AGA: 2022 a bumper year for US sports betting and igaming as revenue grows by double digits
Gross gambling revenue up 73% for sports betting and 35% in igaming as new states come into the fray
US sports betting gross gambling revenue (GGR) rocketed by 73% year on year (YoY) to $7.5bn during 2022, according to latest data published by the American Gaming Association (AGA).
Releasing its latest commercial gaming revenue tracker data for the year, the AGA reported a 35% YoY increase in GGR from online gambling over the same period, rising to $5bn in 2022.
Slots GGR grew by 5% YoY in 2022 to $34bn, while GGR from table games rose by 14% during 2022 to $10bn.
Total US GGR from both commercial and online gambling hit $60bn during 2022, up 14% YoY.
During the final three months of 2022, sports betting GGR grew by 63% YoY to $2.5bn, buoyed in part by the continuing NFL season, as well as the impact of the NBA season on sportsbooks.
Online gambling GGR rose by 28% YoY to $1.3bn over the Q4 2022 period.
Maryland, Kansas, New York, and Louisiana all launched sports betting markets during the last twelve months. In January, sports betting went live in Ohio, with Massachusetts set for an online sports betting market launch in March.
Despite only launching in January 2022, New York has quickly cemented itself as one of the largest markets for sports betting in the US, accounting for $1.3bn of the $7.5bn 2022 sports betting GGR total.
All but two sports betting markets saw increased handle last year in the form of Delaware (-32.3%) and Mississippi (-9.2%) as Americans bet a total of $93.2bn on sports throughout 2022.
In respect of online gambling, each of the five markets which were operational during 2021 saw annual revenue growth spikes during 2022, ranging from New Jersey, which saw GGR rise 16% YoY and West Virginia, where online gambling GGR rocketed 90% on 2021’s figures.
Notably, growth in the US online gambling market came despite the fact that no new states launched in 2022. However, efforts to launch online gambling are currently underway in Indiana, Maryland, New Hampshire, Illinois and the potentially game-changing market of New York.
AGA president Bill Miller welcomed the 2022 numbers as proof of the US market’s resilience against the wider global economic slowdown.
“Even as we navigate macroeconomic headwinds, I am optimistic about the year ahead,” said Miller.
“To carry our momentum into 2023, the AGA remains focused on combating the illegal market, doubling down on responsibility, and creating favorable policy and regulatory conditions that enable our industry’s sustained success,” he added.