The gross output of the US gambling industries (excluding casino hotels) has shown a generally positive trend from 2013 through 2023, with occasional fluctuations. Notably, 2020 saw a significant decline due to the COVID-19 pandemic, but the industry rebounded strongly in 2021 and 2022. The value stood at $47.33 billion in 2023. Year-on-year variations have ranged from a high of 13.65% in 2022 to a low of -14.93% in 2020. Over the previous five years, the Compound Annual Growth Rate (CAGR) has averaged 2.39%. Looking ahead, forecasted data suggests a more moderate average growth rate of 1.7% annually from 2024 to 2028, indicating a more stable yet steady growth trajectory.
Future trends to watch for include:
- Changes in regulatory frameworks which might impact the industry's dynamics.
- The integration of digital and online gambling, which could drive future growth.
- The potential impact of new technologies such as virtual reality and blockchain on consumer engagement.
- Socio-economic factors and their influence on disposable income available for gambling.
