Sports Gambling drives the US gaming recovery

The American Gaming Association (AGA) has released their new update on Commercial Gaming Sales Tracker, which shows the ongoing recovery of the market by 6.3 percent from September to October.

The study highlights some key results, in particular gaming sales of $3,38 billion, equal to 93% of October 2019 revenues. Six states—Colorado, Iowa, NJ, Ohio, Pennsylvania, and South Dakota—were largely motivated by heavy sport betting and igamation in October 2019.

It also noted that Americans are expected to have invested over $3 billion on football, making legal sports betting in the history of the United States the biggest month.

October is potentially the best month in the history of legal sports as Americans have bet at least 2.82 trillion dollars on sports across 17 Member States and the District of Colombia. (It is estimated that this figure will reach $3 billion since the October Study for Illi was published

The study reveals that in all but two Member States, sportsbooks accepted more money than in every previous month in October for sports betting. Although Nevada posted an all-time state handle, for the third consecutive month, New Jersey smashed the national handle record. Global sports betting handles rose 48 percent in the first ten months of 2020, while revenues increased 33 percent during the same timeframe of 2019.

After the historic low point of April, October was the sixth consecutive month of recovery for the trade gaming market. Virtually every jurisdiction for commercial gaming showed strong evidence of continued recovery in October, even though its power, game availability and gaming facilities are still small.

Ohio posted a fourth year-over-year rise in gaming revenue, with sales increases in South Dakota in the past 5 months each. Operating good sport betting and igamation success also saw sales increases in Colorado, Iowa, New Jersey and Pennsylvania in October 2019. All but four of the other commercial gaming jurisdictions posted either increased profits or decreased sales from September on a year-over-year basis.

Though sports betting and igaming are the most noticeable forces behind the recovery of gaming, legacy gaming still strengthens month after month. Slots and table games combined GGR grew by 3.4 percent in October from September to 2.98 billion USD, which is 86.6 percent from October 2019 in the market.

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