New U.S. Gambling Stats: Record figures as Addiction also grows

The American Gaming Association (AGA) just released a report on the U.S. commercial gaming industry’s financial performance for 2023. For the third consecutive year, the commercial gaming industry has set a new revenue record.

"Total revenue from land-based casino games, sports betting and iGaming reached $66.52 billion for the calendar year, a 10.0 percent increase over the previous record set in 2022” (AGA).

AGA President and CEO Bill Miller said, “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high. Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with growth of the legal market” (SBCAmericas).

Responsible gambling has become a hot topic as recent media coverage has highlighted a notable increase in gambling addiction rates. The Florida Council on Compulsive Gambling says it’s struggling to meet demand for their gambling addiction hotline. Executive Director Jennifer Kruse stated that calls increased by 138% over one month from December 2023 to January 2024.

Additionally, other legalized sports betting states are reporting large increases in gambling addiction and calls to hotlines:

New Jersey is reporting that their residents’ gambling addiction prevalence is more than three times higher than the national average.
West Virginia named March “Problem Gambling Awareness Month” in 2023 after a study for 1 in 50 residents faced gambling addiction.
Rhode Island found the odds of developing gambling problems were 2.4 times higher in the state’s sports bettors.

So while gambling revenues are skyrocketing, gambling addiction rates are sadly following a similar trend.

Record AGA figures as gambling reaches new heights in U.S.

Sports Betting

Legal sports betting hit a record high in 2023. Here’s a breakdown of some statistics from the AGA sports betting report:

Sports betting across the U.S. grew 44.5% in 2023 and reached $10.92 billion in revenue (up from $7.56 billion in 2022).
Americans legally wagered $119.84 billion on sports in 2023 (up from $93.2 in 2022).
5 new sports betting jurisdictions started operations in 2023 - Kentucky, Maine, Massachusetts, Nebraska and Ohio - combined for $1.49 billion in revenue.

iGaming

Online casino or “iGaming” revenues are also increasing notably in the United States. Despite the lack of new markets in iGaming, it has continued impressive growth.

iGaming revenue totaled a record-breaking $6.17 billion. This marks a 22.9% increase from 2022.
Michigan and New Jersey each generated $1.92 billion in iGaming revenue in 2023.

Casino Table Games

Table games are a staple in traditional casino gaming. Like the other primary verticals in the industry, table games saw great increases. Traditional casino gaming generated a new record of $10.31 billion of revenue in 2023, a 3.5% growth from 2022.*

Slots

Slot machines had comparable growth to table games. Slot machine revenue grew 3.8% year-over-year with a new record of $35.51 billion.*

* Note: These figures do not include data from Louisiana and Michigan.

Gambling Addiction rates also increasing

Gambling addiction is also hitting an all-time high in the United States. The National Council on Problem Gambling (NCPG) estimates approximately 2 million adults in the U.S. are severely addicted to gambling, and another 4-6 million people have mild to moderate gambling problems.

With gambling addiction on the rise, so are the economic costs that are associated with it. The annual economic cost of gambling addiction is estimated to range from $6 billion to $7 billion, which covers healthcare, job loss and criminal justice expenses” (Sportslens). People with gambling addiction often suffer significant debts, face unemployment and resort to illegal activities.

Not every group of people encounter gambling addiction equally. The NCPG suggests 18-24 year olds are 3 times more likely to experience a gambling problem than adults. Additionally, men are 2-3x more likely to develop gambling addiction than women.

These statistics provide evidence that the United States is facing a significant challenge with gambling addiction as betting popularity increases.

Lack of national data

Increased media coverage has put a spotlight on gambling addiction, but a lack of national data makes it difficult to grasp the severity of gambling addiction nationwide.

Funding for gambling addiction treatment is provided on a state-by-state basis. Since there is no federal funding, there is a lack of national data on problem gambling.

The NCPG proposed to gambling addiction Recovery, Investment and Treatment (GRIT) Act which would set aside tax revenue for gambling addiction treatment and research. If passed, more national data on gambling addiction would be available.

Gambling Addiction help and resources

If you or a loved one suffers from gambling addiction, there are resources to help. Birches Health provides 100% confidential and convenient treatment options. To receive affordable treatment options from the best gambling addiction specialists, call (833) 483-3838 or email hello@bircheshealth.com.