US Gamblers Lost $157B in 2022, Casinos Still King

Must read

[ad_1]

Posted on: March 30, 2023, 08:34h. 

Last updated on: March 30, 2023, 08:34h.

Gamblers in the United States last year lost about $157 billion. That’s according to a tally from Eilers & Krejcik Gaming, a California-based research firm focused on casino, iGaming, and lottery insights.

US gamblers casino gross gaming revenue
Pedestrians pack the Las Vegas Strip. US gamblers lost roughly $157 billion in 2022, with brick-and-mortar casinos accounting for the lion’s share of the revenue. (Image: Las Vegas Review-Journal)

The legal gaming landscape in the US has changed greatly since May 2018 when the US Supreme Court said states can decide their own laws on sports betting. More than 30 states have since legalized gambling on sports.

Online gaming also continues to expand. Six states now permit iGaming with interactive slot machines and table games.

But traditional brick-and-mortar casinos, Eilers & Krejcik reports, held their throne in 2022. Land-cased casinos continued their reign as the most important gaming vertical, as gross gaming revenue (GGR) from commercial and tribal casinos totaled $91 billion — or 58% of the 2022 overall gaming win.

When online gaming and sports betting revenue that’s linked to a physical casino by way of third-party partnerships is included, total GGR for casinos — often referred to as “legacy gaming” — was $98 billion. Despite the many new legal gaming options players have today, casinos still managed to account for almost 63% of the $157 billion net win in 2022.

Casino Win Increases

US residents continue to gamble, and lose, more. And casinos remain the primary beneficiary.

Commercial casino revenue from slot machines, table games, and retail sports betting totaled about $48.7 billion — a 6.7% year-over-year increase. Tribal casinos experienced a similar uptick, as GGR climbed 6.6% from 2021 to $42.3 billion.

Thirty-three states have commercial casinos and 29 have tribal casinos. Fourteen states have both commercial and tribal casinos.

Lottery players lost the most money after casino gamblers. Lottery revenues last year totaled $35.5 billion after player winnings were paid.

Expanded gaming and more wagering options, whether it be online casinos, video gaming terminals inside convenience stores and truck stops, or mobile sports betting, could be cutting into the lottery sector, as the $35.5 billion won from draw and scratch-off games represented a 1.3% year-over-year decline.

Prospering Industry Amid Difficult Times

Inflation remains high and the stability of the global economy remains shaky with China’s tightening relations with Russia and the ongoing conflict in Ukraine. North Korea is also threatening nuclear war.

But in the US, a strong labor market continues to bolster consumer spending. Economic analysts at Bank of America said in a note this week that consumer spending somewhat normalized in February with credit and debit card spending per household up 2.7% year-over-year.

Spending continues to be supported by positive consumer ‘fundamentals.’ Measures of consumer health such as the inflows into customer savings and checking accounts relative to outflows remain in fairly good shape and median bank balances continue to be elevated despite gradual drawdowns for the middle- and lower-income households,” the bank research detailed.

No gaming market is more important to the overall health of the US gaming industry than Nevada. And in February, the most recently reported month, GGR topped $1 billion for a record 24th consecutive month.



[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

rahasia sukses bermain pola princestangan dewa stephen chow memecahkan scetter hitamkakek tua yang baik hati pemberi keberuntunganslot jitu pragmatic playtrik scatter buah segar bonanza hokitrik curang main slot mahjong wayslapar scatter hitam di mahjong waysx500 bertubi tubi turun di slot princess dewata88di jamin jackpot pola gacor jeyus pengendali petirpetir halilintar menyambar kakek sampai menurunkan x1000kakek tua yang baik hati pemberi keberuntungangame penuh kemenangan slot lucky neko banjir wild emasledakan maxwin slot sweet bonanza auto pecah perkalian tinggisistem slot online terbukti gacorcara terbaik memanfaatkan rtp slot onlinelive pola slot terbaru gates of olympusrahasia jitu slot gacormenggunakan arwah masa lalu untuk membantu anda maxwin mahjong waysmenang 35juta pada scatter hitam slot mahjong waysputran spin gila slot mahjong ways 2 langsung pecah scatter sensasionalrahasia bigwin slot starlight princess langsung jadi sultan kayasistem kemenangan maxwin dengan slot olympus 1000 jaminan menang 500 jutasitus gama69 situs terbaru anti boncospola gacor baruy slot fortune tiger gampang pecah wild besargame slot gacor terbaik terpercaya lengkap dengan trik maxwin cara memperkaya diri dengan bermain slot starlight princessbocoran admin yami slot terbaru mudah maxwinadmin jarwo slot gacortrik jitu wd cepat kilatslot super mahjong ways dengan depo minimal 20k gampang maxwinrahasia para pemain bisa menang berkali kali pada slot starlight princess x1000slot anti rungkad bocoran terbarucara jitu bermain slot mudah jackpotrahasia pola slot sweet bonanzasensasi link gacor mudah jp mahjong ways2game slot online terbaruPputaran slot mahjong ways turunkan scatter tanpa bataspola garis 3 scatter hitam mahjong waysmitos dan fakta dari scatter hitam slot mahjong waysgame slot gacor terbaik terpercaya lengkap dengan trik maxwin olympus slotputaran slot mahjong ways turunkan scatter tanpa batasmudah banget maxwin main slot online gates of olympusslot gacor mahjong ways 2 kemanangan maksimal 100 jutatips mendapatkan perkalian jitu slot mahjong wayskemenangan terbesar dari slot jitu super mahjong wayssitus slot anti boncos terbaik di indonesiaslot hoki pembawa berkah slot mahjong ways 2 langsung hoki cair 20 jutapola jitu gampang menang emperor caishenpanduan lengkap meraih maxwin di slot gates of olympus x1000prediksi game slot online terbaruslot super mahjong ways gampang sensasional jackpot terbesartips menang besar dengan pola admin pusat slot gacorlangkah langkah mendapatkan kemenangan besar di slot mahjong wayscara mudah main slot online mahjong ways banjir scatter hitampola populer turunkan slot scatter hitam mahjong secara konsistenteknik jitu modal bet receh slot mahjong ways gampang raih slot scatter hitamjam gacor pasti jackpot besar langsung dari admin jarwo jam jatuh slot scatter hitam aslifitur akhir bulan mei dapatkan hadiah langsung jika berhasil dapatkan scatter hitam langka