U.S. Bettors Wager Away $157 Billion in 2022, Casinos Remain Dominant Despite Broadening Market

American gamblers last year amassed an approximate loss of $157 billion, according to research from Eilers & Krejcik Gaming, a consultancy in California that focuses on the casino, gaming, and lottery sectors.

The legalization of sports betting across thirty states in the US since 2018 has affected the landscape of gaming, while online gaming continues to grow, with six states now allowing interactive slot machines and table games.

Brick-and-mortar casinos still dominate the industry, with their gross gaming revenue (GGR) amounting to a total of $91 billion. When the revenue of online gaming and sports betting tied to a physical casino is included, the total GGR of casinos, or “legacy gaming”, is $98 billion. This accounts for a substantial 63% of the $157 billion gambled in 2022.

Lotteries were the second-highest in terms of losses, with players spending an estimated $35.5 billion, though this figure is a 1.3% year-on-year drop.

The US labor market has kept consumer spending steady, with Bank of America noting that credit and debit card spending per household increased 2.7% in comparison to the previous year. In Nevada, GGR topped $1 billion for a consecutive 24th month, highlighting the continued support for the US gaming industry in the face of global economic instability.