US casinos set new record of revenue on 2022

[Silberman]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

[Hispo]

I guess this is another piece of evidence that gambling does not necessarily goes down during rough economical periods of time. Or are we supposed to assume it is coincidence this record of revenue happened while the United States is dealing with high inflation?

I wonder if there is any study on this matter, the relation between inflation and casino revenue. Anyways, thanks for bringing this up.

[Fundamentals Of]

This new record by the casinos in the US does not include crypto casinos. But even if crypto casino revenue is included, I think it doesn't make much difference because most crypto casinos are not licensed in the US. They are mostly based in Curacao. So the big revenue of large crypto casinos like Sportsbet, Stake, and many more cannot be included in US casino revenue computation.

Where I live, I haven't observed any noticeable growth in casinos. The casinos here are the same old casinos, no additions, no extensions.

[Don Pedro Dinero]

While I have no doubt that the gambling market is a growth market in itself, the regulatory issue will have something to do with it. Three states legalised sports betting in 2022.  

I haven't found out about other types of gambling but it seems to me that the USA is in the process of legalising gambling in states where it is currently banned, and obviously that has an effect on the total.

[Zlantann]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

I am very surprised that gambling firms' revenue increased even in the face of global economic crises. I tried to get data on the revenue of casinos in my country for last year and they are not currently available. But research has shown that as citizens have access to mobile phones and Internet facilities it results in an increase in online betting which ultimately leads to more revenue. And last year more people had access to internet facilities in my country.

I do not doubt that last year was a profitable one for casinos in my country because this year more casino companies are being established, existing ones are signing lucrative promotion and endorsement deals with celebrities and other organizations, and more people are turning to gamble as a side hustle due to current economic challenges.

[ralle14]

Yup, it's noticeable from where I live since i've been seeing countless gambling ads than usual. I guess it's also because of the states that recently allowed online gambling, I only found that out due to the group that i'm following, and I was surprised by the number of promotions that are being offered by several fiat sportsbooks. Most crypto casinos will probably experience an increase but I think it won't be similar to what the US casinos are currently going through right now since crypto casinos have a different player base and only a few of them have a sister site that only focuses on US players.

[Strongkored]

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Of course, only countries that legalize online gambling will have statistical records, because the owners of online gambling sites will report their activities and pay taxes and from paying these taxes it will be seen how much money their citizens spend on online gambling.
It will continue to increase if cryptocurrencies continue to grow in popularity day by day

[Oshosondy]

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

In my country, fiat casinos are the most dominant and I do not see much boom in crypto casinos, the only privilege that I have is this forum that I can play with cryptocurrencies easily unlike while using local casinos which are fiat casinos that do not support cryptocurrencies. But we noticed that the casinos that are accepting cryptocurrencies are increasing and they are making money as more people are now playing in crypto casinos across the world. As long as it is a casinos, more people will join and play, that is casinos by nature.

[AmoreJaz]

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

In my country, fiat casinos are the most dominant and I do not see much boom in crypto casinos, the only privilege that I have is this forum that I can play with cryptocurrencies easily unlike while using local casinos which are fiat casinos that do not support cryptocurrencies. But we noticed that the casinos that are accepting cryptocurrencies are increasing and they are making money as more people are now playing in crypto casinos across the world. As long as it is a casinos, more people will join and play, that is casinos by nature.

fiat-based casinos will still be the dominant ones when it comes to revenue. however, i believe crypto casinos are also increasing its revenue owed to the number of online crypto casinos that we have been seeing these days. just take for example, stake - you can already see high rollers betting on this site. drake alone will give good profits on them. a lot of people are back to their jobs, so no wonder some of them are back to their gambling activities.

[worle1bm]

I guess this is another piece of evidence that gambling does not necessarily goes down during rough economical periods of time. Or are we supposed to assume it is coincidence this record of revenue happened while the United States is dealing with high inflation?

I wonder if there is any study on this matter, the relation between inflation and casino revenue. Anyways, thanks for bringing this up.

I think the most of the people are turning towards gambling in these fiat based casinos because they want to try their luck and see if they win some huge amounts changing their fortunes to tackle with growing inflation as we see in the reports.The fiat based casino system has always being generated good revenues but these times are proving to be more beneficial for casinos and governments through taxes as people tend to win more and interested in wagering over these casinos.

[iv4n]

I am sure that Serbian casinos (or maybe better to say Balkan casinos) are setting up new records every year in the past 5 years! Land-based casinos are almost on every corner, if not a few of them (different companies), and when it comes to online casinos you simply can't miss all those ads on TV and almost everywhere else.
And I am talking about fiat casinos, crypto is still not so "popular" here. We are moving in the same direction as the world does, but as always we are doing it very slowly. I guess there's some progress, but nothing significant most likely.

