While nationwide slot and table game revenue were down compared to the third quarter of 2019, sports betting and iGaming saw significant gains and geographic expansion.
After a second quarter marred by widespread sportsbook shutdowns and a limited calendar of major sporting events, sports betting revenue bounced back strongly in Q3, bolstered by an unusually crowded sports calendar and the rapid growth of the legal, recently legalized markets in Colorado, D.C., Illinois, and Michigan. Nationwide sports betting revenue reached $352.3 million, the second highest ever
quarterly total (bested only by Q4 2019 at $374.9 million). That revenue came from Americans wagering $5.95 billion on sports nationwide in Q3 2020 - the highest ever quarterly sports betting handle.
West Virginia became the fifth state to operationalize iGaming with its July launch, joining the four additional iGaming markets across the country. Nationwide, iGaming generated $435.0 million in Q3 (excluding Nevada online poker), up eight percent from the preceding quarter and 234.2 percent from Q3 2019.
While iGaming's growth continues to be impressive, Q3 was the first quarter since Q2 2018 with a slower rate of growth compared to the preceding quarter, possibly linked to the ongoing reopening of brick-and-mortar casino locations.