AGA Report Underreports iGaming Growth and NJ’s Changing Gambling Landscape
Because of Atlantic City, New Jersey continues to top the country in gaming. And according to industry statistics from 2023, this is still true, as it was 45 years ago.
But as more states accept online betting, a study from the American Gaming Association shows how drastically the US gambling market has changed recently.
And nowhere is that possibly more apparent than in the Garden State, where 49.9% of all gaming income in the state is now generated by NJ online casinos and NJ online sports betting.
AGA Reports that National Gambling is Trending
By 10% above the previous annual record established in 2022, the US gambling sector brought in $66.52 billion in 2023, according to the AGA’s commercial gaming revenue tracker. The major trade association for the sector, the AGA, claims that 2023 will be the third year in a row that earnings from commercial gaming have altered historical records.
Even though there are only six states where iGaming is legal, the industry generates $6.17 billion in revenue annually, which is more than 9% of the total.
Every market for legal online casinos broke yearly revenue records, with profits rising 3.3% in Delaware and 44.7% in Connecticut during the latter part of its second full year.
With sports betting now permitted in 38 states as well as Washington, DC, income from sports betting was a little under $11 billion in 2023, a YoY increase of about 45%. According to the AGA, legal sports wagering by Americans exceeded $119.84 billion in 2016, an increase of over 28% from the previous year.
