jersey (the largest market), Pennsylvania (which legalized online gambling in 2017), and Delaware (the first state to legalize online poker and casinos). At the other end of the scale, we find the likes of Utah and Hawaii which permit no online casino betting (and even sports betting is totally forbidden). What this means in terms of revenue is that while the overall trend online is very much upward, this is far from evenly spread, with $1.5bn generated in online casinos within New Jersey alone since they were legalized in 2013 and $0 revenue for Utah/Hawaii. Whether the substantial potential revenue will sway minds in these two states remains far from certain, but for states that are permitting online casino betting this shifts revenue out of overseas or underworld organizations and into the hands of state coffers.

Record Gambling Revenue in 2021

The betting industry in the USA was hit hard by the COVID-19 pandemic. Real-world casinos were faced with a perfect storm, as the activity is entirely optional, usually involves larges numbers of people close together, and chips and money changing hands. In the online realm, however, things were unaffected by the pandemic, and even benefited as players who prefer to play in person opted for the safety of internet casinos instead.

However, 2021 has seen the industry as a whole turn a corner, with a record revenue in the USA of $53bn recorded by America’s commercial casinos in 2021 (according to the American Gaming Association). This is 21% up on the previous high of 2019 (before the rise of COVID-19 saw things drop off). Interestingly, online casinos in the US continue to lag behind their brick-and-mortar counterparts, although online betting at both casinos and sportsbooks continues to rise.

Of the $53bn, almost $45bn came from people playing at real-world casinos. The total sports betting and internet gambling revenue in 2021 was $8bn, up 158% from the previous year.

The Biggest States

While some states (such as Utah) are very much opposed to online betting, most have opened up to it, and one of the most lucrative markets is that of New Jersey. This state’s online casino and poker market alone in July 2021 exceeded $118m in revenue, making it the biggest in the country.

Another big beast in the betting jungle of the USA is the state of Pennsylvania, which is the fastest-growing market. After Nevada (home to the bright lights of Las Vegas), Pennsylvania is the second-biggest state in terms of overall gambling, with revenues of $3,226.92m. In December of 2020, Pennsylvania’s online casino revenue broke through the $70m barrier for the first time, and the same month saw New Jersey get close to $100m. Since then, Pennsylvania’s revenue has been around the $88m per month mark for online casino revenue, putting it second only to New Jersey. Third stands Michigan, which (in July 2021) recorded iGaming revenue of $83m.

Altogether, the top three states generated online casino revenues of over $1.5bn in the first half of 2021. The strength and confidence in the potential future growth of online casinos in these leading states is exemplified by the acquisition of Golden Nugget Casino by DraftKings in a 2021 deal worth $1.56bn.

Mobile Betting on the Rise

Smartphones are owned by roughly eight out of 10 people, and this means a huge market for mobile gaming. With the latest slots and table games all designed from the ground up to be compatible with mobile devices, it’s never been easier to game on the go, and the US market has not yet reached its full potential in this area. On a related note, it’s estimated half of the US population will be betting on sports via mobile in 2022.

While revenues of online USA casinos have recently hit a record high, this should not be seen as the ultimate peak, and it’s highly likely new records will be set very soon indeed.