The record for the most money won in brick and mortar and online casinos stands at $44 billion as of October 2021.
These reports put the American gambling industry at the peak of business compared to previous years.
In 2019, casinos reached a high of $43.65 billion.
Although this record does not include tribal casinos, different states testify of the growing gambling industry. Luckily, the rise of the pandemic has not shattered the casino industry.
Over 2019 and 2020, many individuals had to look for hobbies, and online and in-house gaming was most attractive.
New aspects of gaming, such as sports betting, have also significantly contributed towards $7.05 billion in 25 states in October 2021. Compared to 2020, these figures portray a doubling in the amount wagered. At the time, 17 markets were operating.
Despite the pandemic plunging many industries into recession, iGaming has stood the test of time as gamers play their way through these unpredictable times.
When weighed alongside previous years, 2021 records numbers never seen before.
iGaming has hit an all-time high, with the US topping the list of countries that gamble most.
As a result, many states now legalize betting online, leading to bigger and better online casinos.
Online casino presence continues to propel the industry forward, translating to billions of dollars in revenue. Additionally, Americans now have a new mindset about gaming in general. People no longer regard gaming as illegal and destructive.
With many people stuck indoors, iGaming became a very enticing form of entertainment.
Moreover, land-based casinos resorted to establishing online gaming platforms. The strict shutdown of their venues forced versatility. On top of that, mobile gaming is the in thing.
You can now access your favorite casino anywhere anytime if you have a smartphone with Android, iOS, Windows systems, and internet connectivity.
Reports indicate that the gambling industry has experienced a 30.7% increase in monthly revenue this year. This gain is the highest ever profit made in the United States.
By October 2021, the combined income from in-house gaming, sports betting, and online gambling was $4.75 billion.
The sudden surge in income attracts investors by the day. Multiple reliable sources predict that the iGaming and sports market value in the United States will shoot up.
The market will be worth a whopping $15 billion by 2025 and $30 billion, or more by 2030.
This prediction is solely based on 2021 statistics thus far. Despite the current economic plunge, the exponential growth of online gaming proves that iGaming is here to stay.
The US casino industry will most likely cross the $44 billion mark as the year ends. More states will also put in their financial reports for October, November and December.
If it is anything to go by, monthly gambling revenue has surpassed $4 billion for eight months without wavering. Previous years’ revenues never went above $4 billion.
It goes on record to show that the progress made in the casino industry in 2021 can only get better as time progresses.
Samantha has a passion for all things casino, especially for the development in new slots games and technology. She has a background in psychology and loves to study strategies behind gambling in her spare time.
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