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Online Casinos Rake in $5.3B in Revenue in March: Best Month So Far
Since online gambling has been legalized in states across the U.S., the country’s gaming industry has seen soaring revenues.
Michigan online casinos alone raked in $162.1 million in the month of March, and online casinos and sportsbooks have pulled in a whopping $5.3 billion nationwide.
That number doesn’t even include the revenue brought in by tribal casinos.
One of the biggest worries from lawmakers would be if legalizing online gambling would be “worth it”. But it seems as though both states and online gambling platforms are getting the last laugh, as tax revenues from online betting pulled in $1,290,201,362 between June 2018 and May 12, 2022.
Granted, one portion of that revenue is earmarked for safe and responsible gaming practices and support for problem betting. And it isn’t only safe gaming programs that will see the advantage of expanding betting across the country.
States are putting that revenue to good use, earmarking funds for public programs and services. Just one of the state departments to get a boost in its budget may be education.