When it comes to online casinos, the United States are anything but united. And that’s because, unlike in most countries, where one licensing regime controls all the gambling within that same country, regulations for online gambling in the US vary from one State to the next.

And this is probably what makes online gambling in the US one of the most exciting markets in the world.

Sports betting, especially, is achieving significant growth – and this is translating into significant revenue. Recently, DraftKings reported quarterly results that even beat Wall Street’s estimates by quite some margin – and registered $790m against the $706.8m expected, for the third quarter of the year, pushing its shares more than 16 per cent higher. This makes DraftKings the biggest player in the sports betting space – and the company continues to expand into new jurisdictions, attracting a bigger customer base.

As the sports betting space keeps growing, the bigger players jostle for space – including significant names such as MGM, FanDuel, Fanatics and Caesars. And that space is about to become even more crowded, as on November 14, the Walt Disney Company plans to launch ESPN Bet in 17 US States.

By the end of 2023, it is projected that overall revenue from online sports betting in the US will reach $7.6bn. This is expected to continue to grow by 17.3 per cent every year, as sports betting is introduced into other US States, reaching a projected market volume of $14.4bn by 2027. And that is significant, especially when considering that the market for sports betting in the US is relatively young, having began to take shape in 2018, after a Supreme Court ruling cleared the way for States to determine their own laws for online sports betting – today it is legal in more than half of the US.

In comparison, online gambling is legal in fewer States – but the revenue is also significant, projected to reach $19.1bn by the end of this year. The projections see lower growth than online sports betting – with an annual growth of 12.9 per cent. Still, revenue is expected to hit $31.1bn by 2027.

The State of Nevada is doing especially well in online gambling – with the latest monthly revenue report released by the Nevada Gaming Control Board showing revenues reaching $1.27bn in September. According to the same report, combined revenues generated by casinos in September marks an increase of 1.69 per cent year on year, and a 5.8 per cent increase on the revenue generated in August. Significantly, this is the 31st successive month in which the State has reported more than a billion dollars in revenue.

Overall, online gambling in the US is expected to continue achieving growth, fuelled by the rise of technology, virtual reality and mobile platforms – with reports showing how over the next five years, the market could reach a CAGR of 11.78 per cent. Such growth is in line with the global market, which back in 2019, grossed $45bn worldwide, and since then has been growing by an average of 20 per cent annually, to reach $95bn in 2023 – with the US and UK market contributing over one-third of total revenue.

Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/