The value added of the gambling and betting industry in the US displayed considerable fluctuations from 2013 to 2023. The early period between 2013 and 2016 saw moderate growth, followed by a decline through 2017 and 2018. A notable recovery occurred from 2019 to 2021, peaking at 26.26 billion USD in 2021. However, this peak was followed by a steep decline in 2022 before stabilizing in 2023. The industry stood at 21.09 billion USD in 2023, a 3.97% increase from the previous year.
Year-on-year variations were particularly significant during the pandemic-impacted years, with a marked decline in 2020 and a subsequent rebound in 2021. The average annual growth rate (CAGR) over the past five years has been 1.51%, indicating moderate recovery potential.
Future trends to watch for:
- Technological Innovations: The integration of AI and VR in gambling platforms.
- Regulatory Developments: Potential new regulations at state and federal levels.
- Consumer Preferences: Shifts towards online and mobile gambling solutions.
- Economic Factors: The impact of economic downturns or growth on discretionary spending.
