Stop if you’ve heard this before: Sports betting is taking off in the American market.
According to the American Gaming Association (AGA)’s Commercial Gaming Revenue Tracker, the first quarter of 2023 resulted in a three-month record revenue total of $2.79 billion. That’s a 70.1% increase year-to-year and a slight improvement over the previous quarterly record of $2.61 billion from Q4 2022.
The sportsbooks’ huge wins were a byproduct of a new record betting handle of $31.1 billion, a 15.1% increase. And there is no reason to believe that they will slow down any time soon.