US casinos set new record of revenue on 2022

FanEagle

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Quote from: Wexnident on February 06, 2023, 07:35:26 AM

I think it's safe to say with crypto having/experiencing the same thing but with a lesser amount of audience I reckon since it's being limited by it's medium (crypto), but in general, it should be the same imo. Heck, it may have even offset some of its limits by most (if not all) crypto casinos being online, which is easily accessible by a lot of users. Crypto isn't as hard to get into as well compared to the past so really, the limit I said earlier could be called non-existent at this point (or in the near future).

I guess the promotions that casinos has had in the past year of being free (mostly) from the lockdown proved to be rather effective, and people are being more lax with how they spend money (regardless of the current economic situation I guess).

I can feel that crypto casinos are making more than that because cryptos have fewer restrictions due to their decentralized state. Being that said, cryptos have more audiences than the fiat casinos. The lockdowns or the pandemic rather have helped a lot for the online business to grow big and one of the most successful is the online gambling.

Now that there are no lockdowns anymore, I think it's expected that the revenue of the online casinos will now decline by some percent as people are now back on their good old routine. They are now busy and need to allocate money on a much important things than in gambling. It's not totally a sad news though.

usekevin

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Casino was popular among all the countries.In America the people are mostly had huge funds to use for their entertainment.It may be the foremost reason for the development of more casino based websites their.This record will be the impact of the complete development casino project to the United States.The foremost part of this one is the people play the casino for their entertainment.Instead of using it to earn money.Mostly the entertainment game must be view as Commercial entertainment platform.Some people use this as the Earning tool and create some wrong tactics and loss their all money again and again.The gambling websites become a more popular one after the uplifting the crypto currency to the people.Many crypto traders use their money to inverse in the gambling and their ultimate aim to do multiple of their crypto currency using the gambling and casino.

crzy

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There’s also a surge to gambling adoption in my country, you can see a lot of advertisements online and especially in social media platform, I guess if they are true to their numbers they probably made a lot of profit last year as well. Gambling becomes more accessible online for both fiat and crypto, and if this market continues to grow probably the gambling industry will also grow more.

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I wonder if there is any study on this matter, the relation between inflation and casino revenue. Anyways, thanks for bringing this up.

Inflation can be simply said to be the expansion of the monetary base which has certainly happened. Any industry or company which does not see growth in its figures during that time is losing ground and value its quite certain to say. I would hope to see 10% growth during the recent high inflation but it was required anyway as we know there are just more dollars available to circulate globally now. BTC is a different dynamic but overall there are more people able and willing to trade and use BTC for gambling etc.

Lanatsa

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

Gambling industry is no doubt one of the most progressive when it comes to development and increasing numbers year by year.On the time that it does have some significant decline is into that time where pandemic

happened.We aren't that blind not to see up on industries which had been mainly affected into those time but now that we are going back to normal then its no surprise that gambling industry is coping up and now
breaking up some records.Same as goes on other industries as well on which it is really that progressing when it comes to revenue or something related to this.
Its no surprise actually when it comes to this matter.Speaking about places here on my country specially casinos then people are starting up to play there
when health protocols arent really that strict anymore.

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

From what I recall, betting used to be more more restricted across the USA until relatively recently when a lot of laws were relaxed and different states started competing to host these sort of companies. It's similar to cannabis laws in that way, there has been a surprising relaxation of the rules and there is a lot of money in taxes to be raised for the most accommodating local governments. It might hit a point where there is a bit of pushback but it seems like politicians and supreme court judges are concentrating on all the wrong things lately. Either way it looks like this trend will continue for a while and these US companies are likely going to start hoovering up overseas companies at some point with these huge funds available.

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Ok, you can say that gambling business is growing and with online gambling , it has even more potential to grow further, however i have one question as a food of thought.

When we say that Casino earned like 55 billion dollars in 2022, this means that the gamblers have lose this amount in gambling which eventually become the property of the gambling casino and they show that as a profit in their balance sheet. Right ?

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Quote from: Hispo on February 05, 2023, 08:53:50 PM

I guess this is another piece of evidence that gambling does not necessarily goes down during rough economical periods of time. Or are we supposed to assume it is coincidence this record of revenue happened while the United States is dealing with high inflation?

