All-In on iGaming: AGA Reports $8.41B Pot for US Online Casinos
US Commercial Gaming Revenue Reached $71.92 Billion in 2024
A Safe Bet or a Split Pot?
Online casino revenue in the U.S. soared to $8.41 billion in 2024, marking a 28.7% year-over-year increase, the American Gaming Association (AGA) reported on Wednesday. This notable jump reflects the ongoing expansion of legit gambling sites in states willing to embrace the digital shift.
The AGA’s annual report also showed that all six iGaming markets, established before January 1, 2024, achieved revenue records, propelling overall US commercial gaming revenue to an unprecedented $71.92 billion in 2024.
This performance represents the industry’s fourth consecutive year of breaking its own benchmark. The upward trajectory is a sign of growing interest in gambling regulations for online casino platforms and traditional land-based venues, according to experts.
Despite the success of mobile gambling apps, as of February 2025, only seven states have approved an online casino bill:
- Connecticut
- Delaware
- Michigan
- New Jersey
- Pennsylvania
- Rhode Island
- West Virginia
Rhode Island was the last one to join the party after launching in March 2024.
Yet, amid the confetti and celebration in the states that hit the jackpot, some industry voices in other jurisdictions have raised concerns about the cannibalization of brick-and-mortar revenue and the heightened risk of problem gambling to oppose the approval of online gambling regulations.
However, AGA CEO, Bill Miller, counters that fears of cannibalization are a split pot, noting states like New Jersey have seen both digital and retail sectors grow in tandem.
🎙️ During our State of the Industry webinar, AGA President and CEO @BillMillerAGA provided a high-level look at key trends that impacted the gaming industry in 2024.
Watch the full webinar that includes our priorities for 2025 ➡️https://t.co/dudcA8mn2j pic.twitter.com/rRxnsPpX3o
— American Gaming Association (@AmericanGaming) February 19, 2025
Breaking Down the iGaming Boom
Michigan, New Jersey, and Pennsylvania dominated the charts, each logging impressive year-over-year gains.
Overall, online casino gaming now accounts for 11.7% of the total US commercial gaming revenue, a jump from 9.7% the previous year. However, traditional betting casinos did increase by only 0.8%. While it’s still increasing, it’s clear that iGaming’s growth rate indicates that more players are shuffling over to digital tables.
Industry analysts point to improved technology, broader game selections, and a rising comfort level with remote wagering as key factors in the rapid ascent of mobile gambling apps.
Industry Buys In
Major operators have welcomed these numbers, announcing plans to expand their online casino portfolios and explore new state markets as soon as legislation allows.
Looking ahead, some analysts project annual iGaming revenue could approach $20 billion by 2030 if more states roll out online casino regulations.
Legislative Bill Shuffle
Several states have already shuffled the deck for 2025 and have made casino news headlines by introducing and discussing measures that could expand the footprint of online gambling in the US.
@Toth_4_Texas It’s time to legislate & vote for Sports Gambling in Texas. Off the top you take 15% for Education & 10% for Texas Power grid and this Billion dollar industry can be a new revenue & job source for the State! How much Texas $ is spent in Louisiana?
— Clay Thomas (@IntimidateThis) February 20, 2025
Lawmakers in Illinois took another spin at online casinos earlier this month, after filling two iGaming bills.
Meanwhile, lawmakers in Maryland are discussing House Bill 17, which proposes online gambling regulations designed to direct a slice of tax revenue to local education and infrastructure. However, the issue seems to have slowed down in the last week.
Folding
However, in Virginia, Senator Mamie Locke’s Senate Bill 827 has been delayed until 2026. As for Wyoming, the latest attempt to approve iGaming fell short in the state legislature last week.
From the vantage point of 2024’s record-setting performance, it’s clear that online casinos are more than a fad. The fast-evolving sector continues to hit the jackpot in markets where gambling regulations have been put in place.
Whether new states decide to double down on expansion or fold under pressure, one fact is indisputable: the odds strongly favor the ongoing success of virtual casino games in America.
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