By TheNuts - Feb 24, 2025
US Gaming Revenue Thrived In 2024
Our top
sports betting sites in the US have continued to thrive this year.
The American Gaming Association (AGA) has released an updated gaming revenue report for Q4 2024, revealing $18.62 billion across all gambling verticals. This was a record number for any quarter in US history, contributing to a record-breaking revenue of $71.92 billion in 2024.
The revenue in 2024 increased by 7.5% above the previous record of the greatest income collected in a year, which was set in 2023.
The vast majority of the $71.92 billion came from land-based gambling. Land-based casinos and retail
sportsbooks generated $50.32 billion, accounting for 70% of the total. Meanwhile, internet gaming generated $21.54 billion, or 30% of total income
However, the AGA research shows that online gambling is generating more income, with a 30% revenue share up from less than 25% the previous year. Furthermore, although land-based gaming revenue grew by only 0.6% year on year, internet gambling revenue climbed by 24.6%. According to the American Gaming Association, "revenue growth was driven almost entirely by online betting in 2024."
Online gambling earned the most revenue in 13 US states, including Michigan, New Jersey, and Pennsylvania. New Jersey, known for its Atlantic City casinos, saw internet casino income outpace land-based revenue for the first time in December 2024.
Arizona, North Carolina, Tennessee, Wyoming, Connecticut, and Kentucky are among the states that primarily generate money from online commercial gambling.
Nevada's monopoly on sports betting and several casinos in Las Vegas have made it the US's gambling center for decades. While sports betting has proliferated throughout the United States after the Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA), and casinos can be found in many other states, Nevada's 2024 gaming earnings demonstrated that it still reigns supreme.
The state collected $15.6 billion in income in 2024, representing a 0.5% increase over the previous year. Even with moderate growth, Nevada generated more than twice the revenue of its nearest competitor, Pennsylvania.
In 2024, gaming earnings increased in most US states, including Pennsylvania, New York, Michigan, Illinois, Massachusetts, Virginia, Connecticut, Maine, Oregon, and Wyoming, ranging from 10% to 35%.
Nebraska experienced a more significant increase in revenues, rising by more than 62% year over year. DC experienced the most year-on-year revenue growth, jumping by 201.6%.
DC's gambling sector expanded dramatically in 2024, allowing commercial operators to provide online sports betting throughout the district beginning in June 2024. This allowed new operators, such as Fanatics, to launch.
Previously, only GambetDC and FanDuel, both associated with the DC Lottery, could offer online sports betting in Washington, D.C.