iGaming Thrives in April, Breaking Records Across the Nation
U.S. Online Gambling Records Impressive Growth in April, Surpassing $869 Million Mark
The iGaming industry is on a roll, with seven US states generating a staggering $868.6 million in revenue in April alone. This figure represents a 32.5% year-on-year increase, according to recent reports.
iGaming's Unstoppable Momentum
Each state offering online gaming experienced a year-on-year growth of at least 25%, as per the latest report. These impressive figures show the industry's rapid expansion, with over $213 million added to the total revenue compared to the previous year.
Although the April results slightly dipped compared to the record-breaking $900 million recorded in March, experts remain optimistic about the future of the industry.
Excluding Michigan and New Jersey, the remaining states clocked a total gaming handle of approximately $10.2 billion. Pennsylvania accounted for a significant portion, handling around $7.5 billion, while Connecticut surpassed $1.6 billion in handle again.
Lining the State Coffers
Taxable operator revenue reached $787.9 million in April, resulting in $169.3 million in taxes, up $43.9 million from April 2024. However, this figure does not include local taxes and tribal disbursements.
Revenue Boom Across the Board
Pennsylvania and Connecticut led the pack, demonstrating consistent iGaming growth. Pennsylvania notched up $282.8 million in iGaming revenue, making it the top online casino state. Connecticut, meanwhile, saw increased competition between FanDuel and DraftKings, resulting in $31.6 million in gross revenue, up 38.3% year-on-year.
Michigan and New Jersey reported revenue of $248.1 million and $235.2 million, respectively. Delaware and Rhode Island, despite slower starts, witnessed explosive growth in revenue. BetRivers, Delaware's iGaming operator, recorded $9.9 million in gross revenue, marking a nearly twofold increase from April 2024. Bally's, Rhode Island's sole iGaming provider, fared even better as its revenue almost tripled to $9.9 million.
The iGaming Juggernaut Rolls On
The iGaming industry is experiencing a significant growth spurt, thanks to the expansion of legalization in key states and technological advancements. In 2024, iGaming revenue surged by 28.7% to $8.4 billion across seven states where it is legal. This growth is part of a broader trend where the industry is projected to reach $56.3 billion in gross gaming revenue by 2028, with the US alone expected to contribute $41 billion.
Traditional performers like New Jersey and Pennsylvania have been joined by Michigan and Connecticut in the race for iGaming dominance. Rhode Island, previously holding a smaller market, has also shown promising growth since its launch. The repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018 triggered this market expansion, while mobile gaming and digital payments have driven growth by increasing accessibility and convenience for users. The growth of mobile gaming platforms, offering users the ability to gamble on the go, has further expanded the market.
- As technology continues to evolve and drive convenience, the iGaming industry is leveraging it to introduce mobile gaming platforms, allowing users to enjoy casino games while on the move.
- With the emergence of sports betting apps, the iGaming sector is seeing a fusion of technologies, such as artificial intelligence and machine learning, to provide immersive and personalized gaming experiences, merging sports and casino entertainment.
