The US’ gambling industry continued its recovery in August and was helped largely by record sports betting figures.
Players wagered $2.1 billion, which put $119.4 million in the pockets of licensed sportsbooks in the country.
Sports betting was bolstered by the resumption of major events towards the end of July, as well as competitions that were soon to kick off at the time.
Sports betting a significant contributor
The $119.4 million generated by sportsbooks across the country was the second-highest-ever sports betting yield. It was also a 90.4% year-on-year rise, bolstered by the resumption of the NBA and MLB’s continuation. Fans also looked towards the NFL campaign, which got underway in September.
Meanwhile, the $2.1 billion wagered by players was 174.8% higher than had been the case in August 2019.
New Jersey was the most popular state for sports betting, with operators taking $668 million in stakes. This was not only 127.5% higher than the same month last year; it was also the highest-ever sports betting handle figure in the US.
Nevada came in second, with players in the Battle Born State placing $474.5 million on sporting events. Pennsylvania came in third at $300 million, with Indiana performing well at $169 million. Colorado’s strong start to regulated sports betting also continued, with players wagering $128.6 million over the whole month.
New Jersey was also the leading market for revenue. Regulated sportsbooks shared $39.5 million between them, representing a 56.5% annual jump. Pennsylvania’s sports betting market made $27.6 million, with Nevada coming third at $17 million.
Online gaming also grew
Non-sports-related online gambling also rose significantly. Operators generated $145.3 million in revenue from such verticals.
Land-based gambling produced more fruitful results than July, but continuing COVID-19-related safety measures had an impact on how much casinos could bring in. Retail gaming generated $3 billion in revenue, which was up by 4% month-on-month but 19.8% lower than in August 2019.
A spokesperson from the American Gaming Association (AGA) had the following to say about August’s results for the US gambling industry.
“Nine states showed signs of continued recovery in August, with reduced year-over-year revenue declines compared to July.
“Eight states reported gaming revenue approaching last year’s level, despite continuing to operate with limited capacity, game availability, and non-gaming amenities.”
Based on the latest figures released, the US’ gambling industry has generated $17.5 billion in revenue for the year-to-date. This is 39.4% lower than last year. However, online gaming’s $923.1 million is 203.3% higher than in 2019.