Gambling gives the US economy a $329bn boost

The social and economic impact of gambling has often been a hotly debated topic. Some have been worried about the rise of issues such as problem gambling, bankruptcy due to gambling, and break of family ties.

Others have focused on the quantifiable data that puts the value of the gambling industry in the United States alone at $329bn to the country’s economy, according to a new report published by the American Gaming Association.

The industry brings some very serious numbers in, commented AGA President and CEO Bill Miller during the State of the Industry at G2E 2023, citing that more than 700,000 people are directly employed in the industry. However, the industry together supports 1.8m jobs simply because there is a large supply chain that creates demand for services, equipment, and know-how.

The people employed in the industry include some 600,000 jobs that are directly on-site at casinos or corporate offices with another 23,000 in gaming manufacturing and another 89,000 working in businesses that provide goods and services to casino patrons during their visits to gambling locations.

A total of $104bn is paid in wages and salaries in the United States, and local, state, and federal governments enjoy a windfall of $52.7bn in tax. This tax coin proves invaluable in the support and sustenance of local public programs and services, which range from economic developments to education, to state general funds, and more, AGA notes.

Public perception is not far behind, as 71% of American adults are now inclined to say that the gambling industry has a positive impact on the country and the economy. Presently, the country has as many as 45 states and the District of Columbia that support gambling in some form – either commercially or through tribal operations.

The organization’s Commercial Gaming Revenue Tracker has shown that the industry continues to grow and expand, creating various economic benefits in its wake.

The gambling industry also generated $150.3bn of direct spending in 2022, the research notes, with the bulk of that going to commercial casinos at $79.9bn and the rest split between gaming manufacturers ($8.3bn), Native American casinos ($46bn) and Catalytic Spending ($13.5bn).

All in all, the American gambling industry continues to be an originator of economic boon, although consumer protection measures are now tightening to ensure that this rapid growth is not coming at the expense of livelihoods and people suffering.

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