Another Record Month for US Gambling
It was a banner year for the US gambling industry in 2022. That momentum appears to have carried over in the first month of 2023, as yet another record was set for revenue in a single month. Our friends at the American Gaming Association keep track of these sorts of things, and they report a combined $5.5 billion brought in this past January.
These numbers show a year on year growth of over 21% and maintains the streak of 23 months of growth in a row. The continued growth of US gambling was apparent across all verticals in January, with revenue from sports betting reaching over $1 billion for the first time. That said, money from land based slot machines and table games was able to generated nearly $4 billion. And while online gambling is still growing in America, it managed to contribute over $480 million.
At the state level, 31 of 33 jurisdictions that were operational one year ago and had reported at the time of writing posted revenue growth in January. Sports betting activity across the country also witnessed a significant up tick of nearly 11% from the year before. The total amount of money bet on sports in January reached an all-time high of $10.9 billion.
Those sports betting numbers for January of this year were helped by the fact that there were 29 sports betting markets running and generating revenue this year, while there were just 26 in operation last year. Kansas, Ohio, and Maryland all began offering mobile sports bets in 2022, which helped to boost US gambling numbers this year.