{"id":12822,"date":"2022-11-11T11:43:09","date_gmt":"2022-11-11T11:43:09","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=12822"},"modified":"2022-11-11T11:43:09","modified_gmt":"2022-11-11T11:43:09","slug":"united-states-gaming-revenue-hits-record-15-billion-in-third-quarter-despite-inflation","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/united-states-gaming-revenue-hits-record-15-billion-in-third-quarter-despite-inflation\/","title":{"rendered":"U.S. Gaming Revenue Hits Record $15bn In Q3 Despite Inflation"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2022\/11\/united-states-gambling-revenue.jpg\" alt=\"United States Gambling Revenue\" title=\"US Gaming Revenue Hits Record $15bn In Q3 Despite Inflation\" width=\"300\" class=\"alignleft size-full wp-image-12823\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>Casinos across the U.S. reported $15.17 billion in revenue in the third quarter of 2022<\/li>\n<li>The record figure comes amid ongoing economic challenges<\/li>\n<li>The AGA said the continued year-over-year growth is a positive sign for the industry<\/li>\n<\/ul>\n<p>More Americans are turning to gambling amid the ongoing inflation. <\/p>\n<p>This is reflected in the latest numbers released on November 9, 2022 by the <a href=\"https:\/\/www.americangaming.org\/wp-content\/uploads\/2022\/11\/CGRT_Q3_2022_Report31.pdf\"><strong>American Gaming Association<\/strong><\/a> (AGA) which showed that commercial casinos across the country <strong>generated more than $15 billion in revenue during Q3 of 2022<\/strong>. <\/p>\n<p>That&#8217;s another record figure for the industry which in the last quarter won $14.81 billion from gamblers.<\/p>\n<h2>Inflation Pushing More Americans to Gamble<\/h2>\n<p><a href=\"https:\/\/www.legitgambling.com\/us\/legal-us-online-casino-sites\">Casinos<\/a> are continuing to enjoy year-over-year growth amid uncertain times, when people are dealing with higher costs of living. This goes to show that people remain willing to lay their money down at casinos with the ongoing economic challenges further boosting their appetite to gamble, according to <strong>David Schwartz<\/strong>, gaming historian and instructor at the University of Nevada Las Vegas (UNLV).   <\/p>\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/yjEmkUetIms?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>\n<p>&nbsp;<\/p>\n<p>U.S. gaming revenue began to recover in 2021 following devastating results in 2020 due to the pandemic. Since last year, 16 out of the 33 states where casinos have since resumed operations have seen their gambling revenue increase each quarter. These states include five of the country&#8217;s six largest gaming markets \u2013 <strong>Nevada, Pennsylvania, Michigan, New York and Indiana<\/strong>. <\/p>\n<p>From July to September 2022, commercial casinos recorded $15.17 billion in revenue, representing a year-over-year growth rate of 8.8%. This exceeds the broader U.S. economy&#8217;s 2.6% growth rate in the same quarter, according to <strong>Bill Miller<\/strong>, President and CEO of AGA.<\/p>\n<h2>Slots Create New Revenue Record<\/h2>\n<p><a href=\"https:\/\/www.legitgambling.com\/us\/legal-us-online-betting-sites\">Sports betting<\/a> recorded the highest revenue jump after <strong>reporting $1.68 billion in the third quarter of 2022<\/strong>, an almost 81% increase on the same period last year. <strong>Online gambling generated $1.21 billion in revenue<\/strong>, just 1% short of creating a new quarterly record. <\/p>\n<p>From January to September 2022, sports betting revenue stood at $4.78 billion, already surpassing 2021&#8217;s full-year results of $4.34 billion. The record revenues were mainly brought about by strong growth in existing markets and a higher-than-usual sportsbook win percentage. Seven <a href=\"https:\/\/www.legitgambling.com\/news\/sports-betting-to-launch-in-kansas-on-september-1st\/\">new sports betting markets such as Kansas<\/a> have opened since 2021 which also contributed to the growth, the association said.<\/p>\n<p>Slots and table games at land-based casinos remain the biggest revenue driver, generating $12.27 billion across July, August, and September, up 1.8% from the same period in 2021. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary Casinos across the U.S. reported $15.17 billion in revenue in the third quarter of 2022 The record figure comes amid ongoing economic challenges The AGA said the continued year-over-year growth is a positive sign for the industry More Americans are turning to gambling amid the ongoing inflation. This is reflected in the latest numbers [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,6,3,8,1],"tags":[],"class_list":["post-12822","post","type-post","status-publish","format-standard","hentry","category-casino","category-finance","category-poker","category-sports","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>U.S. Gaming Revenue Hits Record $15bn In Q3 Despite Inflation<\/title>\n<meta name=\"description\" content=\"More Americans are turning to gambling amid the ongoing inflation, as US Gaming Revenue Hits Record $15bn\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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