Six years after the US Supreme Court’s landmark judgement, allowing for a state regulation of online and land-based gambling, the US betting and gambling market keeps growing. Since then, 38 states have passed legislation which allows for regulated sports betting and gambling.

With the 13th consecutive quarter of growth in the market, the American Gaming Association (AGA) reports a record $17.7 billion (€16.37bn) commercial gaming revenue for Q1 2024. March 2024 alone generated $6.1 (€5.64bn) billion in gambling revenues, making it the second highest grossing month ever. Eleven states, including New York and Pennsylvania, set new quarterly revenue records. The industry paid $14.7 (€13.59bn) billion in gaming tax revenue to state and local governments in 2023, up 9.7% from 2022.

iGaming saw a record $2 (€1.85bn) billion in Q1 revenue, a 26.1% increase year-on-year, with Rhode Island launching its operations in March. Retail gaming contributed 70.7% of total Q1 revenue at $12.3 billion. Sports betting also hit a new high, with Americans betting $36.9 (€34.12bn) billion in Q1, generating $3.3 (€3.05bn) billion in revenue, a 22% increase year-on-year.

Interested in a talk on the opportunities the growing US online gambling market may provide for your business ventures, compliance strategies for multi-jurisdictional operations and changes and challenges in the fast-developing gambling markets in the Americas? Have a virtual coffee with and gain insights from Chevron Group’s experts Ursula Bessa Marinho (ursula@chevron.group), Lawrence Marchese (lawrence@chevron.group), Kurt Laferla (kurt@chevron.group) and Thees Buschmann (thees@chevron.group). Follow us on LinkedIn for more industry related news.

Quelle: Chevron Consultants