Published on: 20/Dec/2024
The US has enjoyed another great year for gambling and big developments have taken place that are likely to shape the future of land-based and online betting.
US Gambling Stats in 2024
Yet again the US finds itself as the country with the largest amount of active gamblers with 58 million. This is roughly double that of the UK and Germany, its two closest rivals.
Revenue figures of almost $70 billion in the US also puts it way ahead of its closest rivals and statistics show that the average annual spend among US gamblers is $261.
US Online Gambling in 2024
The online gambling industry in the US has enjoyed growth in recent years as more states pass legislation to allow different betting markets to operate.
The country’s online casino industry still has a long way to go with only seven states allowing licensed operations. Rhode Island was the latest to allow online casino gambling when its first sites opened on the 5th of March, 2024.
US consumers in states where online casinos are prohibited can access offshore operators, with only the running of online casinos outlawed. Online operators licensed in external jurisdictions have enjoyed rising popularity among US consumers, with Curacao-licensed ‘Stake’ seen as a market leader.
Bettors looking for casino sites like Stake have a great choice of alternatives, with competitive bonuses and a variety of games and payment methods. Most importantly, the top sites offer consumers safe and secure international gambling.
The online sports betting industry in the US is far more widespread than online casinos, with Mississippi, North Carolina, and Vermont joining 35 other states (plus Washington, D.C., and Puerto Rico).
The success of the online sports betting industry in the majority of US states has helped to pave the way for discussions about other legislative changes that could see more states allow online casino operations in the future.
With consumers already having access to offshore options thanks to smartphone adoption, the new legislation would give local governments greater control and the ability to protect consumers. It would also generate significant revenue streams that could go into community projects and the improvement of local infrastructure.
New York, Iowa, and Maryland have all had positive discussions around regulatory change, and these seem the most likely states where change could occur in the coming years.
The Biggest Stories from the US Gambling Industry in 2024
2024 has seen a variety of key events that have had an immediate effect on the gambling industry, but will also have long-term implications.
The Presidential Election’s Political Impact
The US presidential election made headlines around the world as news broke that Donald Trump would return for his second time as President, replacing Joe Biden. This news had an immediate impact on certain industries including the crypto and gambling industries.
Predictions that the new political regime in the country will be positive for sports betting and iGaming. This news saw an upturn in industry share values, as well as in the crypto industry.
The cryptocurrency industry has a symbiotic relationship with online gambling, with the two developing at a similar time and the gambling industry being one of the first to embrace crypto and blockchain technology.
The New York Casino License Race
News that downstate New York was set to distribute three licenses for casino operations sparked a lot of discussion and rumors. Some of the biggest casino operators in the country have thrown their hat in the ring with bids, including Las Vegas Sands and MGM Resorts.
Some proposals have faced issues with proposed casino development sites, with one close to the High Line facing criticism from community groups.
All Change in Vegas
Las Vegas has had an interesting year that has seen the closure of both the Tropicana and Mirage casinos. The Tropicana was one of the oldest casinos on the strip, operating for 67 years before it was torn down to make way for the new Oakland Athletics baseball stadium.
The Mirage closed its doors in July in preparation for its transformation into the Hard Rock Casino which will also feature a 700ft hotel in the shape of a guitar.
While these two fixture of the Vegas Strip have closed their doors, one of the newest additions has faced some staffing issues. The Fontainebleau which opened in 2023 saw two key executives leave their positions in early 2024, and the casino has also been embroiled in a legal battle with Wynn Las Vegas Sands.