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Saturday, May 25, 2024

Sports Betting Helps U.S. Casinos Reach Record Revenue

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Kirby Lee, USA TODAY/Design: Alex Brooks

U.S. casinos overall had their best quarter ever in Q3, winning nearly $14 billion, per the American Gaming Association. Ten out of 25 states with commercial casinos also hit revenue records for the quarter.

Sports betting and internet gambling revenue combined increased more than 200% year-over-year for the first nine months of 2021, reaching $5.36 billion.

Nevada, New York, New Jersey, and Pennsylvania are the four highest-grossing commercial gambling states.

  • Nevada, which has had legal gambling for decades, recorded $54.2 million in sports betting revenue in September.
  • Pennsylvania recorded more than $48.1 million in sports betting revenue the same month.
  • New Jersey saw $82.4 million in sports betting revenue in October.

New York recently approved two groups — which include DraftKings and FanDuel — for the state’s online sports betting license.

This year’s winnings for the U.S. casino industry are on pace to break the annual record of $43.65 billion set in 2019.

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