The commercial gaming industry keeps setting records as more states continue to legalize sports betting.
The American Gaming Association reports that Q2 2022 saw the industry accumulate $14.8 billion in revenue — a new quarterly record.
The figure — which encompasses all forms of legal gambling — represents a 3.3% increase over the previous record (Q4 2021) and an 8.8% increase year-over-year.
Sports betting was a big factor in the increased numbers.
- With six new markets in the mix, that sector of the industry saw a 58.7% increase in revenue year-over-year.
- The legal betting handle was $18.7B for the quarter — a 69% increase from the year before.
- The $3.04B in sports betting revenue halfway through 2022 is pacing 63.9% ahead of 2021.
The momentum is likely to continue through the rest of the year and beyond — especially as college football and NFL get underway.
Earlier this month, Massachusetts became the latest state to legalize sports betting. It plans to start taking bets by football season.
