written and last updated by
Sam Smith at
04 Jul 2024
Journalist, Editorial Department
In May 2024, the combined gross revenue of online casinos across seven U.S. states reached $634.8 million (approximately 55.8 billion rubles), marking a 27.6% increase compared to the same month last year. This May also became the second most profitable month in the history of iGaming in the U.S., surpassed only by March 2024, which recorded $678.4 million (around 59.6 billion rubles).
Michigan led the pack with total revenue of $198.6 million (17.5 billion rubles), followed closely by New Jersey with $192.1 million (16.9 billion rubles), and Pennsylvania at $174.1 million (15.3 billion rubles). Each of these markets reported significant year-over-year profit growth, with increases of 31.9%, 19%, and 23.5%, respectively. Together, these states accounted for 89% of the total iGaming revenue in the U.S.
Other markets also reported financial successes for May 2024. In Rhode Island, which legalized online casinos only this year, Bally’s is currently the sole operator. Despite this, the company generated $2.2 million (193.3 million rubles) in revenue, contributing $1.1 million (96.66 million rubles) in taxes to the state.
Connecticut set a new gross revenue record in May, reaching $46.3 million (over 4 billion rubles). West Virginia saw a remarkable year-over-year increase of 61.6%, bringing its revenue to $16.8 million (1.48 billion rubles). Delaware's online casino profits tripled, totaling $3.9 million (342.7 million rubles).
Currently, the iGaming segment is legal in only seven U.S. states, but experts predict rapid growth for the industry. This expansion is expected to be driven by advancements in mobile technology, improved payment solutions, and increased trust in cryptocurrencies. According to Statista, the U.S. iGaming market is projected to generate over $23 billion (more than 2 trillion rubles) in revenue this year, with estimates suggesting it could rise to $35.21 billion (3.1 trillion rubles) by 2029.
In comparison, the iGaming market in the UK reported a 5% increase in gross revenue, reaching £1.4 billion.
