It was a phenomenal month for US-based casinos throughout July, as it was recently reported that it was a record-breaking month for betting establishments across the country. In a jaw-dropping revelation, it was revealed that during July 2023, casinos across America pulled in more than $5.4 billion in winnings, putting them on target to have their best year ever. It’s a monumental record of growth that shows how eagerly the United States is expanding its gambling operations, that’s for sure.
According to the data available, in the first seven months of this year, more than $38 billion was won from bettors taking part in casino, sports, virtual, and internet-based gambling. This is owed in part to the ever-expanding presence of gambling in the United States – since the US Supreme Court overturned the federal ban on sports betting in 2018, the vast majority of states have opened their doors to gambling practices.
It’s The New Generation
In the United States, more people are gambling than ever before – but it’s also much more regulated than it ever was. For the most part, the growth of gambling in-country is well-governed by either impartial third parties or government-backed organisations that are responsible and conscious of the safety of gamblers. There are bodies being established all over the country to ensure things are kept fair, and in almost every state, a portion of taxes and revenue is diverted towards ‘good’ or beneficial causes.
It hasn’t been a wasted opportunity for any state – every part of the country has recorded record-high growth since opening their hearts and minds to gambling. There are plenty of political figures who oppose gambling, but that’s just the way things are – there will always be opposition. There’s no denying the facts though – and the money that is being skimmed off the top of taxes and revenue is helping to fund anti-addiction programmes, education, and healthcare initiatives.
According to data presented by the American Gaming Association (AGA), all the casinos’ winnings were up around 6% year-on-year. There were some big numbers produced by the likes of Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia. It was also stressed that, year-over-year, online sports betting and internet-based gambling activities increased by more than 25% – and that’s where are lot of the growth is happening now.
It can easily be said that the growth we’re witnessing is subsequently leading to more growth – it’s exponential.
From esports betting to traditional sportsbook-based wagers, millions more bets than ever before are being placed every month, and that’s a huge deal. How long will it be before every other outstanding state opens its doors to online betting practices and operators?