- Gambling revenue might break $44 billion in 2021.
- Nevada gambling revenue broke $1 billion for four months straight.
LAS VEGAS - The United States is trending to set a new record in gambling revenue by the end of the year. In the second quarter of 2021, the US hit $13.6 million in revenue, shattering the previous record of $11 billion during the third quarter of 2019.
“The gaming industry is on its way back,” said Bill Miller, CEO and president of the American Gaming Association.
The US gaming industry set an impressive gross revenue of $43.6 billion in 2019, but since that time not only did a pandemic lock millions of Americans inside of their homes for a year, but many states legalized sports betting as well.
The additional revenue from sports betting is sure to help break that $43.6 billion record, especially during the third and fourth quarters of the year when NFL season is in full force.
Nevada's Revenue Contributions
Nevada continues to be the country's most profitable gambling state, generating 3.4 billion in gambling revenue in the second quarter of 2021, a 17% increase from 2019, and $1.2 billion in gambling revenue in the month of June alone.
After four straight months of breaking a billion dollars in gaming revenue in the second quarter of 2021, Nevada has set a new record for the biggest quarterly gaming revenue earnings in its own history.
Last year Nevada made $7.87 billion in 12 months, less than half of what it made this year in just the first four months of 2021.
Online gambling has also been performing very well in 2021. Despite only being legal in six states, iGaming set a new record of $901 million in revenue during the first quarter of 2021.
Combining the revenue of the first two quarters of 2021 sees iGaming at $1.66 billion in revenue, crushing the $1.55 billion in the entire year of 2020 in half the time.
Are The 2021 Numbers The New Standard?
The revenue generated from gambling and iGaming this year is impressive; records are being broken and more options for gambling are opening up across the country. It is important to keep in mind however, that the United States spent a good portion of 2020 locked inside their homes.
When casinos started opening up again in late 2020, millions of Americans were ready to flock to them in search of excitement. As people get used to being out and about again, will casinos see their numbers go down?
With the increased accessibility of online gambling and sports betting establishments as more regulations occur, it's possible that these revenue standards are here to stay.