US Casinos Won $53 Billion in 2021

March 17, 2022 by

Last year, Americans spent a record-breaking amount placing bets. The American Gaming Association reported that physical and virtual casinos made a whopping $53 billion.

This shows a 21 percent increase since 2019 before the pandemic hit, forcing the majority of gambling houses to temporarily close shop.

A little while back, Bill Miller – the president/CEO of the American Gaming Association – said in a press conference,

``Our incredible rate of recovery sets us apart from others in the hospitality sector and the broader economy.``
``I'm really optimistic about where we're headed. That optimism is rooted in our industry's extraordinary recovery, topping $50 billion for the first time ever.``
Bill Miller CEO

Furthermore, in 2021, from 34 total jurisdictions in the US, 23 reported that they had met their yearly revenue goals. However, unsurprisingly, Las Vegas is still the hub for American gamblers, and last year its gross gaming revenue was $7 billion.

In terms of profitability, Atlantic City came in second, bringing in $2.6 billion. Next in line was Chicagoland, with a two billion-plus American Dollars profit.

Despite mobile gambling gaining momentum in recent times, people still prefer placing bets at physical casinos. Brick and mortar gambling dens have contributed the most towards this outstanding income figure, as tables, sportsbooks, and combined slot tables accounted for $45.62 Billion of the total $53 Billion, i.e., 85 percent of the total revenue.

A Significant Hike In Sports Betting

There is a noticeable rise in sports bettors as well. In 2021, there was a 165 percent increase in wagers from 2020, where Americans bet a record-breaking $57.22 billion. The revenue was the highest it has ever been: $4.29 billion.

However, this growth can be attributed to seven new markets introduced between 2020 to 2021. Apart from Delaware, all markets achieved wagering records.

With that said, New Jersey is the highest-grossing among all, reaching a revenue of $815 million.

Moreover, iGaming has been a contender within the gambling industry as well. There are six states where it is allowed, and they all saw a 139 percent jump in 2021, generating $3.71 billion.
Connecticut and Michigan also started offering this gaming service in 2021. Other than that, New Jersey is the highest earner in this market, followed by Pennsylvania and Michigan comes third.
These states earned revenue totaling $1 billion in 2021, a never-before-seen record in the US.