March: A Stellar Month for Regulated iCasino Platforms
March has proven to be a monumental month for regulated online casino platforms, highlighting the industry’s immense growth.
The saying goes, "records are meant to be broken," but in March, it’s more accurate to say they were obliterated. The seven states in the U.S. with regulated online casino platforms collectively amassed an astonishing $905.6 million in gross revenue, demonstrating a remarkable 26.2% increase from the previous year.
March is notably significant for operators as they often leverage the excitement of mobile sports wagering to promote online casino play. The NCAA Tournament, being the largest annual sports betting event in the U.S., draws both seasoned and casual bettors alike. This multi-week event not only captivates sports enthusiasts but also provides an excellent opportunity to introduce them to various gaming options.
All seven states reported gains of 20% or more in terms of gross or adjusted gross revenue, setting new monthly records in the process. Notably, Pennsylvania’s platforms saw gross winnings nearing $300 million—an amount that seemed unfathomable just a year ago when they first surpassed the $200 million mark.
State governments are also big winners in this surge, with a total of $177.1 million flowing into their revenues from $827.6 million in adjusted gross income. This figure marks a $41.1 million boost compared to last year, not including additional local revenues.
The Unsung Heroes: The ‘Small 4’
While Pennsylvania, Michigan, and New Jersey garnered significant attention for their record-breaking achievements—each exceeding $240 million in gross revenue—it’s crucial to recognize the contributions of the other four states. Without their parallel growth, reaching a national milestone would be challenging.
In this competitive landscape, the momentum across all states signals a vibrant future for the iGaming industry, suggesting that growth isn’t limited to just the front-runners.
For a deeper dive into the numbers and trends shaping the online casino landscape in March, click here to read more.
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