Report: iGaming revenue in Americas to match Europe by 2028
A new report published Monday by Vixio projects online casino revenue in the Americas to reach $56.3 billion by 2028, which would put the continents level with Europe.
Only seven states in the US currently offer regulated iCasino, but three of them — New Jersey, Pennsylvania and Michigan — have combined to surpass $685 million in revenue in each of the first three months of 2025. All three set individual all-time monthly highs in either gross or adjusted revenue in March, totalling more than $816.1 million in operator winnings.
“Prior to 2018, the regulated online gambling market was highly Euro-centric,” explained James Kilby, chief analyst, Vixio. “But legalization of sports betting and iGaming in various US states as well as the major markets of Ontario and Brazil has coincided with stricter regulations in European countries that has restricted growth in a number of cases.”
Double-digit growth projected to continue
According to Vixio, the double-digit, year-over-year growth that has been present in the United States for more than a year is expected to be seen in Canada, Latin America and South America in the coming years.
Vixio projects a compound annual growth rate of 20.3% for the regions from 2023 through 2028, during which revenue will grow from $22.3 billion to $56.8 billion. Ontario showed itself to be a burgeoning market, with Canada’s largest province reporting $684.8 million CAD ($495.5 million U.S.) for the first quarter of 2025.
That was up 33.8% compared to the first three months of 2024. Internet casino drop has surpassed $6 billion CAD ($4.35 billion USD) for six months running, with a peak of $6.6 billion ($4.79 billion) in March.
Vixio projects solid but smaller growth for European operators in the short term, with revenue escalating from €30 billion ($33.34 billion USD) in 2022 to €37.3 billion ($41.45 billion) by 2026.
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