US consumers have spent a record amount on gambling. And, with growth forecasted to continue, brands in gambling must stay relevant to capture attention in this competitive industry. This gambling market report provides consumer data and relevant opportunities to drive engagement. Below, we’ve provided the core topics analyzed and hand-selected findings from the report.
Core Topics Analyzed
- Gambling industry market size and forecast, overall as well as casino gambling, lottery, and pari-mutuel betting.*
- How economic and legal changes can affect the future gambling landscape.
- The LGA (legal gambling-aged adult) segments driving growth in various areas of gambling.
- Younger gamblers’ demands regarding the gambling experience, loyalty, and concerns about the industry’s effects.
- How casinos and lotteries are spending their digital ad budgets.
- Opportunities to stand out in the crowded field of betting.
*note that sports betting is covered extensively in Mintel’s sports betting market report.
US Gambling Market Overview
With record spending, the gambling industry has stepped up to show that it has both recovered well from the pandemic and can sustain in times of high inflation, even when consumers might be more wary about leisure spending. A soft landing is still possible, and forecasted market size growth reflects this.
Gambling Market Trends
Which demographics are driving growth?
The future of gambling in the US is being shaped by younger legal gambling-aged adults (LGAs). This is true for both casinos and iCasinos, with strong growth also in sports betting. iGaming will be important as it continues its rapid growth trajectory and contribution to gambling revenue. On the flipside, lotteries are struggling to attract younger LGAs. While moving toward online might help, it’s important to address LGAs’ secondary motivations.
Motivations for gambling
The idea of winning money remains the main motivation for gambling. Yet, appealing to secondary motivations like excitement and fun will be the key to success for different types of gambling. With this in mind, outlets should relate the exciting aspects of their games beyond simply winning money; the games need to be inherently fun to play.
What’s Next for Gambling?
Event travel is a key trend among younger consumers, as over 80% of Gen Z and Millennials cite a live event as the main reason for taking an overnight trip. Casinos with event venues are poised to take advantage of this by focusing on hosted events like concerts and festivals in their advertising.
Buy the full report and reveal the comprehensive analysis of opportunities in the US gambling industry.
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Meet the Expert
Mike joined Mintel in 2018 as a Travel & Leisure Analyst. Mike writes primarily about consumers’ travel preferences, building on his professional background at Groupon Getaways and Travelzoo, as well as his personal passion for travel.
The gambling industry is strong, with Gen Z and Millennials representing much of the growth in participation. Catering to their needs is key to keep things rolling.
Mike Gallinari
Senior Travel & Leisure Analyst
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Executive Summary
- What you need to know
- Consumer trends: key takeaways
- Market size and forecast
- Segment overview
- Market predictions
- Opportunities
- A new game can spark energy for a new generation
- Lead with events to capitalize on experience-hungry consumers
- Communication is key
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Market Dynamics
- Market context
- Market drivers
- High consumer confidence could mean bolder wagering…
- Graph 1: Consumer Sentiment Index, 2010-24
- …though a sour economy can lead gamblers to press their luck
- Graph 2: Consumer Price Index change from previous period, 2018-24
- iGaming again stakes its claim as a big part of gaming revenue
- Unregulated iGaming sparks response from governments, large platforms
- Sports betting has had a rapid, sometimes controversial, rise
- Rules refresh on tribal gaming creates more iGaming competition
- Concern about gambling addiction can hamper gambling growth
- Graph 3: index of “gambling addiction” searches on Google, 2019-24
- Market size and forecast
- Gambling expenditures rose 7.7% in 2023, staking a new industry high
