In 2023, the “commercial gaming industry” which includes casinos and sports betting services collectively earned more than $66 billion, a 10% jump from 2022.
In the following graphic, Visual Capitalist’s Marcus Lu ranks the top 10 U.S. states by the amount consumers spent on gambling in 2023.
Data for this graphic and article is sourced from the American Gaming Association.
Which State Has the Highest Gambling Spend?
Unsurprisingly, Nevada attracts the most gambling spending in the country at $15 billion. However, Pennsylvania and New Jersey both saw over $5 billion spent in 2023.
The top 10 states collectively accounted for 74% of America’s total gambling spending in 2023.
| Rank | State | 2023 Revenue | YoY Change |
|---|---|---|---|
| 1 | Nevada | $15.5B | +5% |
| 2 | Pennsylvania | $5.9B | +10% |
| 3 | New Jersey | $5.8B | +11% |
| 4 | New York | $4.7B | +12% |
| 5 | Michigan | $3.6B | +10% |
| 6 | Ohio | $3.3B | +42% |
| 7 | Indiana | $2.8B | -2% |
| 8 | Louisiana | $2.7B | +4% |
| 9 | Illinois | $2.5B | +18% |
| 10 | Maryland | $2.5B | +14% |
| 11 | Mississippi | $2.5B | -4% |
| 12 | Iowa | $1.9B | +1% |
| 13 | Missouri | $1.9B | +1% |
| 14 | Massachusetts | $1.7B | +47% |
| 15 | Colorado | $1.5B | +5% |
| 16 | Virginia | $1.1B | +98% |
| 17 | West Virginia | $806M | +7% |
| 18 | Rhode Island | $708M | +3% |
| 19 | Florida | $691M | 0% |
| 20 | Arkansas | $687M | +12% |
| 21 | Kansas | $588M | +23% |
| 22 | Connecticut | $580M | +39% |
| 23 | Arizona | $557M | +15% |
| 24 | Delaware | $507M | +3% |
| 25 | Tennessee | $458M | +21% |
| 26 | New Mexico | $271M | +3% |
| 27 | Maine | $175M | +6% |
| 28 | Oklahoma | $151M | 0% |
| 29 | South Dakota | $148M | +3% |
| 30 | Kentucky | $112M | N/A |
| N/A | U.S. | $66.7B | +10% |
Note: Figures rounded.
The American Gaming Association notes that the commercial gaming industry grew in 32 of the 36 states they cover in their report. Only Washington D.C., Florida, Indiana and Mississippi saw their gambling spending contract.
Meanwhile, Kentucky legalized sports betting in 2023, (full casinos are still illegal) and immediately saw more than $100 million spent in the year. Ohio, Massachusetts, Nebraska, and Maine also legalized sports betting last year.
Land-based “traditional” casinos also had a bumper year, attracting nearly $50 billion in gambling spending, up 3% compared to 2022.
The gambling industry’s revenues have only been growing in the last few years. Access to platforms through smartphones, the 2018 Supreme Court decision that removed restrictions on sports betting, and the pandemic, have all contributed.
Experts point out that while gambling is “a terrible get-rich-quick scheme for individuals,” it’s a “much better one for states.” Nevada, a state with little in natural resources, is a prime example.
If you enjoyed this article, check out Visualizing the Tax Burden of Every U.S. State which measures the percent of an average person’s income paid towards local taxes.
Source: Zero Hedge
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