The US gambling industry got some serious validation with the American Gaming Association’s (AGA’s) Quarter Two Gaming Revenue report that was released this month.
The country’s overall gambling revenue saw a jump of almost 9% year-over-year. Gambling in Oregon was listed among nine states that set all-time single-quarter records in the second quarter of 2022.
Oregon gaming revenue surpasses 2021 so far this year
AGA reported that Oregon’s gambling revenue overall for quarter two of 2022 was a whopping $11.4 million.
This number easily surpassed the $7.9 million in revenue reported for 2021’s second quarter with a 44% increase year-over-year.
2022’s gaming revenue in Oregon for the first half of the year also blew 2021 out of the water with a year-over-year comparison.
2021’s first half saw Oregon’s gaming revenue reach $15.9 million. 2022’s first half reached $20.8 million, which is roughly a 31% increase year-over-year for quarter one and quarter two combined.
Nationwide gaming revenue continues to break records
US overall gambling revenue during the second quarter of last year was more than $13.6 billion.
This number blew away the 2020 quarter two revenue numbers by roughly 500% and 2019’s by 26.3% in a more valid comparison.
2021’s second quarter also blew away the previously held single-quarter revenue record by about 22.5%. This crown was formerly held by quarter three in 2019.
Bill Miller, AGA’s President, and CEO says the country’s rising food and gas prices and labor shortages are still a concern for the country’s gambling market.
2022’s second quarter totaled more than $14.81 billion
AGA reports that the combined US gambling revenue for the second quarter of 2022 totaled more than $14.81 billion, which is:
- An 8% increase year-over-year
- A 3% increase over the previously held record in Q4 of 2021
At halfway through 2022, $29.16 billion in gambling revenue has been generated so far, putting the US almost 18% ahead of 2021 at the same time. Bill Miller commented:
“While on pace to set an annual revenue record. We are cognizant of the continued impacts of inflation and labor challenges as well as marketplace concerns of a potential recession.”
How are Americans gambling in 2022?
The vast majority of US gambling revenue still comes from casino gambling like slots and table games.
However, sports betting and iGaming combined contributed roughly 18% of the American gambling revenue generated so far in 2022.
Of the total $29.16 billion in gaming revenue reported in the first half of 2022:
- Table games and slot machines accounted for $23.67, or 81.2% of total revenue.
- Sports betting accounted for $3.04 billion, or 10.4% of total revenue.
- iGaming accounted for $2.42 billion, or 8.3% of total revenue.
Of the total gaming revenue generated in the second quarter of 2022:
- Table games and slot machines accounted for $12.17 billion, or 82.2% of total revenue.
- Sports betting accounted for $1.42 billion, or 9.6% of total revenue.
- iGaming accounted for $1.21 billion, or 8.2% of total revenue.
Table games and slot machines
Though slot machine revenue for the first half of 2022 only increased 0.2% over 2021, table games saw a massive increase of 18.2%.
This indicates that COVID restrictions more intensely damaged table games revenue during the first half of 2021 than it did slot revenue.
2022 has seen an increase in consumers in sports betting demand. Six new state sports betting markets were also launched in the last year.
Given these increases in both supply and demand, sports betting in America saw a 63.9% increase, year-over-year.
There is currently a total of six iGaming markets that are operational in the U.S. The combined revenue for these markets in the second quarter of 2022 showed only a marginal increase year-over-year.
iGaming revenue for the first half of 2022, however, jumped 43.5% year-over-year. The addition of one iGaming market contributed to the jump.
How does tribal gaming compare to commercial gaming?
The National Indian Gaming Commission (NIGC) announced earlier in August that their Fiscal Year 2021 was the highest grossing year in history, earning $39 billion in revenue.
That number for 2021 jumps 40% above 2020’s revenue and 13% above 2019. Regarding the NIGC’s announcement Miller said:
“Tribal gaming demonstrated its responsible leadership throughout the pandemic and these record results reflect that commitment. The full recovery and ongoing success of tribal casinos go well beyond the casino floor to support vibrant communities across the country.”