The American gaming sector is experiencing a period of unprecedented success, shattering revenue milestones for two consecutive quarters! The sector amassed an impressive $15.17 billion in Q3, a 2% increase from Q2’s $14.81 billion.
Data from the American Gaming Association (AGA) suggests that 2022 is on track to become the most profitable year ever for US gaming. Revenue has already surged by a remarkable 14.7% in the first nine months compared to the previous year.
AGA’s President and CEO, Bill Miller, emphasized the industry’s extraordinary ability to withstand challenges: “Despite economic pressures, robust consumer spending is driving our industry to unprecedented levels of success. This sustained expansion, even amidst broader economic volatility, demonstrates the overall strength of gaming and signals a promising future.”
Sports wagering, in particular, is the current star performer, establishing a new quarterly revenue benchmark of $1.68 billion, representing an 80% year-over-year increase. This surge is unsurprising considering the increasing number of states embracing legalized sports betting. This year alone, multiple states, including Kansas, have launched sports betting, with Ohio scheduled to follow on January 1st, 2023. Maryland is also expected to join before the year concludes. Even Massachusetts is finally participating, with plans for a 2023 launch. The outlook for US gaming appears exceptionally positive!
The American sports wagering landscape currently resembles a frontier town, with businesses practically showering you with funds to become a member. DraftKings is fully committed, offering a generous $200 in complimentary wagers simply for establishing an account on their latest platform. Believe it or not, they’re also granting new subscribers an opportunity to win a share of a colossal $100,000 prize fund!