In the summer of 2024, the National Council of Legislators of Gaming States (NCLGS) proposed to legalise online gambling in all states, as it is the one that generates stable income, unlike sports betting. The corresponding bill has already been created. Its discussion by officials was to begin in August, and the final set of rules was to be determined in December 2024.
As of mid-summer 2024, online betting in the US has been legalised in 38 states out of 51, as well as the District of Columbia, when online casinos are only available in 7. According to the data, US gambling revenue in Q1 2024 has already reached a record $17.67bn. The total GGR of the online segment reached $5.31bn and for the first time accounted for 29.3% of the total quarterly GGR.
However, while legalised operators are gaining momentum, offshore operators are already ‘collecting the cream’: in 2023 grey iGaming brought GGR of $9.5bn in three key markets: New York (only betting is legal), New Jersey (only online gambling is legal) and Minnesota (iGaming is illegal). Three states continue to host more than 800 unlicensed operators.
Today, the black market of online gambling has complete freedom of action in the US, as the legalisation of iGaming in different states requires more time to move through the legislature, which is not the case with sports betting. This is probably due to scepticism on the part of authorities and offline casino operators, who fear that online gambling will completely ‘strangle’ land-based establishments.
But third-party researchers, regardless of online gambling legalisation, predict that within five years, the online industry is set to experience an even more impressive compound annual growth rate (CAGR) of 16.52% from 2024 to 2029, attributed to an entrenched gambling culture and the rapid development of sports betting in the country. But given the potential mass legalisation of online casinos, the US iGaming market could ‘explode’ in 2025, in which case we will be talking about a completely different growth rate and GGR.
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