“Not only has the industry bounced back from the pandemic but the industry has expanded,” says Bussmann.

Sportsbooks across the state generated $1.4 billion off those wagers.īrendan Bussmann, the managing partner of B Global, a consulting firm focused on gaming and hospitality, says it’s a good sign that the industry racked up two years of record-setting revenue after getting crushed by the pandemic in 2020. In the Empire State, bettors wagered a total of $16.7 billion through mobile app during the market’s first year in operation, according to the New York State Gaming Commission. New York, meanwhile, has become the country’s largest sports betting market. The Silver State has also been on a remarkable winning streak as gamblers have spent more than $1 billion a month for 21 consecutive months. Through the first 11 months of 2022, casinos in Nevada generated $13.5 billion in gaming revenue, up 10.2% over 2021, according to the Nevada Gaming Control Board. In Nevada, the country’s epicenter of gambling, the state’s casinos already broke last year’s historic revenue record of $13.4 billion by November.

Size of online sports betting industry