2023 Ends with Record $66.5 Billion in Revenue For U.S. Commercial Gaming

The U.S. commercial gaming industry had a record-breaking year in 2023, thanks to the growing popularity of online betting and gaming sites, as well as the expansion into new markets nationwide.

A recent report from the American Gaming Association revealed that 2023 was a highly successful year, with a total revenue of $66.5 billion. This marked a significant 10% increase from the previous record of $60.5 billion in 2022. Additionally, 2023 became the third consecutive year in which the AGA reported record-breaking revenues.

AGA President and CEO Bill Miller stated that the demand for gaming among American adults is currently at its peak, transitioning from traditional casinos to online platforms. He emphasized the importance of industry collaboration in fighting against illegal operators and promoting responsible gambling practices to sustain this momentum alongside the expansion of the legal market.

More on the numbers

The earnings from sports betting, iGaming, and traditional casino gaming, with a major contribution from top sportsbooks, are used to support online platforms and physical casinos.

The fourth quarter of the AGA’s fiscal year stood out as a major highlight in the Association’s 2023 report on betting activity in the U.S., particularly in relation to the top sports betting apps. A record-breaking $17.4 billion in revenue was generated during this period, with December alone accounting for $6.2 billion. This significant growth underscores the momentum of the gaming industry in America.

The sports betting industry factor

Sports betting accounted for $10.9 billion of the total $66.5 billion revenue, showing a significant 44.5% increase compared to the previous year. The total national sports betting handle for 2023 reached $119.8 billion, a 27.8% rise from the previous year.

The American Gaming Association reported a record $3.4 billion in gross revenue for the U.S. sports betting industry in the last quarter of the fiscal year, showing a 30.8% increase compared to Q4 of 2022.

The sports betting industry saw a significant boost in 2023 with the official launch of legal sports betting in states such as Massachusetts and Ohio. These states quickly climbed the ranks to become some of the top-six most successful legal sports betting jurisdictions in the U.S. Meanwhile, states like New York, New Jersey, and Illinois continued to thrive, each experiencing record-breaking years with no signs of slowing down.

As of now, the North Carolina sports betting launch is the only significant state event in sight. The three most populous states in the US- California, Florida, and Texas- are still years away from establishing their own legal sports betting platforms.

Editor’s reminder: Don’t forget that North Carolina sports betting will begin on March 11. Make sure to explore our top North Carolina sports betting apps and promotions. Must be 21 or older and located within North Carolina. If you have a gambling problem, please call 1-800-GAMBLER.

Casinos hold their own

Casinos showed strong performance in 2023 in terms of growth and revenue numbers. The AGA report revealed that the online casino sector, operating legally in only six states in the US, accounted for $6.2 billion in revenue, representing approximately 10% of the industry’s total earnings. This marked a 23% increase compared to the previous year.

Traditional casinos saw a 3.3% rise in revenues compared to the previous year, reaching a peak of $49.5 billion. The slot machines contributed a record-breaking $35.5 billion to this total.