- American Gaming Association CEO Bill Miller delivered the 2024 state of the industry address this week
- U.S. gaming revenue reached an annual record of $71.92 billion in 2024
- Nationwide sports betting revenue reached $13.71 billion
The U.S. gaming markets achieved record-setting 2024 revenues, according to the American Gaming Association’s 2024 state of the industry address.
American Gaming Association CEO Bill Miller delivered the address this week, reporting record setting revenues across all U.S. gaming markets, including sports betting and iGaming.
“In 2024, Americans embraced the diverse legal gaming options available to them—whether in casinos, at sportsbooks, or online—leading to another record-setting year for our industry,” Miller said. “As we build on this success, the AGA remains committed to fostering additional growth that benefits consumers, operators, and communities alike.”
Record Setting Revenues, But AGA Warns of Illegal Markets
According to the AGA, U.S. commercial gaming revenue reached an annual record of $71.92 billion. The total surpassed 2023’s previous high of $66.5 billion by 7.5%, the fourth-straight year of increased revenues.
“Commercial gaming continues to demonstrate unprecedented success. 2024 was another record year for the industry. Commercial gaming revenues reached $72 billion, which is 7.5% growth compared to the year before. Much of this growth is due to the continued expansion of online gaming and sports betting,” Miller said.
Online gaming in 2024 generated a record revenue total of $21.45 billion, according to the AGA.
Sports betting continues to grow in the U.S., Miller noted. Revenues reached $13.71 billion, a 25.4% increase from 2023’s record of $11.04 billion.
The iGaming industry also grew by 28.7% in 2024 when compared with 2023, totaling $8.41 billion in the seven states with full-scale legal iGaming.
Additionally, brick-and-mortar casino slots and table games generated a record revenue of $49.78 billion in 2024.
However, Miller warned the industry’s success makes it a target for illegal operators and the illegal gambling market as a whole.
“They try to profit off the reputation for responsibility that we’ve worked so hard to build, exploit consumer confusion between legal and illegal operators, run through regulatory loopholes, and as a result threaten to undermine public trust in gaming as a whole,” Miller said.
Miller took aim at online sweepstakes as well. It’s no secret that the AGA is not a fan of the boom of online sweepstakes casinos and Miller noted that they “deploy legal acrobatics to avoid calling themselves betting or gambling.”
“Only then to offer products that most universally would agree is gambling, yet without the safeguards and regulatory constraints that build consumer trust, promote responsibility, and support state budgets,” he said.
Sweepstakes Association Fires Back
After Miller’s address, the Social & Promotional Games Association (SPGA), an association of social and promotional gaming platforms that operate inside the United States, published a press release decrying several of Miller’s points regarding sweepstakes gaming.
According to the SPGA, properly operated sweepstakes are legal in most states and function within well-established legal frameworks.
The SPGA noted that online sweepstakes games and operators do not directly compete with the gaming industry as a whole. As the AGA noted, 2024 was another record year for the gambling industry, which the SPGA said does not sound like “an industry under dire competitive pressure.”
“Finally, the AGA knows its claims of irresponsible operation by social sweepstakes sites are misleading. SPGA members operate under a published Code of Conduct requiring age verification, location verification, KYC systems and processes, and AML policies and processes, often employing the exact same technology as AGA members. And most social sweeps sites have tools in place to allow consumers to control their play and pay some form of state tax, such as sales or corporate tax,” an SPGA spokesperson wrote.
The American Gaming Association (AGA) recently released its annual report for 2024, revealing record-breaking gaming revenues across the country. The report highlighted a total of $50 billion in gaming revenue for the year, marking a significant increase from previous years.
One of the key highlights of the report was the continued growth of the legal gaming market in the United States. The AGA noted that the expansion of legal sports betting and online gaming had contributed to the overall increase in revenue. In particular, the report pointed to the success of states like New Jersey, which had seen a surge in gaming revenue thanks to its robust online gaming market.
However, alongside the positive news of record revenues, the AGA also expressed concerns about the rise of illegal gambling markets in the country. The report highlighted the prevalence of illegal sports betting operations, particularly in states where sports betting had not yet been legalized. The AGA warned that these illegal markets posed a threat to both consumers and the integrity of sports competitions.
To combat the growth of illegal gambling, the AGA called for increased regulation and enforcement efforts at both the state and federal levels. The association also emphasized the importance of educating consumers about the risks associated with illegal gambling and promoting responsible gaming practices.
Overall, the AGA’s report for 2024 painted a picture of a thriving legal gaming industry in the United States, but also underscored the need for continued vigilance in addressing illegal gambling activities. By working together with regulators, law enforcement agencies, and industry stakeholders, the AGA believes that it can help ensure a safe and secure gaming environment for all Americans.
