US Gambling Revenue To Break $44 Billion In 2021
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There is no doubt that during the pandemic over the past 18 months, many people have resorted to gambling as their form of leisure and entertainment. Recent reports from the American Association have concluded that the US is the region that has tallied up the largest gambling revenue in the world since previous highest records back in 2019. The US has become the highest-grossing gambling year in all of history. With $41 billion in 2020 alone, the US is projected to surpass the $43.6 billion projections originally made for the end of the quarter last year.
Many believe that the increased marketing promotions navigated towards betting offers and online gambling schemes have led to increased betting activity, lockdown has undoubtedly made many more people spend much more time at home than usual. This would naturally increase the gambling attention spans of even the most casual gambler, and convert further engagement to gamble online.
The CEO of the American Gaming Association commented to Forbes recently, saying that he believed the gambling industry is massively on its way back within the US, and that many should look towards seeing the US breaking even more records as the year's progress. Many statistics have shown the US to continuously be leaning towards the most engaged nation in the world when it comes to gambling, and the ease of gambling restrictions across multiple states is fast proving that more than ever. Every state legally able to gamble up until now has surpassed last year's gambling figures, meaning the trend is certainly a correlating one.
Nevada alone saw the largest revenue return, with a $3.64 billion take in just the second quarter of the year alone. This is a staggering 17% increase than that of 2019 figures. Pennsylvania was the second largest revenue take in, with $1.21 billion and a 44.6% increase from collective 2019 records. The third was expectedly New Jersey, which continuously keep on breaking records year after year, having only been legalised to bet freely since 2019. They were up by 35.5% and saw $1.1 billion in total come in through their gambling regulated channels and betting houses.
Nevada really saw such a large increase in gambling, within just four months alone. In fact, according to the Gambling Control Board, they collectively made $1.2 billion within the month of June alone, which has never been achieved by any state in just a month's time frame. Better yet that was a 14.6% increase from the June of 2019, pre-pandemic. It is massively shocking to see an industry boom in its peak, all the more while other industries fall and fail during such a joint economic crisis'.
Despite Vegas needing recuperation within the world of business and tourism, American gamblers are very much still utilising the facilities that Sin City has to offer to national locals. This is what has allowed Nevada to stay more than afloat during this time. While there has been an overall increase within Sin City, certain months did show a decrease from previous quarters across different years, and this all comes down to dependence on seasonal tourism. Should tourism have been allowed during the time of the pandemic, maybe the figures would have told a different story altogether.
According to reports on the tourism industry, Vegas has the potential to recover bigger and better than it ever has before by 2023, should it remain consistently in the same way, in terms of gambling revenue. This is a year earlier than anticipated from last year's tourism and industry reports.
A homage to mobile gambling
There is no doubt that without mobile gaming and gambling technology, gambling revenue would not have been possible with the same figures that are currently being reported. The iGaming mobile industry is currently at its peak and is the reason why the gambling industry has been allowed to stay afloat and really surpass all expectations. The recovery of the gambling industry only took one quarter to really take off again, and in fact, traditional casino games have all seen an uptake in engagement by 12%, which is more than they have ever been interacted with before previously, within traditional land-based settings. For example, the revenue of slot gaming has surged by 16% from 2019. This is primarily due to the increased technological advancements and releases to the slot gaming market, that were made available by highly prestigious software developers.
We are not currently in the age of digital gambling, and the pandemic has brought light to the most obvious of tendencies- digitalisation of all entertainment features beyond the gambling sector, is the only way of staying relevant and self-sufficient. The data of online gambling versus land-based gambling is certainly proof of just that.
(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)
