Commercial gaming revenue results for the third quarter of 2024 were released late last year and there is one clear winner: iGaming.

It’s taken nearly three decades, a Supreme Court ruling, and a shift in social attitudes, but the U.S. is finally discovering that where there’s a bet to be placed, there’s a buck to be made.

According to the American Gaming Association (AGA), U.S. commercial gaming revenue reached $17.71 billion in Q3 2024 (July, August, September); the highest grossing Q3 ever recorded.

Land-based gaming is flat-lining; the results in 2024, including casino slots, table games, and retail sports betting, totaled $12.56 billion – 0.62% lower than the equivalent period in 2023.

Online Action

Nearly all recent revenue growth in the industry has been online. Gambling with online casinos is booming. If you want to back a winner in 2025, iGaming is the odds-on favorite.

Online sports betting and iGaming have increased by 37.9%, compared to last year. The combined revenue for Q3 was $5.14 billion.

Online gaming now accounts for 29% of the total commercial gaming revenue, a significantly higher share than the previous year and a trend that shows no sign of slowing down.

The States O Play

Online gambling in the U.S. is still fairly chaotic, however.

Since the Amateur Sports Protection Act (PASPA) was ruled unconstitutional in 2018 states have been allowed to regulate sports betting individually. The end result is a mixed bag of gambling legislation, with states offering varying degrees of access to online betting, from anything goes to a complete ban.

As of January 2025, online casino gambling is legal in seven states: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, West Virginia, and Rhode Island. Wagering at online sports betting sites is legal in 32 jurisdictions, including Washington D.C. and Puerto Rico. Finally, online poker is legal in just six states. Only Utah and Hawaii maintain outright bans on all forms of gambling.

Land-based casinos can be found in more than 20 states and Native American tribes operate more than 500 casinos in 29 states.

Money Talks

Whatever the politics of gambling, both online and land-based, the trend is heading in one direction, which is towards the money. You can expect to see more online betting in the future.

State tax revenues, combined with employment opportunities and technological investment are making the case for legal regulated betting. Commercial gaming operators paid a staggering $3.79 billion in taxes in Q3 2024; an increase of 8.9%, year-over-year.

The latest states to jump on the betting bandwagon are Kentucky, Maine, North Carolina, and Vermont.

Kentucky legalized sports betting in September 2023. Since then, $2.2 billion has been wagered online and a further $82 million gambled at its iconic race tracks.

It’s been a hugely successful year, with the state enjoying tax receipts of nearly $40 million; 150% of the estimated revenues.

Public Opinion

In 2024, the American public seemed to rally behind the betting business. A survey by the American Gaming Association revealed that:

• More than half (55%) of American adults participated in some form of gambling
• 59% of Americans found gambling personally acceptable – an all-time high
• 122 million adults – 49% of the population – visited a casino
• The average age of casino visitors has dropped from 49.6 to 41.9
• More than three quarters of the population think the gaming industry has a positive impact on the U.S. economy

Although the relaxation of gambling laws is largely positive the industry understands the importance of regulation. As gambling becomes less of a political hot potato the regulation of sports betting along with online casinos will come under scrutiny.

Predictions For 2025

• More regulation and restrictions on advertising
• VR casinos and esports will be a significant growth area for gambling
• The use of cryptocurrency will boom
• Total US gambling revenue could surpass $120 billion, compared to total revenue for 2024 estimated at $67 billion