Online casino gaming and sports wagering propelled the United States commercial gambling sector to a record peak in 2024.
The American Gaming Association (AGA) announced on Wednesday that gamblers and bettors incurred greater losses in 2024 than in any previous year. The revenue from commercial gaming reached over $71.9 billion, reflecting a 7.5% rise compared to the previous year.
2024 represented the fourth consecutive year of record revenue. Although the COVID-19 pandemic was first recognized for the extraordinary growth, fueled by pent-up demand and Americans witnessing their bank accounts swell due to government stimulus, iGaming and the ongoing expansion of legal sports betting have sustained the momentum in recent years.
The AGA annual report reveals that although traditional gambling, or the gross gaming revenue (GGR) from physical casinos, grew by under 1%, sports betting and iGaming winnings grew by 25.4% and 28.7% respectively in comparison to 2023.
"In 2024, Americans embraced the diverse legal gaming options available to them — whether in casinos, at sportsbooks, or online — leading to another record-setting year for our industry,” said AGA President and CEO Bill Miller. “As we build on this success, the AGA remains committed to fostering additional growth that benefits consumers, operators, and communities alike.”
The AGA report summed up total earnings from commercial casinos, retail and online sports wagering, and iGaming. Revenue from tribal gaming operations was excluded, as was lottery gaming.
Legal gambling is more prevalent in the US than it has been in the past. A total of 27 states feature commercial casinos, while 39 states along with Washington, DC permit legal sports wagering, and seven states allow legal iGaming that includes online slots and interactive table games.
The numerous gaming choices resulted in unprecedented revenue for the commercial gaming sector, which consequently generated record tax income for state and local authorities. The AGA projects that commercial gaming operators contributed nearly $16 billion in taxes in 2024.
“Commercial gaming continues to demonstrate unprecedented success,” Miller added. “Much of this growth has been driven by the continued expansion in online gaming and sports betting.”
Miller asserted that, despite falling far behind in year-over-year growth within iGaming and sports betting, the condition of legacy gaming is still robust.
"Traditional brick-and-mortar operations have shown their resilience against macroeconomic headwinds, particularly in Las Vegas, which has experienced months of softer revenue in late 2024 compared to the previous year’s highs,” Miller explained.
The leading gaming lobbyist in the nation ended by stating that the 2024 figures indicate that the industry is still receiving “increasing public support.”
Unlawful and, consequently, unregulated online gambling sites are a major concern for the AGA, which persistently urges federal and state law enforcement bodies to take action against these internet operations.
A rising danger to the regulated iGaming market is contentious “sweepstakes” platforms, which advertise themselves as social gaming venues. Critics, nonetheless, argue that they represent unlawful gambling. The AGA contends that unregulated skill games pose a risk to physical casinos. The slot-type devices are common across various states, such as Pennsylvania, Missouri, Texas, Illinois, and Wyoming.
“[Unregulated gaming] builds nothing of lasting economic value and undermines both the industry’s integrity and the community’s well-being,” Miller declared.
New Players Only. Minimum stake $/€/£ 10, minimum odds1.5, stake not returned.1X wagering the winnings from the free bet. Wagering occurs from real balance first. Wagering requirement is calculated on bonus bets only, wagering starts from real funds. Free bet is valid for 7 Days from issue. Max conversion: $/€/£ 200. Excluded Skrill deposits. Withdrawal requests voids all active/pending bonuses.
