2025 Highest-Grossing Year in US iGaming, per AGA Report
In March, the American Gaming Association (AGA) published its Commercial Gaming Revenue Tracker. It functions as a breakdown of US gaming sectors at the state and national level, including figures for sports betting and iGaming. The latest data shows that 2025 was the highest-grossing year in American history
iGaming Revenue Hit $10 Billion in 2025
iGaming did not add any new regions in 2025. Maine legalized iGaming in some of its tribal lands, but they won’t launch until later in 2026. Despite this, the US iGaming industry made record gains according to the AGA report, hitting $10.74 billion in gross gaming revenue (GGR) for the first time. It marks a 27.6% increase, surpassed only by the growth rate of US sportsbooks (32.4%). The full AGA report is readable here.
Pennsylvania, Michigan, and New Jersey made up the lion’s share of revenue, having increased substantially since 2021. That’s where US iGaming seems to be strongest, though Connecticut and West Virginia markets are also growing. For the three leading states, 2025 marked the first year where iGaming revenues surpassed land-based casino revenue for the whole year.
States like New Jersey and Pennsylvania also benefit from iGaming’s generous onboarding, making use of promo codes and welcome offers. For example, new players can claim promos from Borgata before registering that give them up to $500 deposit matching or bonus spins on select games. These kinds of offers make use of iGaming’s unique platform, where newcomers can try out the service and stick around if they want to.
iGaming Revenue Passed $1 Billion in December
Moving into the AGA’s monthly analysis, they found that GGR surpassed $1 billion in December 2025, breaking another record for monthly revenue intake. Like the total numbers, Pennsylvania, New Jersey, and Michigan led the charge with a 22.1% increase over December 2024. The growth also led to a $929 million windfall for state governments via tax.
The most successful states seem to benefit from an ecosystem where other apps, like daily fantasy sports (DFS) or sportsbooks, had cultivated a pre-existing audience. This is why some of the biggest operators in the US started as DFS outfits. Mobile penetration and lower overheads made gameplay more convenient for those in the state, with less responsibility to maintain physical locations.
If more states join the industry in the future, we can expect revenues to increase. That said, it seems that certain states grow at different rates. In the same period, a state like Pennsylvania outpaced Connecticut’s growth fivefold, for example.
2025 showed that future growth will continue to rely on the depth of the industry instead of its lateral expansion. That means cultivating a better play experience on-site/app and giving players more games that tap into themes and mechanics they’ve never seen before. Generally, more established providers are better at the former, while newer game providers like Belatra push new and experimental game themes.
The AGA should release the full numbers for 2026 in March 2027, by which point we’ll see if iGaming continues to grow and provide new experiences for its players.
