2023 Ends with Record $66.5 Billion in Revenue For U.S. Commercial Gaming

The U.S. commercial gaming industry enjoyed a very good 2023, its best ever, bolstered by the increased mainstreaming of online betting sites and gaming sites, and the launch of new markets across the country.

An American Gaming Association report released on Tuesday gave us a snapshot of just how good of a year it was. $66.5 billion in revenue was reported for the full year in 2023, a 10% increase from the previous record of $60.5 billion in 2022. 2023 was the third straight year the AGA has reported record revenues for the year.

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

More on the numbers

The revenues, with the best sportsbooks contributing significantly, cover sports betting, iGaming, and traditional casino gaming through online sites and at traditional brick-and-mortar casinos.

The fourth quarter of the AGA’s fiscal year was perhaps the most significant story out of the Association’s report on the betting activity in 2023 across the U.S, which included the best sports betting apps. $17.4 billion in revenues was generated during the three-month period, and that was easily a record. $6.2 billion in revenue was produced in December alone, which speaks to the momentum of the gaming industry in America.

The sports betting industry factor

$10.9 billion of the overall $66.5 billion came from sports betting. While that number doesn’t quite jump off the page, it does represent a 44.5% year-over-year sportsbook revenue spike. The combined national sports betting handle for 2023 was $119.8 billion, a 27.8% increase from the year prior.

A record $3.4 billion in gross revenue for the U.S. sports betting scene in the final quarter of the fiscal year was reported by the American Gaming Association. That's 30.8% better than Q4 of 2022. 

2023 sports betting figures were buoyed by the legal launch of states like Massachusetts and Ohio, which joined the top-six list of the most successful U.S. legal sports betting jurisdictions. New York, New Jersey, and Illinois showed no signs of slowing down last year, with each of those states enjoying record years.

So far, just the launch of North Carolina sports betting is the only major state event on the radar. The three most populous states in America-California, Florida, and Texas- still look years away from their own legal sports wagering platform.

Editor's note: With North Carolina sports betting set to launch on March 11, check out our best North Carolina sports betting apps and the best North Carolina sportsbook promos! 21+ and present in NC. Gambling Problem? Call 1-800-GAMBLER

Casinos hold their own

Casinos held their own during 2023 with regard to growth and revenue figures. According to the AGA report, the online casino industry, which is legal in just six states in the American market, was responsible for $6.2 billion, or about a 10th of revenues for the entire industry. That's a 23% year-over-year increase.

Traditional casinos experienced a 3.3% year-over-year increase in revenues, leading to a record $49.5 billion. Slots was responsible for a record $35.5 billion of that figure.