- Consumer spending and forecast of total gambling market
- Market segmentation
- Casino gambling continues to expand across the country
- Fan chart forecast of casino gambling
- Total spending and forecast on casino gambling
- Lottery spending continues to hit it big
- Fan chart forecast of lottery spending
- Total spending and forecast on lotteries
- Pari-mutuel betting threatens to get crowded out
- Fan chart forecast of pari-mutuel betting
- Total spending and forecast on pari-mutuel betting
- Market share/brand share
- Casino company revenues
- MGM executes well across a diverse profile
- Caesars poised to ride iGaming revenue
- Wynn focuses on the luxury sector
- Penn Entertainment maneuvers to be a big online player
- Boyd’s foot traffic trips, but iGaming soars
- Despite gains, Bally’s faces crisis
- Lotteries of all types are cleaning up
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Consumer Insights
- Consumer fast facts
- Betting history, frequency and interest
- Gambling continues to grow in popularity
- Casinos and sports betting are driving growth
- Graph 4: betting types in the last 12 months, 2022-24
- Sports betting is piquing the most interest, daily fantasy sports shows the greatest gain
- Graph 5: betting interest in the next 12 months, 2022-24
- Gen Z and Millennials are driving gambling’s growth
- Graph 6: betting types in the last 12 months, by generation, 2024
- Younger LGAs are eager to gamble, but the top earners need more incentive
- Graph 7: gambling frequency compared to last 12 months, by generation and by HHI, 2024
- Gambling operators have untapped interest in Black and Hispanic LGAs
- Graph 8: casino-style and sports betting history and interest, by race and Hispanic origin, 2024
- Gambling motivations
- Everyone wants to win, so capitalize on excitement to stand out
- Graph 9: motivations for gambling, 2024
- Fire Link is the gold standard for building suspense
- Approach young LGAs from the experience angle
- Graph 10: motivations for gambling, by generation, 2024
- Online gamblers thrive on competition; in-person gamblers on vibes
- Graph 11: motivations to gamble, by betting type, 2024
- Good at Hot Shots? D&B says put your money where your mouth is
- Eating and drinking while gambling
- Refreshment and gambling go together like aces and kings
- Gen Z snacking? Bet on it
- Graph 12: preferred snack consumption while gambling online, by generation, 2024
- Graph 13: preferred snack consumption while gambling in-person, by generation, 2024
- Doritos pyramid was anything but mid
- What kind of snacks grab attention?
- Gen Z looks for the energy to keep gambling
- Millennials want to keep the fun going through interesting alcohol options
- Loyalty program rewards
- Casino loyalty programs are evolving to mirror other industries
- Cash rules everything around (loyalty) members
- Offer bets and partner discounts to make programs more robust for younger LGAs
- Graph 14: top three preferred gambling loyalty program rewards, by generation, 2024
- Experiences are a value-add to high-middle HHI gamblers
- Graph 15: top three preferred gambling loyalty program rewards, by HHI, 2024
- MGM should include its Bonvoy partnership in communications to mid- to upper-income level gamblers
- Balancing celebrity endorsements with brand image
- Caesars Sportsbook opts for both actors and athletes
- Younger LGAs are fine with endorsements, but be wary
- Graph 16: attitudes toward gambling endorsements, by generation, 2024
- Lotteries could use celebs in acquisition, but casinos may lose face
- Graph 17: attitudes toward gambling endorsements, by betting history, 2024
- Familiarity may breed contentment
- Graph 18: attitudes toward gambling endorsements, by number of betting types, 2024
- Desired revenue share
- LGAs look kindly on betting operators that share the wealth
- Graph 19: desired recipients of shared gambling revenue, 2024
- Texas Lottery puts vets first during the holidays
- Gen Z is creating a shift in social funding priorities
- Graph 20: desired recipients of shared gambling revenue, by generation, 2024
- Different betting formats can cater to their bettors
- Graph 21: desired recipients of shared gambling revenue – select items, by betting type, 2024
- Sharing revenue with multicultural communities can increase affinity with related bettors
