March saw US iGaming gross revenues soar to $905.6 million, smashing the sector’s previous record by a staggering 26.2%.
Of the seven US states that have legalized online casinos, Pennsylvania topped the table, grossing $291.6 million, backing up its superb January $210.1 million tally earlier this year. In doing so, the Keystone State also managed to eclipse March 2024’s figures of $230.6 million, which equated to a 26.4% year-on-year (YoY) increase.
Michigan and New Jersey also set all-time high monthly iGaming revenue spikes, both topping more than $240 million each.
However, it was the smaller states that ultimately helped surpass the national record, with all four exceeding 20% growth with some more than doubling their YoY figures. Combined, Connecticut, West Virginia, Delaware, and Rhode Island were able to amass more than $109.5 million between them.
Analysts have credited the surge to the effective cross-promotion of iGaming platforms through operators’ mobile sports betting apps during NCAA March Madness. In doing so, sports betting firms migrated countless bettors across to their online casino games throughout the marquee championship tournament.
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Breaking down the emerging state iGaming markets further, Connecticut’s FanDuel and DraftKings raked in over $57.7 million, while Delaware’s BetRivers nearly doubled its March 2024 earnings.
Even Rhode Island, which only went live on March 1, 2024, pulled in $5.1 million. This quadrupled its inaugural month of operations last year.
As a result of the unprecedented surge in iGaming revenues, in total, the seven states accumulated $177.1 million in tax revenue, up from $41.1 million in March 2024.
With over $10.9 billion wagered in the top five states alone in March, industry analysts believe the monthly total would be closer to $25 billion if rolled out nationally. To put that into perspective, the monthly handle record for US sports betting currently sits at just $15.66 billion, with far more states already participating.
Given the momentum of iGaming’s growth, along with the record-breaking tax windfalls, it seems inevitable that states like Maryland and New York will eventually grant residents access to online casino gaming. If they and others do so, expect to see iGaming’s gross revenue records broken once again in 2026.