According to a press release by the American Gaming Association (always working to improve the lives and morals of Americans), “Americans wagered 30.3 billion on sports” in Q3 2024. [American Gaming Association] This of course only counts legal sports betting, for example bets like those placed on the official gambling app of our nation’s capital. According to the press release, this legal sports gambling “generat[ed] $3.24 billion in quarterly revenue (+42.4 YoY).” I noted while reading the summary that “legal sports betting” generated more revenue than iGaming in Q4 2024 ($3.24 billion vs $2.08 billion) but substantially less than “[t]raditional brick-and-mortar casino gambling” ($12.28 billion). However, both sports betting and iGaming saw significant YoY increases (the latter was +30.3 YoY) while traditional gambling saw a tiny contraction (-0.9 YoY).
Things I Learned: Sports Gambling in Q3 2024
Americans legally wagered $30.3 billion on sports [in Q3 2024], generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.