Report: iGaming Revenue in the Americas Will Reach European Level by 2028

According to Vixio’s most recent analysis, online casino revenue in the Americas could rival Europe’s once-dominant market by 2028, driven by expansion in U.S. states, Ontario, and Latin America.

Vixio’s new analysis, published on Monday, predicts that online casino revenue in the Americas will reach $56.3 billion by 2028, bringing the continents on par with Europe.

There are now just seven states in the United States that provide regulated online casinos, yet three of them — New Jersey, Pennsylvania, and Michigan — have combined to generate over $685 million in revenue in the first three months of 2025. In March, all three achieved all-time monthly highs in gross or adjusted revenue, totaling more than $816.1 million in operator wins.

“Prior to 2018, the regulated online gambling market was highly euro-centric,” according to James Kilby, chief analyst at Vixio, “but legalization of sports betting and iGaming in various U.S. 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.”

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Double-digit Growth Projected to Continue

Vixio predicts that in the upcoming years, Canada, Latin America, and South America will see the double-digit, year-over-year growth that has been observed in the United States for more than a year.

Vixio predicts that between 2023 and 2028, the regions’ revenue would increase from $22.3 billion to $56.8 billion, with a compound annual growth rate (CAGR) of 20.3%. The largest province in Canada, Ontario, reported $684.8 million CAD ($495.5 million US) during the first quarter of 2025, demonstrating the market’s growth.

Compared to the first three months of 2024, that represented a 33.8% increase. For six consecutive months, the decline in online casinos has exceeded $6 billion CAD ($4.35 billion USD), reaching a peak of $6.6 billion ($4.79 billion) in March.

For European operators, Vixio anticipates strong but slower growth in the near future, with revenue rising from €30 billion ($33.34 billion USD) in 2022 to €37.3 billion ($41.45 billion) by 2026.

Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/