the regulated gambling industry is worth over $125 billion
By 2021, the regulated gambling industry in the United States has been estimated to be worth over $215 billion. Revealed by a report published by the media outlet PlayUSA.com, this figure is only likely to grow as the country’s various federal jurisdictions take turns legalizing online casino games and sports betting.
In terms of revenue alone, PlayUSA.com places the U.S. gambling industry above even the 32 National Football League (NFL) franchises and the combined GDPs of the states of South Dakota, North Dakota, Wyoming and Montana.
The regulated U.S. gambling market is decidedly colossal
PlayUSA.com conducted an extensive investigation to determine the revenues generated by the U.S. gaming industry, both land-based and online combined. The study is based on the cumulative value of a large number of elements such as the turnover of commercial and tribal casinos, the sale of retail lottery games and the tax returns of online sports betting operators.
For example, according to PlayUSA.com, the overall revenue of the U.S. gambling industry is more than double the annual U.S. foreign aid budget and far exceeds the $34 billion that President Joe Biden recently pledged for his student debt cancellation plan.
Interviewed by PlayUSA.com, Alan Feldman, a responsible gambling expert and emeritus fellow at the International Gaming Institute, an organization affiliated with the University of Nevada, Las Vegas, explains that the success of the U.S. gambling industry was preordained as long as it became legal and regulated: ” I remind you that in the 1500s, the first immigrants to this country were already having fun on the long boat rides. When it was necessary to go to America and Europe, they already played craps and roulette “.
And Alan Feldman, convinced that a passion for the game is part of the DNA of the American people, continues, ” The $215 billion figure seems right to me and doesn’t surprise me because the American gambling industry, led by the commercial and tribal casinos, realized that gambling had to be made fun and healthy. They have succeeded in giving people a reason to come, to relax and have fun. It’s no longer all about the big winnings you can get at the slot machines, for example “.
How much are the various segments of gambling in the United States valued at?
According to PlayUSA.com, the U.S. lottery gaming market is worth approximately $105.2 billion. By comparison, the nation’s 466 or so commercial land-based casinos would have generated about $53 billion in 2021. In addition, tribal gambling establishments generated about $39 billion in revenue. Pari-mutuel betting brought in $12.2 billion for the operators involved. Finally, California gaming venues, which primarily offer slot machines, generated $5 billion.