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 |
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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.
