Legal Online Casino Gaming Marks 10 Years in the US
The American Gaming Association is marking a milestone. The AGA says November 2023 marks 10 years since the launch of online casino gaming in the U.S.
The AGA says November 2023 marks 10 years since the launch of online casino gaming in the U.S. (Image: The Venetian Resort)
The gaming industry trade group says regulated iGaming is on an upward trajectory. The AGA says iGaming operators combined have generated $16.3 billion in total gross gaming revenue (GGR). That has produced more than $4 billion in tax payments, according to the AGA.
Seven states have legalized iGaming. New Jersey, Michigan, Pennsylvania, West Virginia, Connecticut and Delaware currently offer full-scale iGaming. Rhode Island became the seventh state and the first in 2023 to approve iGaming, and is in pre-launch phase likely to be completed in Spring 2024.
The AGA points out the $16 billion in revenue despite iGaming only being available to about 13% of the adult U.S. population.
Legal Versus Black Market
Reining in the black market was among the goals of legal online casinos, and it’s a goal still largely unmet. Americans still wager as much as $338 billion a year with illegal operators, according to the AGA, because the legal options are still limited.
Pennsylvania tops the list of iGaming states, having accounted for $1.83 billion in tax revenue. The second spot finds New Jersey and Michigan running closely together at slightly more than $1.3 billion.
So far in 2023, iGaming states netted slightly more than $3.9 billion. That’s a 22.7% year-over-year increase.
AGA Also Focusing on Casino Industry Economic Impact
In October, the American Gaming Association released a study highlighting the casino gambling industry impact. The AGA study showed nearly $329 billion a year in economic activity.
It was the first study released by the association since 2018. The study showed 2023 on pace to exceed records.
“I think it speaks to the continuing popularity of casino gambling in the United States,” said David Schwartz, a gambling historian at the University of Nevada Las Vegas.
As far as iGaming, The AGA is looking toward the 2024 legislative calendar in a number of states for the potential of successful new iGaming bills. New York, Illinois, Indiana, Kentucky, Maryland and New Hampshire were among the states where online gaming bills failed to pass in 2023.
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