The American gaming sector is thriving, establishing consecutive quarterly revenue milestones! The sector amassed an impressive $15.17 billion during the third quarter of this year, reflecting a 2% surge from the corresponding period last year. This accomplishment also signifies that the industry eclipsed the previous benchmark of $14.81 billion, set just the prior quarter.
As per the American Gaming Association (AGA), 2022 is poised to be the most financially successful year to date for the US gaming sector. With the year not yet concluded, revenue generated within the initial nine months has already climbed by nearly 15% compared to the equivalent timeframe last year.
Bill Miller, the President and CEO of the AGA, expressed understandable satisfaction with these outcomes. He highlighted that despite encountering certain challenges, the industry’s achievements are fueled by robust consumer interest. He maintains an optimistic outlook for the future, asserting that this sustained expansion, even amidst broader economic uncertainties, underscores the current strength of the gaming industry.
A particularly noteworthy insight from this report is the record-shattering quarter experienced by sports wagering. It generated a remarkable $1.68 billion, marking an 80% leap compared to the parallel period last year! This surge is not entirely unexpected, given the increasing number of states embracing and legalizing sports betting. Over the past nine months alone, multiple states, including Kansas, have introduced legal sports betting. Ohio is scheduled to follow suit on January 1st, 2023, with Maryland closely trailing behind, aiming for a launch within the final quarter of this year. Massachusetts also recently granted approval for legal sports betting, with aspirations to commence operations sometime in 2023.
The internet gambling arena is a complete free-for-all currently, with fresh platforms appearing constantly. Every site is attempting to surpass the competition with wild promotions and offers to entice new users.
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