From Nevada's glittering Strip to the booming digital sportsbooks in your pocket, the U.S. gambling industry shattered records in 2023, generating a staggering $66.5 billion in revenue and fundamentally reshaping American entertainment.
Key Takeaways
- In 2023, the US commercial gaming industry generated a record $66.5 billion in revenue, marking a 10% increase from 2022
- Nevada's gaming revenue reached $15.6 billion in fiscal year 2023, with Las Vegas Strip contributing $11.2 billion
- US sports betting handle exceeded $119 billion in 2023, up 27.6% year-over-year
- 64% of US adults gambled in the past year according to 2023 National Gambling Survey
- 49 million Americans participated in sports betting in 2023
- Online gambling participation rose to 20% of US adults in 2023 from 15% in 2021
- 2023 saw 81.9 million sports bets placed via legal channels
- NFL drives 35% of all US sports betting volume
- Post-PASPA, 38 states now offer legal sports betting as of 2024
- Online slots generated $4.2 billion in US iGaming revenue in 2023
- New Jersey leads iGaming states with $1.8 billion revenue in 2023
- Pennsylvania iGaming revenue reached $1.9 billion in 2023
- Las Vegas has 140+ casinos with 100,000+ slots and tables
- Nevada commercial casinos numbered 191 in 2023 generating $11.2B Strip revenue
- Tribal casinos operate in 29 states with 500+ facilities
The US gambling industry shattered revenue records in 2023 with rapid nationwide growth.
Casinos and Land-based
- Las Vegas has 140+ casinos with 100,000+ slots and tables
- Nevada commercial casinos numbered 191 in 2023 generating $11.2B Strip revenue
- Tribal casinos operate in 29 states with 500+ facilities
- Atlantic City has 9 casinos producing $2.8B gaming revenue 2023
- Pennsylvania has 16 casinos with $3.9B slots/tables revenue 2023
- Mississippi 26 casinos earned $2.0B from slots in 2023
- Detroit three casinos generated $1.6B revenue in 2023
- Oklahoma 140+ tribal casinos dominate regional market
- Florida tribal casinos like Seminole Hard Rock gross $3B+ annually
- Illinois 10 riverside casinos $2.1B revenue 2023
- Average US casino has 1,500 slots and 50 table games
- Las Vegas table games win rate 15.2% in 2023
- 40% of casino revenue from high-limit slots
- Biloxi Gulf Coast casinos top non-NV with $1.2B revenue
- Missouri 13 casinos $1.1B slots revenue 2023
- Indiana 13 casinos/table facilities $2.1B total 2023
- Louisiana 15 riverboats $1.7B gaming win 2023
- Ohio 11 casinos/racinos $1.8B revenue 2023
- New Mexico 20 tribal casinos strong poker rooms
- Washington state 30+ tribal casinos no commercial
Casinos and Land-based Interpretation
It seems America's real national pastime is quietly funding itself, one relentless nickel slot and overconfident blackjack hand at a time, from coast to coast.
Consumer Participation
- 64% of US adults gambled in the past year according to 2023 National Gambling Survey
- 49 million Americans participated in sports betting in 2023
- Online gambling participation rose to 20% of US adults in 2023 from 15% in 2021
- Men aged 18-34 represent 40% of sports bettors in the US
- 18% of Americans used online sportsbooks in the past 12 months per 2023 AGA survey
- Lottery is the most popular form of gambling with 47% participation rate among US adults
- 23% of US adults visited a casino in the past year in 2023
- Sports betting participation among millennials reached 47% in 2023
- 12% of Americans engaged in daily fantasy sports in 2023
- Women comprise 45% of online gamblers in the US as of 2023
- 76 million Americans are estimated sports bettors since PASPA repeal in 2018
- Hispanic Americans have a 55% gambling participation rate, highest among ethnic groups
- 30% of Gen Z Americans placed a sports bet in 2023
- Average American gambler spends $500 annually on lotteries
- 15% of US adults played poker online or in casinos in past year 2023
- Baby boomers (55+) have 25% casino visitation rate
- 8% of Americans participated in horse race betting in 2023
- Online slots participation among US adults is 10% in 2023
- 62% of gamblers prefer mobile apps for betting
- African Americans show 52% gambling participation rate per 2023 survey
- 35% of US sports fans bet on games weekly
- Average age of US gamblers is 45 years old
- 22% of college students gamble online regularly
- Binge gambling episodes reported by 5% of US adults annually
- 41% of high-income households ($100k+) gamble vs 30% low-income
- Nevada attracts 42 million visitors annually, 70% gamble
- 14% of US adults use casino apps without real money play
- Sports betting most popular among urban residents at 25% participation
Consumer Participation Interpretation
While the lottery remains America's favored flutter, the nation's betting habits reveal a digital, diverse, and disturbingly engaged new normal where nearly two-thirds of adults placed a wager, a mobile-obsessed surge led by young men betting on sports and propped up by everyone else from boomers at the slots to a rising tide of women online.
