Americas gaining on Europe in iGaming revenue
Vixio Forecasts Significant iGaming Growth in the Americas, Rivalling Europe Soon
A recent report by Vixio reveals that online casino revenue in the Americas is projected to reach an impressive $56.3 billion by 2028, positioning it to potentially match Europe’s robust market.
Currently, only seven states in the US have legalized regulated iCasino operations. Notably, New Jersey, Pennsylvania, and Michigan have collectively exceeded $685 million in revenue during the first three months of 2025. These states achieved remarkable milestones, with each setting new all-time monthly revenue records, culminating in over $816.1 million in total operator winnings in March alone.
“Before 2018, the global online gambling landscape was primarily Euro-centric,” remarked James Kilby, Chief Analyst at Vixio. “However, the recent legalization of sports betting and iGaming across various US states, along with significant markets in Ontario and Brazil, has coincided with increasingly stringent regulations in Europe, hampering growth in some key areas.”
Anticipated Continued Double-Digit Growth
According to Vixio’s projections, the impressive double-digit year-over-year growth that has characterized the US iGaming market for over a year is expected to expand into Canada, Latin America, and South America in the near future.
The report estimates a compound annual growth rate (CAGR) of 20.3% across these regions from 2023 to 2028, with revenue increasing from $22.3 billion to $56.8 billion. Ontario stands out as a rapidly expanding market, with the province reporting $684.8 million CAD (approximately $495.5 million USD) in revenue for the first quarter of 2025—marking a remarkable 33.8% increase compared to the same period in 2024. Moreover, the total internet casino drop in Ontario has consistently surpassed $6 billion CAD (around $4.35 billion USD) over six months, peaking at $6.6 billion CAD ($4.79 billion USD) in March.
In contrast, Vixio anticipates steadier, albeit reduced growth for European operators in the short term, with revenues expected to rise from €30 billion ($33.34 billion USD) in 2022 to €37.3 billion ($41.45 billion USD) by 2026.
For in-depth insights, read the full report here.
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