US gambling industry sees fourth consecutive month of growth in August

The American Gaming Association (AGA) has compiled August revenue figures within the United States gambling industry, to show growth for the fourth consecutive month. With a crowded sports calendar, it helps to push the industry to a higher revenue total. In total, players wagered $2.1 billion for the month via sports betting, which pushed revenues to $119.4 million, the highest-grossing month for the US ever recorded.

Online Gaming and Sports Betting Boost

The totals were increased by a rise in online gaming and sports betting. Online gaming earned just over $145 million, which was an increase of over 224% from last year. For sports betting, the return of the NBA, MLB, and NFL helped to boost bets.

New Jersey was the leader when it came to betting handle, with $668 million for the month. They earned 127.5% more in August this year than the same month last year. Nevada was next in line with $474.5 million in bets. Pennsylvania was not far behind with a $365 million handle. Indiana and Colorado were able to squeak over the $100m line, seeing $169 million and $128.6 million in bets respectively.

A spokesperson for the AGA said that nine states were able to show signs of continued recovery via August totals. The year-over-year revenue declines were reduced in August when compared to July. Eight states were able to report gaming revenue nearing last year’s level even though venues are operating at limited capacity, with fewer games and non-gaming amenities.

Trying to Recover

Gaming operators in the United States are trying to recover after being affected by COVID-19. August was the fourth month in which the recovery of the gaming industry was prevalent, with nationwide revenues up over 5% from July.

However, the land-based sector continues to be impacted by the virus and gross gaming revenue in August across all products, as well as channels, was down almost 20% to $3 billion, year-over-year.