David Morey 
It all began in 1996 when gambling companies finally embraced the magic of the internet, bringing more ease and convenience to the game of chance than it had ever witnessed.
Today, online gambling has become a multimillion-dollar industry, with companies like BetMGM and DraftKings at the top of the food chain, offering customers more sophisticated software and a super-realistic casino experience all from the comfort of their homes.
In this article, we will examine how much these companies make in the United States gambling market and the leading states of the U.S. in terms of gambling revenue.
Leading Online Gambling Companies in the United States and How Much They Make
The United States is home to giant online gambling companies that have contributed significantly to state revenue. Based on estimates from Custom Market Insight, the US online gambling market is expected to reach $9 billion by 2032.
Here are the top companies driving this growth.
BetMGM
BetMGM is one of the prominent online gambling companies in the US, jointly owned by MGM Resorts International and Entain. The company operates in 25 jurisdictions, including its recent expansion into Ontario and Canada, holding a 12% share of the iGaming and sports betting market. BetMGM recorded an impressive revenue gain of 36% in 2023, reaching up to $2.6 billion.
Their focus on delivering excellent customer experience and data-focused marketing strategies drove this sterling market performance. BetMGM holds a strong position by ranking among the top three online gambling companies in the US.
Caesars Entertainment
Another major online gambling company topping the US gambling revenue chart is Caesars Entertainment, a major casino operator with brands such as the famous Caesars Palace, Harrah’s, Bally’s, and Eldorado. It also owns William Hill US, one of the foremost sports betting operators in the country.
In 2023, Caesars Entertainment recorded tremendous feats in terms of revenue, raking in nearly $1 billion from online betting alone. The company’s digital betting platform is live across 22 US states and proliferates as more states embrace online gambling.
DraftKings
You can’t talk about the US gambling market without speaking of DraftKings and the company’s role in making gambling convenient and valuable to bettors. The company has experienced tremendous growth in the market, averaging $96 per monthly unique payer in 2022 and owning about 31% of the online gambling market in 2023, surpassing FanDuel to become the market leader in the third quarter.
The company has over 2.3 million unique players, reflecting their strong market position and commitment to innovation.
FanDuel
Here comes the US online gambling market leader, known for its strategic influence on the legalization of sports betting in many states. FanDuel currently holds a 44% market share in the US sports betting market.
It was rumored that the sportsbook moved to merge with DraftKings in 2016 to take on around 90% of the daily fantasy sports market but was blocked by the FTC. With total annual online gambling revenue exceeding $3 billion, FanDuel needs no duel to be crowned the US online gambling market leader.
Leading States In The US In Terms Of Online Gambling Revenue
Nevada
Nevada remains the undisputed leader of gambling in the United States, both online and offline. The state is home to Las Vegas, the world-famous gambling destination that attracts millions of visitors annually. Nevada has a long history of legalizing gambling, dating back to 1931, and also holds the title of being the first to legalize online poker in 2013. In 2023, Nevada achieved an all-time high in gambling revenue, totaling $15.52 billion, with sports betting contributing a whopping $481.3 million.
New Jersey
New Jersey is the second-largest gambling state in the U.S. and the leader in the online gambling market. The state legalized online gambling in 2013, allowing licensed casinos to offer online poker, casino games, and race tracks.
The state’s large population, robust regulatory framework, and competitive market have led to astonishing figures in online gambling revenue. New Jersey broke records in the last calendar year, with its gambling revenue totaling $5.78 billion, where online gambling contributed nearly $2 billion.
Pennsylvania
This is the third-largest gambling state in the United States; despite being one of the most recent entrants to the online gambling market, it only legalized online gambling in 2017. Pennsylvania has a large population and a strong demand for gambling entertainment.
In the 2024 gambling year, we reported an unprecedented $5.7 billion combined revenue, a 9.3% surge from the previous year. Online gambling also recorded a milestone 28% surge in revenue growth for the state, amounting to a substantial $1.74 billion in revenue.
Other States
Honorable mentions are New York, with a long history of gambling dating back to the 19th century, and Louisiana, which is also pulling in massive revenue figures.
Another state worth mentioning is Kentucky. Though the state only recently legalized sports betting and has yet to regulate its online casino market, bettors can still wager with trusted real-money online casinos in Kentucky and popular offshore casinos.
Frequently Asked Questions (FAQs)
What Is The Size Of The US Online Gambling Market?
The US online gambling market size is estimated to be over $9 billion, with sports betting leading the chart as the most popular type of online gambling.
Which State Leads In Regulated Online Gambling?
Currently, New Jersey is the largest market for regulated online gambling in the United States. It hosts over a dozen legal and licensed online casino sites, poker rooms, sportsbooks, and sports betting apps.
Online Gambling: A Gold Mine of Massive Potentials and Opportunities
The US online gambling market is fast-growing, but what’s even more exciting are the opportunities yet to be unraveled and explored as technology keeps changing the game, presenting more incredible opportunities for more states to join the train.
