The total gross revenue of online casinos in seven U.S. states reached $635 million in May 2024
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.
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