This year has been incredible for the US gaming industry. Combined October revenue from traditional casino gambling, sports betting, and online betting came at $4.75 billion.
This means that the industry registered a monthly revenue of more than $4 billion for the eighth month in the row.
The numbers come from the American Gaming Association’s Commercial Gaming Revenue Tracker. It’s based on October reports, as well as November reports by certain states — those that have shared their November results at the time of publication.
As of October, US casinos’ revenue total is worth $44.15 billion, the highest annual amount ever. The figure surpassed the previous record ($43.65 billion from 2019). The total will be even higher once all November and December reports are in.
As Forbes reported, US casinos saw major losses in 2020 due to the pandemic. This year, the industry has recovered. For instance, US gaming revenue reached $13.89 billion in Q3, smashing the previous record.
According to the AGA report, brick and mortar casinos were the main drivers of the recovery in October. They accumulated $3.97 billion, which is a 16% increase from October 2019.
When it comes to sports betting, the October handle stood at a record-breaking $7.05 billion. It means that the total amount in 2021, as of October, equaled $42.19 billion — almost double the amount wagered in all of 2020.
Commercial sportsbooks earned close to $408 million after settling winning bets and other expenses in October. That way, they topped the previous monthly record (September’s $405 million).
Furthermore, $357 million came from online gambling, which is a rise of 129% compared to October of the year before — yet another monthly record.
Six states (Colorado, Iowa, Massachusetts, Michigan, Pennsylvania, and South Dakota) exceeded their annual revenue records. Let us remind you that Connecticut launched sports betting and online gambling in October.
Given the upward trends, the pandemic-induced crisis is behind the US commercial gaming market.