It was the fourth consecutive annual increase, the trade group said in its State of the States report.
The expansion helped the sports gaming market grow revenue nearly 65% year over year to $430.2 million. And in 2019, the AGA said data through April showed a 175% increase in revenue from sports betting over 2018, in the months before it was legalized."Legal and regulated sports betting barely scratched the surface of an entrenched black market — comprised of offshore sportsbooks and street bookies," the AGA said. It estimates this market accounts for $150 billion in annual bets.
But the expansion of legal gambling may prove challenging as it provides more competition for existing casinos. The Chicago market is saturated, with gross gaming revenue down 3% year over year, said Harry Curtis, a gaming analyst at Nomura/Instinet. "The first reaction by existing casinos to lower revenues should be layoffs," he said, warning of the "unintended consequences" of expansion.
Source: Gaming Daily Report (gamingdailyreport.net)
AmerGamingAssn Don't want to go to the slot-traps. I prefer mobile betting with low taxes. You know...21st Century stuff.
AmerGamingAssn And the state of Michigan is dragging their feet making it legal. They could use that money to fix the roads. Crazy idea...
CasinoCoin daniel_wwf usecase
But crackdown on other addictions! Government remains an open problem.
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