- Graph 22: desired recipients of shared gambling revenue, by race and Hispanic origin, 2024
- Bally’s faces backlash for aggressive strategy in Asian communities
- Attitudes toward iGaming
- Dangers of iGaming are a barrier to higher-earning LGAs
- Graph 23: concerns about online gambling (any agree), by generation, by race and Hispanic origin and by HHI, 2024
- iGaming may be facing a trust issue with its target audience
- Graph 24: attitudes toward iGaming (any agree), by generation, 2024
- VR is cool, but not practical (for now)
- Graph 25: attitudes toward VR casino gambling (any agree), by HHI, 2024
- Industry leaders will adopt AI-driven tracking and recommendations
- Graph 26: attitudes toward AI in gambling, by generation, 2024
- AI is for wider appeal, and not catering to current VIPs
- Graph 27: attitudes toward AI in gambling (any agree), by HHI, 2024
- Gambling barriers
- Highlighting fun as part of gambling’s value could sway some male holdouts
- DraftKings Casino goes for low barrier for entry
- Increase in betting ads spur worries about addiction
- Graph 28: attitudes toward gambling addiction – nets, 2024
- Highly engaged gamblers may be cavalier about addiction
- Graph 29: attitudes toward gambling addiction – nets, by number of betting types, 2024
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Innovation and Marketing Trends
- Launch activity and innovation
- New Knockout 52 game poised to sweep casino tables
- Knockout 52 in action
- Marriot Bonvoy partnership aligns with MGM Rewards members’ current behaviors
- State lotteries consider CTV in their ad strategies
- Mega Millions mulling mega increase
- Jackpocket Subscriptions makes growing iLottery segment more appealing
- Tech partnership brings more seamlessness to lottery purchases
- Nostalgia for Ms. PAC-MAN sparks a burst of recent interest
- Casino marketing and advertising
- As in gaming, rewards come to big spenders
- Graph 30: online ad spend share and impression share of select casino brands, 2023-24
- MGM spent big on video, but social had the best return
- Graph 31: MGM Resorts International online spend and impressions share, by platform, 2023-24
- Caesars may pivot to mobile-first strategy
- Graph 32: Caesars Entertainment online spend and impressions share, by platform, 2023-24
- Caesar’s mobile ad benefits from good timing
- Wynn displays a good knowledge of their specific targets
- Graph 33: Wynn Resorts online spend and impressions share, by platform, 2023-24
- Boyd and Penn’s tactics appear to reflect an iGaming push…
- Graph 34: Boyd Gaming online spend and impressions share, by platform, 2023-24
- Graph 35: Penn National Gaming online spend and impressions share, by platform, 2023-24
- …though Boyd’s strategy turns toward the physical world
- Bally’s sunk a lot into OTT with little return
- Graph 36: Bally’s online spend and impressions share, by platform, 2023-24
- AI-quality video is unlikely to endear viewers
- Lottery marketing and advertising
- Lotto commissions have a narrower platform focus
- Graph 37: share of online ad impression by five select state lotteries, by platform, 2023-24
- Graph 38: share of online ad spending by five select state lotteries, by platform, 2023-24
- Florida: Fun in the Sunshine State
- California focuses on humor to attract its diverse audience
- New York Lottery hits on New Yorker’s favorite topic: being New Yorkers
- Massachusetts smaht-ly hits on New England’s culture
- Trends and opportunities
- Put events first to attract young travelers
- Graph 39: reasons for event travel, by Gen Z and Millennials, 2024
- Spectacle and legacy brings travelers in
- “Arizona Adventure” seeks to spark wanderlust
- Tribal casinos can capitalize on interest in learning about marginalized cultures
- Use the past as a hook for new gambling products
- Don’t you forget about the past
- Kid-friendly? Or city of sin? Luxor targets adults that want to fit in with both
- More robust search technology can improve the iGaming experience
- Betting outlets benefit from instant payouts
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Appendix
- Market definition
- Consumer research methodology
- Generations
- Abbreviations and terms
- Forecast methodology
- Forecast fan chart methodology
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