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American Gaming Association Reports Best February Ever

James Bisson

Last Updated: April 16, 2024 7:16 AM EDT • 1 min 39 sec read.

Quarterback Patrick Mahomes #15 of the Kansas City Chiefs poses with the MVP award as we look at the American Gaming Association's February report
Quarterback Patrick Mahomes #15 of the Kansas City Chiefs poses with the MVP award at the Mandalay Bay Convention Center on February 12, 2024 in Las Vegas, Nevada. Photo by Ethan Miller/Getty Images via AFP.

The American legal casino gaming, sports betting, and iGaming industry continues to turn heads. That includes some very strong performances from our best sports betting sites.

Figures released in the American Gaming Association February report show that gambling providers in the American market set an all-time revenue record for February at just over $5.61 billion and showed year-over-year growth in every measurable metric - except for one. 

Not only did the gambling figures set a new February all-time high, but they also represented the 36th straight month of annual growth for an industry that still has room for expansion.

Deeper dive into the numbers

The AGA reported steady growth in the commercial gaming sector across the country. It wasn't just one jurisdiction that carried the revenue load. In fact, according to the AGA, 28 of 34 commercial gaming states saw increases in every commercial gaming vertical year-over-year. 

It is noted that revenue figures from two high-level sports betting states, Arizona and Kentucky, were not included, as their February figures had not been released at the time of the report writing.

Total Gross Gaming Revenue for February was $5.61 billion, a 9% year-over-year increase from February 2023. Slots revenue climbed 1.8% to $2.91 billion, table game revenue rose 12.8% to $916.2 million, gross gaming revenue for sports betting spiked 22.3% to $827 million, and iGaming jumped 30.9% year-over-year to $648.9 million.

Sports betting revenue figures were taken from 31 active jurisdictions. Americans wagered $10.49 billion in February, a 24.8% year-over-year increase.

The national hold rate for American sportsbooks was 7.9% during the month, exactly the same as in February 2023.

Retail gambling bounced back after a somewhat disappointing January. The AGA report states, "Combined revenue from casino slots, table games and retail sports betting reached $4.16 billion, a 3.7 percent increase from the previous year."

Year-to-date figures also encouraging

According to the AGA report, commercial gaming revenue is $11.46 billion through two calendar months of 2024, a 6.8% year-over-year improvement from the first two months of 2023. Totals from January and February of last year combined to set a record that was just beaten by the first two months of this year.

Slots action for the year's first two months was the only negative number on the AGA February report. It dropped 1.5% year-over-year from the first two months of 2023 to $5.63 billion.

Table games saw a 2.5% increase for the first two months of this year to $1.69 billion, sports betting climbed 32.1% through January and February combined to $2.31 billion, and iGaming spiked 25.7% year-over-year to $1.26 billion.

Written By:
James Bisson
James Bisson is the Editor-in-Chief of Sportsbook Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.