The US online casino market has reached a historic moment. In March 2024, the combined revenue of seven states with legal digital casino platforms reached $905.6 million, a significant increase of 26.2% compared to the same period last year, setting a new industry record.
This impressive performance is largely due to the NCAA Tournament, the largest annual sports betting event in the US, which successfully attracted a large number of new players to try online casino games.
Pennsylvania was particularly outstanding, with its platform revenue nearing the $300 million mark, far exceeding the level when it first broke $200 million at the end of 2023.
Michigan, New Jersey, and other major markets also set new monthly revenue records, with total monthly revenue in each of these three states exceeding $240 million. It is noteworthy that state governments also benefited greatly from this growth, with adjusted total revenue in March reaching $827.6 million, contributing $177.1 million in taxes to state finances, an increase of $41.1 million from last year.
Analysts point out that the cross-promotion strategy between sports betting and online casinos has been very effective. During the NCAA Tournament, a large number of casual sports betting players were successfully converted to online casino users, driving rapid growth in overall revenue.
All seven operating states saw year-over-year revenue growth exceeding 20%, demonstrating the strong development momentum of the US online gambling market. As more states consider opening up online casino operations, this record may soon be refreshed again.
