US Gambling Industry Extends Quarterly Revenue Streak
In the first quarter of 2024, the US Gambling industry recorded $17.67 billion. This is the 13th straight month that the country has beat its previous record in gambling revenue. This includes all US retail casinos, sportsbooks, as well as online casinos and online sportsbooks. The quarterly number includes a $6 billion revenue for the month of March- which is the second-highest monthly revenue recorded so far.
The continuing upward trend in gambling revenue reinforces the steady growth of the industry that grew since its recovery from the COVID19 pandemic back in 2020 when retail sportsbooks and casinos were shut down. That means that becoming a bookie continues to be very lucrative.
US Gambling Industry Sees Growth in Online Gaming
The report from the American Gambling Association (AGA) also details that online sports betting and iGaming continue to grow. Online wagering contributes around 29.3% of the total Q1 2024 revenues, with 70.7% coming from retail or brick-and-mortar establishments. The pay per head bookie software industry sees an increase in registration of bookies and in player activity as well. As more and more states open their doors to online gambling, the percentage might increase.
Online slots, table games and poker, which we usually bundle under iGaming, recorded nearly $2 billion in Q1 revenue, which is 26.1% higher than the same period last year. The rise in revenue is mostly credited to Rhode Island, who launched the seventh-regulated online casino market in the state.
Sports Betting in the US
Meanwhile, sportsbooks generated $3.33 billion in quarterly revenue based on a $36.86 billion handle. This is 22% higher than the same period last year. The increase, while also due to more visibility, is also due to North Carolina, Maine, Kentucky, and Vermont launching their betting markets.
There are more than three dozen sports betting markets in the US today, offering a combination of retail and online wagering. Casino gambling meanwhile, is still behind sports betting. There are only seven states that offer online gaming. Sports betting also continues to evolve, with more and more products becoming available to the public. Your pay per head bookie software will have the latest innovations in wagering, thus giving you an edge over other competitors.
Of course, if you look at these bookie pay per head reviews, you will see that you can offer an online casino alongside your sportsbook. This allows you two different revenue stream from just one gambling website.
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