American Gaming Association study touts substantial contribution to U.S. economy

A study commissioned by the trade association American Gaming Association and conducted by Oxford Economics reports that over the period 2014 t2017 the US gambling industry improved its contribution to the US economy by 10 percent to $261 billion.

Gambling-related companies delivered $40.8 billion in federal, state and regional government tax revenues, with the federal government benefitting most at $18.6 billion.

The industry provided jobs for almost 1.8 million people, including 727,000 posts directly involved in gambling.

“The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers,” said Sara Slane, the AGA’s senior vice-president of public affairs in presenting it to the public, commenting that the numbers are set to grow following the recent Supreme Court decision which has liberalised and widened the availability of sports betting.

Oxford noted that $89 billion of consumer spending at casinos – including $73 billion of spending on gaming – was considerably more than the $76 billion spent on attending sports events last year.

See the full Oxford study report here