[robelneo]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

Yes indeed I live in a country where we follow countries like the US, online casinos is very popular in our country but one of that kind become illegal because of abuse, this is online sabong but there are a lot of casinos that are being promoted locally here in our country, majority of cellphone users here in our country free paid and postpaid are receiving text offers from unregistered local online casinos.
This is the main reason, why our government pass a law that all cell phone users must register their sim whether prepaid or postpaid.
Online casinos are booming because by nature we are gamblers, or prone to gambling.

[blockman]

It's no doubt that the gambling industry is a lucrative business because it isn't so, there wouldn't be those gambling capitals and states in different parts of the world.

Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Yes, we're seeing the booming industry of the crypto casinos and they've been there for how many years. If it's not profitable then the profitable ones won't be continuing with their operations up until now. But, what we see is that there have been new additions on this industry and as well as the known and old ones keeps on operating but there have been those that have been out of the business.

[Mauser]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

I am not sure about the gambling industry in my country, because we had so many lock downs during covid where all the physical casinos had to be closed. As far as I know all of the casinos got cheap loans from the state to not go out of business. The three big casinos near my hometown are all open again and quite busy from what I heard from friends. The thing is that I just don't know if it's all profits for them now or if they still have to repay the covid loans. Rent is probably one of the highest cost factors as they are all placed at prime locations. So it could be that it will take another 2-3 years to fully recover from the covid restrictions. As for online gambling, I know it's very popular since the lock downs as well. Competition is high, but so are the profits. I think 2022 was a great year for all the online casino and so will be 2023.

[gunhell16]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

Does that mean there are so many gamblers in the US and so many rich people in their country too? Gambling is legal for them.

We just don't know if it does that much in a year, but what I do know is that there are a lot of gamblers here and rich people who are involved in the cryptocurrency gambling industry. But here in our country, I think the average of those who gamble via online has increased due to the promotion of influencers on various social media platforms.

[BenCodie]

I guess this is another piece of evidence that gambling does not necessarily goes down during rough economical periods of time. Or are we supposed to assume it is coincidence this record of revenue happened while the United States is dealing with high inflation?

I wonder if there is any study on this matter, the relation between inflation and casino revenue. Anyways, thanks for bringing this up.

I think it is a matter of people getting desperate during harder times, so they take more irrational risks in an attempt to fix their problem. People who usually would not gamble in normal times then get drawn in and likely form a problem. At the same time, casino revenue would most likely be swayed more by the whales than average people. It could be a better indicator of how the whales are doing financially than the economy, which mostly just effects normal people more than it does whales.

[danherbias07]

Even with a bad economy huh? Well, that should be obvious as the number of gambling advertisements is also soaring especially in the sports industry.
Just in NBA, how many commercials were there on local sports channels, DraftKings, Fanduel, BetMGM, and more...
This probably enhanced the number of fans that can now make their bets even while watching the game and even the commentators are giving out information about how much the odds were before the game started and then an update on halftime.
The number of gambling sites is increasing and so does the gamblers who before were just enjoying the game but now adding more fuel to the excitement by spending a few bucks for their favorite team.

[swogerino]

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

I don't know for the country where I live in right now as gambling has been banned since 2019 but on January of this year they pass the new legislation to make it legal again and as so I have seen a boom in lotto clubs where people play sport betting while slot machines are only allowed in big casinos that have a valid government license,small clubs are not allowed anymore to have these type of slots which they could house before 2019.

I personally am playing the same amount of crypto I play since 2020 and do not over pass 100 dollars weekly as the maximum amount spent,I don't know but I am assuming the more crypto gets widespread adoption the more the crypto casinos will see a boom in revenues.

[EarnOnVictor]

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

It's not a surprise that casinos are improving in earnings, people are getting bored these days as the adult population is increasing, and they are using the casino to pass time. This is an eye-opener to people that still want to channel their money somewhere, casino investment is still poorly tapped in many countries, they could start little and grow big with time.

As for your question, have never seen a crypto casino in my area. Nevertheless, the area we live in might not be a determinant here because many people living in a country are running offshore crypto casinos. I realized that crypto casinos are mainly online than offline which are more of an offshore establishment.

[len01]

I'm not sure when I last remembered that gambling was legalized in my country, but what is certain is that until recently gambling in my country was prohibited and did not generate any income from the gambling industry.
but even though gambling is prohibited in my country, some gamblers have switched to online gambling to be able to bet as they wish and there are still many who gamble in my country.
I imagined if gambling in my country was legalized it would make a good income for the gambling industry to support the country's economy, but it seems impossible.

speaking of the crypto casino boom, maybe in the last year crypto online gambling also experienced a big boom like Stake.com.
some time ago Stake.com shared the total bets for the past 1 year and the numbers were also very large.
in this story I think all the increase in the field of the entire fiat as well as online casino gambling industry has occurred because of the increasing trend in Slot gambling.