I wonder if there is any study on this matter, the relation between inflation and casino revenue. Anyways, thanks for bringing this up.

I guess even if most of the people are much affected with inflation, but that does not mean that gamblers will stop spending their money because they are eager more to save now than to spend. Maybe the reason why gambling is still in high demand because the gamblers are now more obsessed to try their luck so they can win and bring home their big bonuses and profits. It’s not anymore that gamblers gamble for fun, but this time gamblers are now eager to win more money and be more profitable.

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

And that stats were only from regulated gambling operators.

What more if there's data too about revenues from illegal gambling and add it on the whole?

It's been expected already that the gambling industry will just continue to grow as there's no way it can experience a downfall even amid an economic crash, global recession, global pandemic, and even war.

Quote from: Silberman on February 05, 2023, 08:41:20 PM

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Yes, lots of local fiat casinos are now well-known here and they are popping everywhere.

As for crypto-casinos, no need for any experiment as they just need to move forward in providing good service.

dothebeats

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Well tbh, it seems like the brick-and-mortar casinos here re not doing very well. I mean, they are still posting quite the revenue on their platforms but it's not really as record-breaking as the ones in the US. Perhaps one thing that affects this is the ongoing inflation that ravages our economy. Not a lot of people have that much disposable income anymore, and the only ones that can afford to go to casinos are the rich ones and the upper middle class people. Most are trying to save some money where they can and it's understandable. But yeah, $55 billion in revenues for casinos in just the US alone is pretty big, though not surprising at all.

uneng

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Yes, gambling in general is getting more popular where I live as well. I see this by the amount of posts on the internet from people talking about gambling online platforms and also by the fact youtubers and celebrities are promoting such services more frequently these days. Differences are hugely noticed after the pandemic. I think we could classify gambling before Covid-19 pandemic as one thing and after as another thing.

At same time, with popularity it also comes the criticisms. Many people don't know how to adopt gambling on their lives in a healthy way, so they end blaming betting platforms for the financial bankruptcy common citizens are facing in the country.

I don't blame them at all, though, because some promoters are really unethical, as they advertise casinos as a mean of making an extra income. Add this to low educational backgrounds and you will have a lot of angry newbies losing money and calling gambling services scammers.

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Quote from: molsewid on February 06, 2023, 12:40:38 PM

Quote from: Oshosondy on February 06, 2023, 12:31:43 AM

Quote from: Silberman on February 05, 2023, 08:41:20 PM

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

In my country, fiat casinos are the most dominant and I do not see much boom in crypto casinos, the only privilege that I have is this forum that I can play with cryptocurrencies easily unlike while using local casinos which are fiat casinos that do not support cryptocurrencies. But we noticed that the casinos that are accepting cryptocurrencies are increasing and they are making money as more people are now playing in crypto casinos across the world. As long as it is a casinos, more people will join and play, that is casinos by nature.

Fiat casinos? ahm you mean a traditional ones right? I just notice here my country that all the traditional ones are operating normally, though the rise of online casinos now are being known by many in here still they still not prefer to use crypto. I really admired US for having high revenue in casinos I am sure that government is very happy with this as well. Taxes that they will get will be huge as well.

They didn't count the online casinos as well as the tribal and illegal gambling which I'm not sure if they have the means to do it. This is a report from American Gaming Association.

The point of the article is that. Sports is now what people in US are up to according to the Bussmann of BGlobal since gamblers are evolved, they now treat gambling as entertainment, not a vice according to the article. Is that right? Although the economy may still face a lot of headwinds, the gambling business will still be profitable.

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Quote from: Oshosondy on February 06, 2023, 12:31:43 AM

Quote from: Silberman on February 05, 2023, 08:41:20 PM

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

In my country, fiat casinos are the most dominant and I do not see much boom in crypto casinos, the only privilege that I have is this forum that I can play with cryptocurrencies easily unlike while using local casinos which are fiat casinos that do not support cryptocurrencies. But we noticed that the casinos that are accepting cryptocurrencies are increasing and they are making money as more people are now playing in crypto casinos across the world. As long as it is a casinos, more people will join and play, that is casinos by nature.

