Market Size of US Online Gambling Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.12 Billion |
| Market Size (2029) | USD 10.98 Billion |
| CAGR (2024 - 2029) | 16.52 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Online Gambling Market Analysis
The US Online Gambling Market size is estimated at USD 5.12 billion in 2024, and is expected to reach USD 10.98 billion by 2029, growing at a CAGR of 16.52% during the forecast period (2024-2029).
After the pandemic, the market gained certain momentum and the money supply chain moved, the consumers were seeking certain platforms to promote their capital portfolio, for instance, some of the consumers invested in stocks whereas some of them preferred online gambling platforms, this was because they were offered with several game types and were also easily earning the profits from the capital invested. Thus, the pandemic has resulted in a growth of the United States online gambling market from the third quarter of fiscal 2021.
The rising demand of consumers towards gaining profits in a short time is one of the primary reasons that is boosting the United States online gambling market. Furthermore, gamers in the country are often considered digital natives and are generally considered to rely heavily on technology. Currently, New Jersey is the largest market for regulated online gambling in the United States. Over a dozen legal and licensed online casino sites and poker rooms compete for an overall market. Several sportsbooks and online sports betting apps are live in the state.
Moreover, casino gambling has been one of the rapidly growing online gambling categories due to its convenient usage and optimal user experience. With the advent of technology, there has been the widespread implementation of virtual reality, blockchain, and mobile platforms in the gambling industry across the world. Hence, vendors utilize software suppliers, such as Evolution Gaming, to integrate and develop consumers' gaming experiences. Furthermore, the live casino market is still at a nascent stage in the country, owing to stringent regulations. However, software providers, like Ezugi and Evolution Gaming, have been granted licenses to provide their live dealer games in New Jersey.
US Online Gambling Industry Segmentation
Online gambling (or Internet gambling) is any kind of gambling conducted on the internet. The United States online gambling market is segmented by game type and by end users. Based on game type the market is segmented into sports betting, casino, and other game types. Based on casino game type the market is further segmented into live casinos, slots, baccarat, blackjack, poker, and other casino games. The market is also segmented by end-users in online gambling which include desktop users and mobile users. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Game Type | ||||||||
| Sports Betting | ||||||||
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| Other Game Types |
| End User | |
| Desktop | |
| Mobile |
US Online Gambling Market Size Summary
The United States online gambling market is experiencing significant growth, driven by a shift in consumer behavior post-pandemic. As individuals sought new avenues for investment, online gambling platforms became increasingly popular due to their diverse game offerings and potential for quick profits. This trend is particularly evident among digital natives, such as millennials and Gen Z, who are comfortable with technology and prefer online betting. New Jersey stands out as a leading market for regulated online gambling, with numerous licensed online casinos and sports betting apps. The integration of advanced technologies like virtual reality and blockchain is enhancing user experiences, although the live casino segment remains underdeveloped due to regulatory challenges. The deep-rooted cultural acceptance of gambling in the U.S. is further evidenced by the presence of major casino companies and the substantial revenue generated by commercial gaming.
The market's maturity is underscored by the presence of both domestic and international players, such as MGM Resorts International and 888 Holdings PLC, who are actively expanding their footprint through mergers, acquisitions, and strategic partnerships. The growing interest in sports betting, fueled by consumers' knowledge and understanding of sports, is a key driver of market expansion. Enhanced security protocols and user-friendly platforms are attracting more users to online gambling. Companies are investing in research and development to improve their offerings and cater to diverse consumer preferences. Recent developments, such as the launch of advanced sports betting platforms and strategic agreements, highlight the competitive landscape and the ongoing efforts to capture a larger share of the burgeoning U.S. online gambling market.
US Online Gambling Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Game Type
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2.1.1 Sports Betting
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2.1.2 Casino
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2.1.2.1 Live Casino
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2.1.2.2 Slots
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2.1.2.3 Baccarat
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2.1.2.4 Blackjack
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2.1.2.5 Poker
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2.1.2.6 Other Casino Games
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2.1.3 Other Game Types
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2.2 End User
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2.2.1 Desktop
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2.2.2 Mobile
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US Online Gambling Market Size FAQs
How big is the US Online Gambling Market?
The US Online Gambling Market size is expected to reach USD 5.12 billion in 2024 and grow at a CAGR of 16.52% to reach USD 10.98 billion by 2029.
What is the current US Online Gambling Market size?
In 2024, the US Online Gambling Market size is expected to reach USD 5.12 billion.
