As known from:
The SunFootball365Sportskeeda
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Contains commercial content
Alerts
Latest Deals
Write a Review
Write a Review
Nothing Found
About betting.net
  • Betting.net on YouTube
  • About betting.net
  • The betting.net Crew
  • How We Rate
  • Play Responsibly
  • Contact us
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Betting.net / Us Sports Betting And Casino Sees 6% Revenue Boost In May 2023

Us Sports Betting And Casino Sees 6% Revenue Boost In May 2023

Publish Date: July 28, 2023
Fact checked by: David Genge

Recently published data from the American Gaming Association has revealed that the commercial gaming industry in the US enjoyed a revenue growth of 6% this May compared to the same month last year.

US Revenue Boost in Sports and Casino

May 2023 saw the industry taking in $5.49 billion in revenues taken from casino gaming and sports betting, and it makes it the 27th month in a row where there has been growth.

As such, it seems as though the commercial gaming industry is finally starting to shake off the effects of the recent pandemic. This is something seen in the remarkable figures produced by the first half of 2023 alone.

From January to May 2023, the revenues earned from commercial gaming were already well over 12% over what they were in 2022 to produce a total in excess of $27 billion. While May’s figures were just a shade less than the record-breaking revenues enjoyed in March 2023, they continue to define a positive trend of the commercial gaming industry.

What’s driving the growth in commercial gaming revenues?

While land-based casinos have benefited from the return of customers after the lockdowns, such physical gaming outlets actually suffered a modest reduction of 0.6% in revenues in May 2023.

Instead, it was online gaming that brought in the record figures. This saw a massive increase in excess of 43% compared to the same time last year. The arrival of newly legalized sports betting sites such as Massachusetts, Maryland, Kansas and Ohio has pushed revenues into uncharted territory.

As such, there is a noticeable trend towards sports betting, and physical and online sportsbooks managed to produce over $864 million in revenues across 28 states in May.

Such figures represent an increase of over 41% compared to the same month last year, and the numbers would have been even more impressive had Arizona managed to report its monthly revenues in time.

Much of this is down to the two populous states of Ohio and Massachusetts finally entering the realm of legal online sports betting, and they are now in the top-five performing states in the US.

The upward trend looks to continue throughout 2023, as sports betting was already up by nearly 65% as of May, and there has been over $4.5 billion recorded in revenues so far.

The six states with legal online casino gaming also saw positive revenue trends. From January to May 2023, the states of Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia took in online casino revenues of over $497 million. This represents an increase of over 22% compared to 2023.

Of those states that saw a reduction in their overall commercial gaming monthly revenues, it was largely the likes of Missouri and Louisiana who traditionally depend on their physical casino outlets.

While it’s still too early to read into these trends, it shows that legal sports betting and online casino gaming could be helping the industry find new revenue streams throughout 2023 and beyond.

Read Also
Over $20 Billion In Revenues Since Legalization Of Sports Betting
Legal sports betting has only been in existence in the US for ...
Nevada Enjoys Bounce In Sports Betting Revenues
Nevada posted a year-on-year increase of 36% in sports betting revenues during ...
BetMGM Promo
Positive Trends For Sports Betting In Pennsylvania
It’s been yet another great month for sports betting in Pennsylvania. Recently ...
Mixed Fortunes For Louisiana’s Sportsbooks In Summer 2023
July 2023 proved to be another unpredictable month for Louisiana’s online sportsbooks. ...
American Gaming Association Announces Consecutive Eighth Record-Breaking Quarter
The iGaming sector in the US continues its prosperous streak, as the ...
Sportsbook of the month
PointsBet - Get your Bonus Bet now! Get your Bonus Bet now!
Latest News
Las Vegas adult venue steps in after recent MGM cyberattacks
Amid the turmoil caused by recent cyberattacks at ...
Over $20 Billion In Revenues Since Legalization Of Sports Betting
Legal sports betting has only been in existence ...
Draftkings And Fanduel Battle For Control On NY Sports Betting Market
The battle between DraftKings and FanDuel for supremacy ...
Kansas Records $1.85 Billion Of Bets In First Year Of Sports Betting
It’s been a successful first year of operation ...
Las Vegas hotel manager allegedly embezzles $773k in fake refund scheme
Brandon Rashaad Johnson, a former Las Vegas strip ...
Top Betting Sites
Top Betting Bonuses
Bet365
Bet365
Bet365 Review
4.6/5
Caesars
Caesars
Caesars Review
4.6/5
PointsBet
PointsBet
PointsBet Review
4.5/5
BetMGM
BetMGM
BetMGM Review
4.5/5
Unibet
Unibet
Unibet Review
4.5/5
Bet365
Bet365 Bonus
Bet $1 & Get $365 in Bonus Bets
T&Cs apply
4.6/5
Bet $1 and Get $365in Bonus Bets at bet365. Deposit required. Bonus Bets winnings are added to Bonus Bets balance. Bonus Bet wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Caesars
Caesars Bonus
Bet $50 Get $250 in Bonus Bets
T&Cs apply
4.6/5
PointsBet
PointsBet Bonus
5 x $50Bet Credits
T&Cs apply
4.5/5
BetMGM
BetMGM Bonus
up to $1,500 back in Bonus Bets
T&Cs apply
4.5/5
Unibet
Unibet Bonus
$100 Second Chance Bet
T&Cs apply
4.5/5
21+ and physically present in VA only. Terms & Conditions apply. If you or someone you know has a gambling problem, please call, text or chat, VA Council on Problem Gambling on their confidential and toll free helpline at: 1-888-532-3500.
Get the latest updates in Sports and Casino via our Newsletter
Poker & Bingo

Full coverage of poker and bingo, from reviews of providers to guides and much more besides!

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Move to Top
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$25 No Deposit + 250,000 Gold Coins + 5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: BETCRYPTO
  • Drake loves this social casino!
  • Play for free with Gold Coins!
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site