The third quarter in the American gambling industry showed a significant increase in revenues, overpassing Q2 by 293%. Even though the financial increase was crucial, Q3 2020 was still worse than the same period a year ago. Login Casino analyses the latest financial news and informs its readers about the most important numbers in the US gambling sector.
Reaching more than 9 billion dollars in the gross gaming revenue (GGR) in the third quarter is an astonishing economic result compared to $2.3B in the second quarter. However, in the year-over-year (YoY) comparison, 2020 Q3 was still almost 20% lower than the same period in 2019.
Such significant growth is related to the reopening of gambling venues across the states where gambling is legal. Some states even showed a positive YoY balance. Although South Dakota, Pennsylvania, Ohio, Mississippi, and Arkansas showed year-over-year growth between 3.8% and 7.5%, it is still a positive tendency in the post-quarantine period that promises fast recovery.
Financial rates by the gambling activity
Traditionally, in the US, the essential part of the total revenue belongs to slots, which generate about 65% of the whole finances in gambling. Almost $5.9B was a 350% upgrade compared to Q2, but 19% lower than a year ago.
The second place in the balance sheets takes table games activity, which brought about $1.6B in Q3 2020. Compared to the previous three-month period, it is a 447% rise, while the YoY rate dropped by 31%.
Another astonishing Q2-Q3 increase was in sports betting, where almost 450% helped to receive more than $350M. Interestingly, this niche showed even a positive YoY balance but due to the bookmaking opening in four new states.
The most unusual numbers belong to the igaming sector, which grew up only by 8% compared to Q2 but by 232% in YoY comparison. Experts claim that this has happened thanks to opening related venues in West Virginia in July. Totally, the iGaming industry brought $435M in the third quarter of 2020.
Read more: What is GGR and how does it differ from NGR?