US Gambling Profits Reached a Record $72 Billion in 2024

According to the agency, total commercial revenue soared to an impressive $72 billion, marking a 7.6% increase compared to the previous year. This significant uplift underscores the sector's growing strength and continued upward trajectory.

Key Facts and Figures from the Report

Industry analysts attribute the strong financial success to the accelerated expansion of the regulated sports betting and iGaming sectors. Out of 38 states with active RMG segments, 28 achieved record-breaking results.

Additionally, tax revenues totalled a whopping $15.9 billion, marking an 8.5% year-on-year increase and reinforcing the gambling sphere's economic significance.

Now, let us examine the key verticals highlighted in the report:

Offline Gambling

Brick-and-mortar casinos generated commercial revenue of $49.89 billion, reflecting an approximate 1% increase across the nation's 492 land-based gambling venues. However, the income from the Las Vegas Strip declined in March, with profits dropping by 5% year-on-year for the month.

In general, the US’s offline gaming sector continues to be one of the most sustainable, contributing a substantial part of the profits to the local treasury.

Sports Betting

Bookmakers' earnings soared by 25%, reaching $13.78 billion. This growth was primarily fueled by the launch of 2 new hubs in Vermont and North Carolina. The constant emergence of new industry participants has resulted in a nationwide handle of $149.9 billion.

Online Gaming

The digital entertainment sector experienced remarkable growth, registering a 28.7% increase in profits and reaching $8.4 billion across 7 states. Rhode Island, the last jurisdiction to join this pool, debuted in 2024 and has already contributed an impressive $26 million to the total. In March, all the regions with regulated online gambling achieved new monthly revenue records.

Although overall performance remains robust across all verticals, the AGA’s Gaming Conditions Index fell by 0.9% in Q1 2025, representing the most notable decline since the onset of COVID-19.

The primary factors contributing to this decrease are:

• lower real salaries of the population, affecting consumer spending power;
• slightly negative attitude to gambling, influencing market confidence;
• sluggish profit growth, limiting overall sector momentum.

Projections from Experts Regarding Market Potential

The Association recently surveyed 28 senior industry executives to evaluate the current business climate for gambling enterprises.

Findings indicate that:

• 36% of respondents perceive the market conditions negatively;
• 18% view the environment as favourable for growth.

The overall Q1 2025 index stood at -5.6%, reflecting a predominantly pessimistic outlook among the sphere’s representatives.

Despite the current situation, the long-term perspective appears more optimistic:

• 80% of respondents hold a neutral outlook on future industry conditions;
• 14% maintain a positive stance, expecting improvement;
• 4% express continued pessimism about the sector’s trajectory.

Members of the AGA noted that whilst senior industry representatives are optimistic about further investment, there are increasing concerns regarding the pace of hiring and salary growth. Although there remains ongoing controversy and scepticism surrounding significant changes in regulatory and taxation policies, the outlook for future player activity has become more positive.

Specialists suggest that caution and restraint are temporary trends. The sector’s participants should anticipate an imminent expansion of digital channels, along with increased investment across all RMG niches.

Gaminator’s professionals deliver in-depth insights into the key jurisdictions worldwide, equipping entrepreneurs with extensive market knowledge. Furthermore, we assist operators in establishing successful casino and sports betting enterprises, ensuring a solid foundation for long-term growth.