Gambling industry as a relevant US economic factor
In the published on Monday study [Document on English], conducted by Oxford Economics, the role of the gaming industry in the US economy is illustrated using various metrics:
- Economic power: Overall, the gaming industry contributes $329 billion to US economic output. The labor income of those employed in this industry amounts to 104 billion US dollars.
- Jobs: According to the study, the gaming industry creates a total of 1.8 billion jobs in the USA, with 597,000 people working directly in the casinos.
- Tax revenue: The gaming industry generates $53 billion in general tax revenue. In addition, the state earns around $13.5 billion from gambling taxes.
Bill Miller, CEO of the American Gaming Association (AGA), highlighted the role of gambling for the USA in a statement to iGaming Business magazine:
The U.S. Gaming industry delivers long-term growth and impact on communities by generating significant tax revenue, creating good jobs, supporting local small businesses and funding important community priorities. – Bill Miller, CEO of the American Gaming Association (AGA), Source: iGaming business
In another study, the AGA found that 71% of Americans believe the gaming industry has a positive impact on the entire US economy [Page on English]. In addition, over 80% are convinced that gambling creates jobs, promotes tourism and can improve the value of less popular regions.
Still high sales on the black market
In an earlier study from November 2022, the AGA determined that Americans around USD 510 billion would be spent annually on illegal providers [Document on English]. Gambling is currently legalized in 45 of the 50 US states, but there are still illegal activities.
A goal could therefore be to further increase the proportion of legal gambling in order to generate more tax revenue, create jobs and promote tourism. The study's figures ultimately show that gambling in the USA is generally viewed as positive.
It remains to be seen whether the gaming industry will manage to continue its growth path. One challenge could be to push back the illegal sector. It is currently unclear whether the AGA's years-long warnings not to take part in illegal gambling are enough.
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