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- US Gambling Overview Market Report 2024
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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