Analysts: North American iGaming Market to Reach $32.95b in 5 Years
The North American online gambling market is undergoing a significant transformation, with analysts projecting its value to reach $32.95 billion by the year 2030. According to a new report by ResearchAndMarkets.com, this growth is expected to continue at a compound annual growth rate (CAGR) of 12.2% over the next five years.
LISTEN TO THIS ARTICLE:One of the primary drivers behind this projected expansion is the growing convenience of online platforms that offer casino games, sports betting, and poker. Players are increasingly engaging with these platforms due to the ease of gambling from home or on the go.
Related: Online Gambling Grows While Traditional Casinos FadeFinancial technology (FinTech) innovations are also encouraging a shift from traditional to online gambling. Improved digital payment solutions, identity verification tools, and enhanced user experience features are prompting consumers to adopt online gambling at faster rates.
In 2024, sports betting emerged as the leading segment within the North American iGaming industry, accounting for over 49% of the market share. This dominance has been fueled by expanding legalization at the state level, which has made regulated sports betting more accessible to a wider audience.
Despite the prevalence of mobile devices in consumer habits, desktop platforms still maintained the highest market share in 2024. This suggests that while mobile gambling is growing, many users continue to prefer the larger screen and often more stable connectivity offered by desktop devices.
The Campaign for Fairer Gambling (CFG), in collaboration with market intelligence firm Yield Sec, recently highlighted a major issue affecting the US market—illegal online gambling. In a supplementary report to its 2024 USA National Online Gambling Report, CFG found that unauthorized gambling platforms accounted for 74% of gross gambling revenue (GGR) in the country. The report emphasized that simply legalizing online gambling without enforcing action against illegal operators could result in an increase in consumer losses by as much as 261%.
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To better understand the implications of regulation, states were grouped based on their level of online gambling legislation. States like California and Texas have no legalized online gambling. Others, such as New York and Florida, allow online sports betting only, while Michigan and New Jersey offer both sports betting and online casino games.
Data from the report revealed a clear correlation between legalization and increased GGR per capita as a percentage of average income. In states with no legal forms of online gambling, GGR per capita represented 0.31% of income. This figure rose to 0.77% in states where online sports betting is permitted and further to 1.12% where both sports betting and online casinos are legal.
Globally, the online gambling sector is also showing impressive growth. A recent report from The Research Insights forecasts that the international market will grow from $70.64 billion in 2023 to $153.57 billion by 2030.
This projection represents a CAGR of 11.7% over the forecast period. The global trend is driven by several factors, including the widespread use of mobile devices, improved broadband infrastructure, and evolving cultural and regulatory frameworks that are increasingly favorable to digital gambling platforms.
The proliferation of smartphones and expanding high-speed internet coverage are central to this global trend. Mobile gaming has fundamentally altered how users access gambling services, allowing participation from virtually any location.
At the same time, gambling platforms are enhancing their offerings with social features such as chat rooms, multiplayer capabilities, and leaderboards. These additions aim to increase user engagement and mimic the communal aspect of physical casinos, further blurring the lines between traditional and digital gambling experiences.
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