Casino games, while they have been popular for hundreds of years, see shifts in revenue all the time. Some months or years can see specific operators or the industry at large make massive profit and then others can see a bit of a drought.
Ohio gaming operators have reported a very profitable month of October 2024. This comes via official figures from the Ohio Casino Control Commission, which show an increase from both September 2024 and October 2023. Interestingly, this spike is being credited to the good performance of table games specifically.
The official figures from the gambling space for that month were $83 million in revenues for October. For context, this is a 4.6% increase from October 2023 and a 1.7% increase from September 2024. This month is also notable because it represented a year-high in revenue from table games. In fact, the only major casino that didn’t see a massive profit increase for that month was the one that saw a decline in its table game figures.
This goes to show just how much consumers love to play these games. Another notable trend in the overall gambling space has been cryptocurrency. The asset class might have become a popular investment vehicle and even a currency for domestic purchases but the gambling sector has especially embraced it.
It is no longer unusual to see online casinos accept crypto alongside or even instead of fiat currency. This is thanks to a myriad of reasons, the least of which is the profitability of these tokens. A dollar’s value will not likely see a sudden dip or spike but a token like Bitcoin can see a sudden rise in many cases. Ironically, Bitcoin recently crossed the coveted $100,000 price point, making it one of the biggest assets in the world. So, as Carlos De Lanuza writes, many consumers are looking to explore top Bitcoin online casinos to maximise their winnings.
If the token price continues to rise in 2024 and sees benefits from pro-crypto politicians like Bernie Moreno being elected in Ohio, the rate of crypto-based gambling should only increase in 2025 and beyond.
Other benefits associated with crypto include faster transactions and great privacy, which are issues that players have faced using traditional casinos. Ohio as a state has seen very healthy iGaming numbers so far, with September representing a year-high of $842.4 million. When you compare these to the numbers coming out of land-based casinos, it is clear that consumers would rather place wagers virtually than go through the trouble of going to a casino due to the convenience.
Given the seeming upward trajectory of land-based gambling in Ohio and the consistent growth of online gambling, the revenue being generated for the state will be impressive in the foreseeable future. While the avenues through which people access gambling services are shifting to reflect technological advances, the benefits for the players, the service providers, and even the state will remain.