Fiat casinos? ahm you mean a traditional ones right? I just notice here my country that all the traditional ones are operating normally, though the rise of online casinos now are being known by many in here still they still not prefer to use crypto. I really admired US for having high revenue in casinos I am sure that government is very happy with this as well. Taxes that they will get will be huge as well.

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I don't know how much the casinos around me earn because they never explain it to the public. And it's not surprising that United States casinos can get that much revenue because there are a lot of casinos that already have many regular customers who play in those casinos. And the revenue boom also happened to crypto casinos, especially during and after yesterday's pandemic, which hit many countries. And it is true that gambling has become more and more popular among other businesses and online casinos are also gaining popularity, just like offline casinos.

bittraffic

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The economy is not good and people are spending more on the products they buy groceries including eggs. People experience hardships and unemployment but we see more people gambling.

What theory I can come up I guess when a person felt hopeless like there are only a few left in his wallet, he will resort to gambling to change his fate.
Believe it. One story I heard was that this man was about to buy infant formula milk for his child but the money is not enough so he went to a gambling house and bet.

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

-snip-

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

Source: https://www.forbes.com/sites/willyakowicz/2023/01/13/us-set-gambling-record-in-2022-with-more-than-549-billion-in-revenue/

i see that the crypto-based casino industry is also experiencing the same thing,, this can be seen from the increasing number of people who are starting to gamble using cryptocurrencies .. i think that in the next few years, more people will gamble using crypto because gambling with crypto is much easier and the exchange is faster

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The gambling industry is evolving constantly. A study last year June 30 found that sports betting generated a total of $3.04 billion in revenue in America and is expected to surpass its previous record this year, with Morgan Stanley forecast to reach $7 billion in revenue by 2025. 6-10 billion revenue will come in other industries. There is no doubt that the gambling industry is moving forward in that regard.

In recent times a lot of gambling and casino establishments have emerged online with cryptocurrency. Crypto gambling platforms are constantly growing. It has gained great popularity not only in America but also in almost all countries of the world. Some gambling platforms require depositing in fiat currency, which is often problematic, but depositing in crypto is much easier.

Kakmakr

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You have to consider that the US and other countries are protecting the gambling scene with strict rules and regulations. These regulations "block" US citizens from using external online casinos. Take Stake.com (Possibly one of the largest Online casinos) for instance.... they are not allowed to operator in the US, so Stake has to create a Sweepstakes style site to operate a site in the US. Roll Eyes

A lot of countries are doing this, because they do not want money to go to other countries (capital controls) and they also want to cash in on huge fees for licensing and the taxes that are paid on that money. (winnings) Roll Eyes

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

I think it's safe to say with crypto having/experiencing the same thing but with a lesser amount of audience I reckon since it's being limited by it's medium (crypto), but in general, it should be the same imo. Heck, it may have even offset some of its limits by most (if not all) crypto casinos being online, which is easily accessible by a lot of users. Crypto isn't as hard to get into as well compared to the past so really, the limit I said earlier could be called non-existent at this point (or in the near future).

I guess the promotions that casinos has had in the past year of being free (mostly) from the lockdown proved to be rather effective, and people are being more lax with how they spend money (regardless of the current economic situation I guess).

coin-investor

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Quote from: Silberman on February 05, 2023, 08:41:20 PM

Gambling is getting more popular, just at the US casinos produced almost 55 billion dollars in revenue during 2022, an amount which surpassed the previous record that was established last year, and since any trend going on the US is most likely taking place all over the world it seems safe to assume the same is happening at many other countries.

Have you noticed this as well where you live? Are cryptocurrency casinos experimenting the same kind of boom as fiat casinos?

You just have to look around and see the number of new Crypto casinos being launched every month, if the fiat casinos are booming, much more the Crypto casino industry, just check out the number of big events major Crypto casinos are sponsoring, in fact, during the times of pandemic there's a big boom in online casinos.
New records in fiat casinos are set because people are excited to play again and they missed the ambiance of the Physical casinos.

Topic: US casinos set new record of revenue on 2022 (Read 224 times)