Online and iGaming
- Online slots generated $4.2 billion in US iGaming revenue in 2023
- New Jersey leads iGaming states with $1.8 billion revenue in 2023
- Pennsylvania iGaming revenue reached $1.9 billion in 2023
- Michigan iGaming GGR was $1.9 billion in 2023
- West Virginia online casino revenue $900 million since 2019 launch
- Connecticut iGaming revenue $250 million in first full year 2023
- Delaware iGaming table games dominate with 60% revenue share
- Rhode Island iGaming launched 2024 with projections $100 million annual
- 85% of iGaming players use mobile devices exclusively
- Online poker revenue in US totaled $450 million in 2023 across legal states
- Blackjack is the top online table game with 35% player preference
- RTP for US online slots averages 96%
- 12 million active iGaming accounts in US as of 2023
- Live dealer games revenue up 50% to $300 million in 2023
- BetMGM leads iGaming operators with 25% market share
- DraftKings Casino holds 20% share in multi-state iGaming
- FanDuel online casino revenue $1.2 billion in 2023
- Crypto gambling sites attract 5% of US online players
- Average iGamer session length is 45 minutes daily
- US iGaming projected to reach $15 billion by 2028
- Slots contribute 70% of total iGaming revenue
- 40 states allow online lottery sales with $10 billion handle
- Problem gambling helpline calls up 30% post-iGaming expansion
- Nevada approved iGaming regulations in 2024 for future launch
- Illinois iGaming bill proposed with $2 billion revenue projection
- 28% of online gamblers play slots exclusively
- US iGaming ad spend reached $500 million in 2023
Online and iGaming Interpretation
It seems America’s appetite for online slots is so voracious that while state coffers are ringing with billions, the only thing outpacing the revenue is the growing number of calls to problem gambling helplines.
Revenue and Market Size
- In 2023, the US commercial gaming industry generated a record $66.5 billion in revenue, marking a 10% increase from 2022
- Nevada's gaming revenue reached $15.6 billion in fiscal year 2023, with Las Vegas Strip contributing $11.2 billion
- US sports betting handle exceeded $119 billion in 2023, up 27.6% year-over-year
- Commercial casino gaming revenue hit $53.7 billion in 2019 pre-pandemic peak
- New Jersey iGaming revenue topped $1.6 billion in 2023
- US tribal gaming revenue was $39.4 billion in 2022
- Pennsylvania gaming revenue reached $5.7 billion in fiscal 2023
- Michigan online gaming and sports betting generated $2.3 billion in revenue in 2023
- The US gambling market is projected to grow to $104.44 billion by 2028 at a CAGR of 10.2%
- Las Vegas Strip casinos reported $8.85 billion in gaming revenue for 2023
- US iGaming gross gaming revenue grew 24% to $5.02 billion in 2023
- Illinois sports betting revenue hit $2.3 billion in fiscal 2023
- Total US gaming taxes paid by industry reached $14.3 billion in 2023
- Indiana casino revenue was $2.16 billion in 2023
- Ohio launched sports betting with $1.1 billion handle in first month December 2022
- US lottery sales totaled $112.4 billion in fiscal 2023
- Maryland mobile betting generated $248 million in tax revenue since launch in 2021
- Atlantic City casinos grossed $2.8 billion in gaming revenue in 2023
- Colorado sports betting handle surpassed $5 billion in 2023
- Mississippi gaming revenue was $2.5 billion in fiscal 2023
- US parimutuel wagering handle was $11.7 billion in 2022
- Louisiana riverboat casinos earned $1.9 billion in 2023
- West Virginia iGaming revenue reached $150 million in 2023
- Rhode Island sports betting revenue was $138.7 million in fiscal 2023
- Delaware online gaming revenue hit $155 million in 2023
- Connecticut iGaming and sports betting generated $450 million in first year 2021-2022
- New York sports betting handle exceeded $16 billion in first nine months post-launch 2022
- Iowa gaming revenue was $1.6 billion in fiscal 2023
- Kansas sports betting launched with $100 million handle in first month September 2022
Revenue and Market Size Interpretation
America’s long-standing love affair with betting has evolved into a full-blown, multi-billion dollar marriage, complete with a sportsbook for a ring and state budgets as the happily (and dependently) wedded.
Sports Betting
- 2023 saw 81.9 million sports bets placed via legal channels
- NFL drives 35% of all US sports betting volume
- Post-PASPA, 38 states now offer legal sports betting as of 2024
- Average sports bet size increased to $50 in 2023 from $35 in 2021
- NBA betting handle represents 20% of total sports wagering
- 67% of legal sports bets placed online/mobile in 2023
- Super Bowl betting handle hit $7.6 billion in 2024
- College football betting peaks at 25% of annual handle
- Live/in-play betting accounts for 50% of sports betting volume
- MLB baseball wagering generates $4 billion annually
- 26% hold percentage for sportsbooks in 2023
- NHL hockey betting rising 15% YoY to $1.2 billion handle
- Prop bets surged 300% since 2018 legalization wave
- DraftKings holds 35% market share in US sports betting
- FanDuel commands 42% of online sports betting market
- Golf betting handle up 40% to $1 billion in 2023
- UFC/MMA wagering reached $800 million in 2023
- Esports betting in US grew to $500 million handle
- Tennis betting popular among women bettors at 15% participation
- Soccer (MLS/EPL) betting handle $2.5 billion annually
- Auto racing (NASCAR/F1) generates $600 million in bets
- Problem gambling rate among sports bettors is 3.5%
- New York leads states with $2 billion sports betting revenue 2023
- Parlays account for 25% of all sports wagers placed
- US online sports betting market valued at $37 billion in 2023
Sports Betting Interpretation
The NFL might be driving the bus, but with prop bets soaring, parlay wagers multiplying, and Americans now legally tossing $50 average bets across 38 states, it's clear that the post-PASPA gold rush has turned the sportsbook into the nation's most high-stakes, statistic-driven, and alarmingly profitable arena.
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