The holiday season is known for boosting gambling. This year, it’ll round off what has already been a record-breaking year for U.S revenue. The festive season is traditionally a time to be more generous and indulgent, which is reflected in boosted sales for most industries due to increased holiday shopping, a greater focus on entertainment activities, and special promotions. iGaming is no exception, and as bettors look for festive ways to win, online casinos offer extra bonuses, and key sporting events like NBA and Super Bowl seasons get ready to kick-off, gambling operators and states have big expectations for this holiday season.
States getting an extra holiday gift
In 2021 U.S gambling revenue figures (internet and retail) surpassed $4bn. for eight consecutive months – a new monthly record. In total, for the year to date, according to October’s figures, the U.S gambling industry hit revenue of $43.43bn – that’s up 19.8% compared with the same period in 2019, and almost outranks the 2019 year-end total (American Gambling Association, 2021). Given that we are now in December, it’s safe to assume the 2019 totals have already been outperformed.
With more players engaging in betting and new states regulating and launching internet gambling, it’s been a record-breaking revenue year in the U.S. Michigan started the year with online casinos launching in January 2021 and surpassing revenue expectations, followed by Connecticut, which went live last month. These two states join a total of six U.S internet casino states, all of which expect recording-breaking revenue figures for this festive season.
With internet gambling figures boosting the revenue, states that have regulated online gambling are seeing skyrocketing tax income, which is well demonstrated by New Jersey. NJ was the first iGaming state in the U.S, and therefore, it’s one of the most developed markets.
Figures from the New Jersey Department of Gaming Enforcement (NJDGE) report that the total gaming revenue for October 2021 is $448.7 mn. compared to $338.1 million in October 2020 (a 32.7% increase with internet gaming accounting for $127mn.). For the year-to-date, gaming revenue in this state has increased massively, providing substantial tax revenues to the government.
Generally, internet gambling, and therefore tax revenue, increases throughout the year, with players spending most during November and December. The NJDGE reported that in 2020, the total internet tax revenue for December in New Jersey was almost double that of the start of the year in January. It seems that the states are collecting pretty hefty holiday bonuses for themselves.
One of the main reasons gambling revenue increases during this time of year is that operators make gambling more tempting. Bringing more players into the game with irresistible holiday offers and promos that stimulate spending ensures that U.S online gambling states like New Jersey are guaranteed an extra gift this holiday season in the form of healthy tax streams.
How to take advantage of holiday bonuses
With seasonal deals in the air and plenty of opportunities, there are multiple ways for players to get involved and take advantage of the available promotions at U.S gambling sites. For players in newly-regulated states, like the Great Lakes State, this will be the first time to enjoy festive Michigan online casino bonuses. Due to this, operators and regulators expected unprecedented tax and revenue increases.
Even though it’s nice to know that part of the money spent on gambling is pouring back to the states in taxes, it’s even better when it’s going straight back to the players – with interest. Of course, winning is never certain when gambling but at least online casinos are making it fun for the players. Typical promotions at this time of year include themed tournaments and holiday game promos, festive giveaways and competitions, bigger and more generous bonuses, and festive loyalty perks like free spins or discounts.