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For the second consecutive month, US online casino revenue topped $1 billion in January.
After breaking past the milestone mark in December with a record total of just under $1.04 billion, US online casinos narrowly cleared the mark. It finished just a handful of dollars over $1 billion.
While the market is dominated by the top three states, it was the smaller iGaming states that pushed the US to another $1 billion month.
Revenue Up Nearly 20% from January 2025
The year-over-year revenue growth was steady once again, finishing just shy of 20% from January 2025.
Here’s a look at each of the seven iGaming state’s year-over-year comparison for January. It should be noted that some states individually report their adjusted gross revenue (AGR), which removes promotional spend from their wins. This table reflects the gross gaming revenue, which is the total prior to the promo spending being taken out.
The $166 million additional iGaming revenue fits right between where December ($188 million) and November ($144 million) sat.
While Pennsylvania, Michigan, and New Jersey accounted for $873.4 million of January’s total US revenue (87.3%), it was the four smaller markets that allowed the country to reach $1 billion.
West Virginia, Delaware and Rhode Island each saw gains of 39% or greater. West Virginia set a new monthly revenue record with $41.7 million in January. It already is on a strong pace for February as well, starting the month with a record week of revenue at just under $10 million.
Delaware also had a monthly record at $14.7 million in January, a slight increase from December’s previous record of $14.6 million.
How High Can US Online Casino Revenue Go in 2026?
January sets a high bar moving forward for US iGaming standards.
Prior to December, the seven online casino states had never reached $1 billion in revenue.
Now, it is starting a new year above that mark.
The ceiling doesn’t appear to be visible yet for just how high things can get in 2026. Looking at the last seven months, there is a consistent jump in revenue year-over-year.
Over the last seven months, the average revenue increase by month from the year prior is $186 million.
As each month sees a greater total revenue, the percentage increase year-over-year is likely to decline, as it takes more dollars to create more percentage gains. However, the total number of dollars gained year-over-year should be a little more consistent.
Should this $170-200 million growth range continue, the US iGaming sector could be looking at around $1.24 billion in a given month by the end of 2026.
Either way, the US should easily be able to average $1 billion of revenue or greater by the end of 2026.
