US online casino states set revenue record
March has emerged as a pivotal month for regulated iCasino platforms, showcasing remarkable growth for operators across the board.
The phrase “records are meant to be broken” aptly applies to March’s online casino revenue, with figures not just broken but thoroughly demolished.
In March, operators across the seven US states with regulated digital casino platforms achieved an extraordinary $905.6 million in gross revenue, marking a substantial 26.2% increase compared to the previous year.
This month serves as a crucial juncture for many operators, particularly as they cross-promote online casino gaming alongside mobile sports wagering. The NCAA Tournament, the premier annual sports betting event in the United States, spans multiple weeks and attracts a diverse array of bettors, particularly novices and casual players. This influx presents a prime opportunity to introduce them to various gaming verticals.
Notably, all seven states reported year-over-year growth rates in gross or adjusted gross revenue exceeding 20%, with each setting new monthly records in at least one of these categories. Pennsylvania, for example, approached a remarkable $300 million in gross winnings—a figure that seemed nearly unattainable at the end of 2023 when it first breached the $200 million mark.
State governments also significantly benefited from this revenue surge, receiving a total of $177.1 million in March from $827.6 million in adjusted gross revenue. This figure does not account for additional distributions made at local levels, yet it represents a $41.1 million increase from the previous year.
The Contributions of the ‘Small 4’
While much focus has rightfully been placed on Pennsylvania, Michigan, and New Jersey—each of which achieved unprecedented monthly highs for operator revenue (all exceeding $240 million in gross and $235 million in adjusted gross revenue)—the importance of the remaining four states cannot be overlooked.
For instance, Pennsylvania’s platforms not only grossed $291.6 million but also surpassed its adjusted gross revenue from March 2024, which stood at $238.2 million compared to $230.6 million from the same timeframe last year.
Achieving a national record necessitates similar growth dynamics across all states, affirming that collaboration among operators is key for sustained success.
For an in-depth analysis and further updates, stay informed with the latest trends and developments in the regulated US online casino and iGaming industry.
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