The US iGaming Market Continues to Move Upward
The US iGaming market continued its upward trajectory in November 2024, with significant revenue growth across the seven states where online gambling is legal. According to a breakdown by CDC Reports, total revenue amounted to $714.4 million, a substantial increase from the $586.5 million reported in November 2023.
LISTEN TO THIS ARTICLE:Michigan maintained its lead in the iGaming market, surpassing New Jersey for the month. The state set a new record by generating $226 million in revenue, up from $175.3 million in November of the previous year.
Related: Rush Street CEO: Trump Government Could Help US Gaming MarketThis also marked a new high for the state, exceeding the $220.7 million record set in October 2024. Michigan's 15 licensed operators paid $42.5 million in taxes during the month, with $10.6 million allocated to the city of Detroit, $5.2 million directed to tribal governments, and $26.7 million contributed to the state.
New Jersey's iGaming sector also achieved significant milestones. The state reported a new record of $214 million in revenue for November, representing a nearly 25% increase from the $171.6 million generated in the same month last year.
This surpassed the previous high of $213.6 million set in October 2024. With one reporting month remaining in 2024, New Jersey's online gambling revenue reached $2.2 billion, significantly higher than the $1.74 billion recorded in 2023. Golden Nugget led the market with $65.2 million in revenue, followed by BetMGM/Borgata at $43.4 million and DraftKings/Resorts at $49 million. The state collected $32.2 million in iGaming taxes, over half of the $61.9 million in total gambling taxes for the month.
In Connecticut, November iGaming revenue reached $41.3 million, an increase from the $32.7 million reported in the same month last year. The Mashantucket Pequots, operating under DraftKings, accounted for $21.1 million, while Mohegan Sun, affiliated with FanDuel, contributed $20.2 million. Tax revenue for the state totaled $7.4 million, up from $5.8 million in November 2023.
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Pennsylvania Sets a Record
Pennsylvania also experienced record-breaking performance, with November marking the first time the state's iGaming revenue surpassed $200 million. The $200.4 million reported was an increase from the $191.9 million recorded in November 2023, the first month Pennsylvania exceeded $190 million.
Hollywood Casino at Penn National Race Course maintained its top position, generating $74.4 million in revenue compared to $73.1 million the previous year. Valley Forge, in second place, earned $54.1 million, up from $50.1 million. Pennsylvania collected $88.6 million in taxes for the month, a significant rise from the $66.8 million gathered in November 2023.
West Virginia reported $23.4 million in iGaming revenue for November, marking substantial growth from the $13.9 million recorded in 2023. This figure was just shy of the state's record set in October.
Delaware's November revenue climbed to $6.2 million, bolstered by the performance of Rush Street Interactive, which has significantly outpaced the $1.1 million generated by the previous operator, 888, in November 2023. Online video lottery games, primarily slot games, contributed $4 million, while table games added $2.2 million to the total. Online poker has yet to return since the transition to a new operator on January 1, 2024.
Rhode Island, where iGaming operations are exclusively managed by Bally's, generated $3.1 million in revenue for October 2024. While November data for Rhode Island will be available in January 2025 due to the state's reporting schedule, the performance is expected to align with October's figures. These consistent earnings continue to solidify Rhode Island's role in the growing US iGaming market.
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