US Online Casino Growth Accelerated in 2024, With Over $8.4 Billion in Full-Year Revenue

The US online casino industry saw its growth accelerate in 2024 despite a lack of significant new market launches. That’s impressive, as it was already growing at an annual clip of over 20% coming into the year and the trend to that point had been a gradual slowdown as the existing state markets matured.

One year ago, PlayUSA projected that the overall growth rate for 2024 would be 19.3%, down about 3.5 percentage points from 2023, leading to $7.8 billion in full-year, total market revenue. Instead, the growth rate has gone up 5.9 percentage points to 28.7%, and the industry’s gross gaming revenue for 2024 was $8.4 billion.

That growth can’t be attributed to expansion of the market itself. Rhode Island was the only state to open its doors in 2024. With a population of just over a million and only a single operator, its contribution will likely have been under $25 million once it releases its December numbers, or 0.03% of the national total. New operator launches like bet365 Pennsylvania and Jackpocket Casino were likewise drops in the bucket.

Which states grew fastest in 2024?

Most states and many operators saw an acceleration in their growth, so the effect also wasn’t due to one breakout success. Rather, the likely cause is an improvement to the overall national economy.

The US Department of Commerce reported in November that the country had seen strong economic gains due to American consumers “making more and spending more.” The online casino industry may simply have been one beneficiary of that.

Connecticut, still a young and quickly-growing market, was the only state to see growth slow down as expected in 2024. Every other US iGaming market accelerated. Delaware was the biggest success story in proportional terms due to a change in its monopoly operator. It saw monthly revenue rise from roughly $1 million under 888 (now known as Evoke) in 2023 to over $3 million immediately when BetRivers came in as the replacement. Over the course of the year, that rose further, ending 2024 with a $7.7 million month of December.

West Virginia online casinos‘ acceleration was also explosive, rising from an annual growth rate of 39.8% in 2023 to 56.8% in 2024. The bigger and more mature markets all saw a modest amount of acceleration, as you can see in the table below.

Which online casino brands grew fastest in 2024?

National operator revenue numbers aren’t available. In several states, multiple operators share the same license and report revenue together, which makes it impossible to evaluate brand competition on the national scale.

However, the Michigan online casino market has only one brand per license and provides a convenient stand-in for the brands that operate there.

One of the stories of the year was FanDuel‘s rapid growth and its race with BetMGM for market leadership. However, that trend began in 2023 and although it maintained its pace in 2024, it didn’t accelerate further. Rather, it seems to have spurred BetMGM to press on the gas, accelerating its growth by nearly 10 percentage points. Meanwhile, third-place DraftKings has fallen off the pace a bit.

But perhaps the biggest contributors to the overall acceleration were mid-tier sites like Caesars, thanks to changes in brand strategy. It more-than-doubled its growth rate from 33% to 69% by focusing on its standalone Caesars Palace Online Casino rather than the hybrid sportsbook-casino. The rebranding of PENN’s Barstool Casino to Hollywood Casino and PointsBet’s transformation into Fanatics Casino likewise paid dividends.

The table below shows how growth rates have changed for national brands operating in Michigan. (Michigan-specific brands have been omitted, though their revenue is included in the state total.)

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