US commercial gaming revenue is on track to exceed $67 billion, according to the American Gaming Association (AGA).
The Q3 figures for 2024 are the highest on record, and if Q4 goes as predicted, it will mark four consecutive years of commercial gaming revenue growth.
So far, 29% of the total revenue has come from online gaming, with both online casinos and sportsbooks showing remarkable growth.
Land-based casino numbers are down slightly, but new venues are still opening. Moreover, casino resort revenue is arguably over-performing when you consider socioeconomic factors and the expansion of the online sector.
It has not yet been confirmed that the 2024 commercial gaming revenue will surpass the $67 billion threshold required to complete the four year growth streak. However, the official figures released up to September prove that everything is very much on track.
Here are some of the key statistics gleaned from reliable legal betting news sources:
| 2024 Q3 revenue: | $17.71 billion |
| Total 2024 revenue (by the end of Q3): | $53.24 billion |
| Increase vs this point in 2023: | 8% |
| iGaming revenue: | $2.08 billion |
| iGaming revenue increase: | 30.3% |
| Sports betting revenue: | $3.24 billion |
| Sports betting revenue increase: | 42.4% |
| Combined online casino and sports betting contribution: | 29% |
| Land-based casino revenue: | $12.38 billion |
| Land-based casino revenue decrease: | -0.9% |
For Q3, the $17.71 billion total US commercial gaming revenue is a record high. Meanwhile, the $53.24 billion revenue recorded up to September 2024 shows an 8% increase on the 2023 figures at the same point.
If these numbers continue to grow as projected, 2024 will smash last year’s numbers, and complete four consecutive years of increase.
Remember that Q4 will include Thanksgiving and Christmas Day NFL, not to mention overall holiday season vacations. Recent history shows that these have greatly contributed to online sports betting and land-based casino revenue figures.
Since the overturn of PASPA in 2018, online gaming has been the main contributor to the increase in total commercial gaming revenue, a trend that has been evident over the last four years.
As the figures above show, igaming and online sports betting figures increased by 30.3% and 42.4% on last year respectively. The two combined account for 29% of the total revenue, a figure that will likely be higher when Q4 data is released.
While the online sector is booming, brick-and-mortar casinos have seen a slight 0.9% decrease overall. That being said, new venues are still opening their doors and AGA President and CEO Bill Miller has said that there is still plenty of demand for land-based outlets.
The total taxes paid by the US commercial gaming sector in Q3 totalled $3.79 billion. This is an 8.9% increase on 2023, which is fairly significant and shows how the industry can benefit budgets and public services at both local and state level.
While some have tried, no new US states have succeeded in legalizing sports betting or igaming during 2024. Despite that, there has till been a remarkable increase in revenue compared to previous years.
Even if things stay as they are, annual revenue will likely increase organically in 2025. But fresh legislative pushes for legalized sports betting in Minnesota and Mississippi could help drive the numbers up further.
In addition, AGA President and CEO Bill Miller has given us reasons to be optimistic about the land-based sector. He stated that 2024 saw a drop in the average age of casino visitors from 50 to 42, indicating that the industry is continually adapting and appealing to new demographics.
