U.S. iGaming Revenues Top $5 Billion in 2023

Online casino revenue has already topped the $4.8 billion generated in 2022. With two months still to go in 2023, iGaming is growing rapidly.

Nov 29, 2023 • 12:49 ET • 4 min read
Photo By - USA TODAY Sports

October’s iGaming revenues for the six states where it is legally offered came in at $533.6 million. That puts the total U.S. online casino revenue for the year at more than $5 billion. 

While iGaming doesn’t get the same attention as sports betting, it is growing rapidly in the six states where it is currently offered.  

Delaware was, fittingly, the first state to legalize internet gaming back in 2012. The First State had been consistently pulling in more than $1 million in online gaming revenue. But in October, it just missed that mark, coming in at $982,919.  

New Jersey followed Delaware’s lead, legalizing online casinos back in 2013. The revenue it generated, however, was relatively modest to start. New Jersey’s iGaming revenues, however, more than tripled since 2019, owing some of that growth to the pandemic.  

In 2019, New Jersey’s online casino operators generated a total of $482.7 million in revenue. The state’s providers generated more than that in just the first three months of this year. In October, the New Jersey’s internet gaming revenues were $166.8 million – the highest monthly total for the year. 

Connecticut launched online gaming in October 2021. This October, just two years later, the state generated $36.5 million in iGaming revenues, up more than 35% from last October. Meanwhile, West Virginia posted online gaming revenues of $14.3 million last month.  

Michigan passed its internet gaming law at the end of 2019. In October, it generated $160.3 million from online gaming. Year-to-date, the Great Lakes State has generated more than $1.5 billion in iGaming revenue. Meanwhile, Pennsylvania’s online gambling sector produced an impressive $154.8 million in revenues last month.

Potential for more?

Other states have been slow to embrace iGaming, focusing only on legalized sports betting. But if iGaming continues to show consistent growth, more states may add it to their gambling portfolio.

Last year’s total U.S. iGaming revenue was $4.8 billion. With two months still to go, this year’s online casino revenues have already exceeded that number. While October’s revenues were strong, they did not top September’s, which came in at $542.7 million.  

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