The iGaming market is surging. Globally, online gambling revenue reached around €90.5 billion in 2025, and it is projected to grow at a roughly 10.5 percent compound annual growth rate through the next decade. This growth is driven by innovative technologies and changing regulatory landscapes. Latin America is a standout region – its iGaming market is expected to jump from €4.5 billion today to about €8.5 billion by 2028, with Brazil accounting for more than half of that growth. This expansion is fuelled by increasing internet penetration and favourable regulatory changes, positioning the region as a key player in the global market.
Europe remains the steady anchor for the industry while North America moves through a phase of compliance-led maturity. In Europe, established markets like the UK and Malta continue to shape regulatory benchmarks that other regions look to follow. The maturity in North America is particularly evident in the United States, where a nuanced approach to regulation is fostering a balanced growth environment. Asia presents a more mixed picture, with markets such as the Philippines opening to iGaming, while others like India push against monetary play. Political and cultural factors play significant roles here, with differing views on gambling reflecting in regulatory approaches.
More than 450 million players were active online in 2025. That number is expected to grow to over 520 million by 2028. Mobile platforms are dominant in the space – they account for about 65 percent of all bets placed. The convenience of betting on mobile devices has transformed player behaviour, with innovations like 5G and augmented reality further enhancing the user experience. This shift towards mobile gaming is expected to continue, driven by technological advancements and changing consumer preferences.
In the United States, the trajectory is equally compelling. Across seven legalised states, iGaming revenue grew 27.6 percent in 2025, reaching a record total of US $10.73 billion. The rapid expansion has been spearheaded by states such as Michigan, New Jersey, and Pennsylvania, which together accounted for nearly 90 percent of that total. Pennsylvania alone saw its iGaming revenue climb around 28 percent to US $3.46 billion. In that state, online gaming revenue exceeded traditional land-based casino revenue for the first time during 2025, highlighting the shifting landscape of consumer preferences.
Meanwhile, the overall U.S. commercial gaming industry also posted strong numbers in 2025. Total revenue surpassed US $78 billion, up 9.1 percent on 2024. Gaming tax revenues from that activity hit US $17.86 billion, a 12.3 percent year-on-year rise. These numbers reflect a robust industry contributing significantly to state economies, underscoring its role as a key economic driver.
What about 2026? For the second quarter of the year, quarterly iGaming revenue in the U.S. expanded 19.9 percent year-on-year, with June’s numbers nearly US $1 billion. This consistent growth trajectory indicates a well-entrenched industry capable of weathering economic fluctuations. The combined verticals of traditional casino, sports betting, and iGaming reached US $20.39 billion in Q2, up 5.1 percent year-on-year. This interconnectedness of gambling sectors highlights a diverse but unified gaming landscape.
At the same time, a Q1 2026 industry sentiment index showed economic activity in gaming is still growing – the Gaming Conditions Index rose 1.5 percent compared to Q1 2025. Executive confidence remains healthy, with expectations for rising revenues, better balance sheets, and improvements in customer activity. Half of executives also foresee cost savings thanks to AI over the next six to twelve months. AI is expected to revolutionise many facets of gaming, from personalised marketing to fraud detection, making operations more efficient and customer-focused.
Key Drivers of Growth
Several factors are fuelling this growth around the world:
- Mobile Innovation. Mobile devices make iGaming more accessible than ever. The ability to play anywhere, anytime, meets the modern consumer’s need for convenience and immediacy.
- Regulatory Expansion. New markets and states legalising iGaming keep unlocking more opportunities. For example, the legalisation of sports betting in many U.S. states has opened further avenues for revenue.
- Technological Enhancements. Live dealer games, AI personalisation, and streamlined payment options are improving engagement. Players enjoy more immersive and tailored experiences, fostering loyalty and increased spend.
- Operational Focus. Especially in mature markets, success is shifting towards profitability and efficient infrastructure. Beyond acquiring customers, the focus is on retaining them by enhancing the value proposition.
Real Effects and Broader Impact
These developments have tangible effects. The Analysis Group model for Maryland projects land-based revenues rising from US $2.0 billion in 2024 to about US $2.5 billion by 2029. iGaming is expected to contribute an extra US $769 million in its first full year, growing to US $1.4 billion by year five. That would mean combined land-based and iGaming revenues nearly double from US $2.0 billion to US $3.9 billion – a striking 92 percent increase. Economic growth will likely lead to additional benefits such as job creation and community projects.
And it is not just about revenue. States with iGaming saw strong job creation. For example, in New Jersey, Pennsylvania, West Virginia, and Michigan, the category labelled “Other Gambling Industries” added thousands of roles. Live dealers, customer service staff, and marketing teams all benefited. This growth in employment highlights the positive spillover effects that iGaming has on local economies beyond direct taxation.
In more mature U.S. states, iGaming may even support land-based growth rather than cannibalise it. In Pennsylvania, retail slot revenues rose by 13.25 percent between pre-iGaming and post-iGaming periods, while table game revenue jumped 25.17 percent. This suggests that online and offline sectors can reinforce each other when managed correctly. Effective marketing and alignment of online and offline offerings enhance the overall customer journey, drawing players to both platforms.
Strategic Shifts and Industry Norms
Globally, operators are shifting strategy. The focus is moving from rapid expansion driven by promotions to reliable infrastructure and long-term profitability. The emphasis is on bonus efficiency, payback, cost-to-serve, and responsible promotions. Microbetting, instant-play formats, and unified single-wallet experiences for casino-sportsbook journeys are becoming industry norms. These strategic adjustments not only aim to ensure sustained growth but also align with evolving consumer expectations.
In short, iGaming’s growth is not just continuing – it is evolving. It is scaling, yes. But it is also maturing, becoming more efficient, and embracing technologies and regulation to sustain that success. A market that was novel decades ago is now a foundational part of the global entertainment and gaming economy. Business of iGaming sits right at the heart of this evolution – reporting on the figures, the shifts, the markets, and the technology that will steer the next phase of the industry.
