This week’s gambling news is all about the money! US gambling has just hit an all time high in revenue, with Nevada’s streak of consecutive billion dollar months leading the way! Plus, there’s a new state leader for sports betting in America!
Hello friends, and welcome to This Week in Gambling, where the numbers are in and the records have been broken… and that is this week’s big story! US gambling just hit an all-time high! Casinos, sports betting, and online gaming collectively brought in $55 billion in 2022, beating the old record of $53 billion. And they did it in less than a year! You see, gambling revenue across the nation came to $54.9 billion… and that in just the first 11 months of 2022. The figures for December aren’t even in yet, so this number will most definitely go higher.
Even more impressive is that these numbers do not include the nearly 500 tribal casinos spread out across the country. And last year those casinos collectively generated almost another $40 billion! Meanwhile casinos in Nevada continued their streak of billion dollar months in revenue continued in November, stretching all the way to 21! And that means that they, too just set an all-time record for gambling revenue in a year with only 11 months being reported so far. The state was still able to add to the record breaking US gambling totals by generating $13.5 billion in 2022, thanks mostly to the continued success of slot machines, table games, and of course sports betting.
And speaking of sports betting, it’s now legal and regulated in 36 states, generating billions of dollars all by itself! But no state makes more money from sports betting than New York state. Even though regulated sports betting only launched their last January, the state already ranks fifth in revenue for the past five years! But an even funnier thing happens when you start talking about taxes. With an outrageous sports betting tax rate of 51%, New York jumps to the front of the line, leapfrogging all the other states to rank number one in taxes collected for the past five years! And it’s not even close! Yes New York made more in sports betting tax in just one year than states like Nevada and New Jersey have made in taxes over the past five years!
This week’s game review is for the Trinity Reels online slot, a six reel, Arabian themed game from our friends at Betsoft. This game features bonus spins, wild and Scatter symbols, cascading reels, and over 177,000 paylines! You can find the full review for Trinity Reels, along with hundreds of other games, when you visit our YouTube channel. If you want to read more about the record US gambling totals, follow this link to the original story!