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This Week in Gambling: Online betting in America fuels gambling industry

24 Jun 2021

A week full of gambling news finds that online betting is giving the recovering American gambling industry a big boost. We also look at another Las Vegas casino grand opening, and learn of the passing of a Fremont Street icon.

As the gaming industry recovers from the pandemic, we are seeing record numbers for online betting all across America. Pennsylvania online gambling is performing as well as any, generating nearly $99 million last month. The jump in numbers is over 75% higher that May of 2020. It is also a 10% increase over April of this year. So what does that mean for Pennsylvania taxes? The state realized over $27 million in tax profits from online betting alone!

Then, as the rest of the American gambling industry enjoys a rebound, New Jersey gambling revenue has rebounded as well... thanks to online betting! The New Jersey Division of Gaming Enforcement reported that total gaming revenue in the state rose 290% from last year at this time. In May of 2020, the state only made $96 million.

Online gambling in New Jersey helped a lot, generating over $108 million, while sports betting brought in nearly $53 million. The jump in New Jersey gambling revenue means that the state realized close to $38 million in taxes. Las Vegas hit the $1 billion mark month in March… it’s first such month since the pandemic began. And in April, gambling revenue across the whole country hit $4.4 billion, which was nearly a record.

This video also features our time with Lane Lassiter, the Michael Jackson impersonator who frequented Fremont Street. Sadly, we lost Lane in 2017.

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