The US gaming sector continues its hot streak! Revenue soared for the second consecutive quarter, reaching a remarkable $15.17 billion in Q3. This represents a 2% rise compared to the same period last year, surpassing even Q2’s impressive $14.81 billion.
The American Gaming Association (AGA) is practically celebrating, forecasting that 2022 will be a banner year for the sector. The initial nine months alone have witnessed a 14.7% revenue surge compared to 2021.
AGA CEO Bill Miller is understandably ecstatic. He emphasizes that despite looming economic concerns, the industry is demonstrating incredible strength and “strong customer appetite.” Essentially, people are eager to wager, and it’s translating into substantial profits.
A particularly noteworthy development is the boom in sports wagering. This segment generated a record $1.68 billion in Q3, a whopping 80% increase year-over-year. This surge is hardly unexpected, given that more states are embracing sports betting. Kansas is just the latest state to legalize it, with Ohio and Maryland poised to follow suit soon. Even Massachusetts is joining the fray, with plans for a 2023 launch.
It appears the US gaming industry is on a roll, and with the ongoing expansion of sports betting, the outlook appears even more promising.
Newly legal sports wagering markets are experiencing a surge of operators presenting enticing promotions. For instance, DraftKings is granting new customers $200 without requiring a deposit, along with an opportunity to win a $100,000 reward!
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