Posted on 27 October 2023 in General
US iGaming Market Generates $569m of Gross Win in September 2023 Narrowly Missing Revenue Record
Michigan was the last state to report iGaming gross win for September, with gross win $166.4m up 29% year on year, and the second highest monthly gross win that the state has ever reported (-3.2% compared to the $171.8m reported in March 2023). While this was enough to overtake New Jersey to again become the second largest iGaming state, it was not quite enough to get the market over the line for a record month of iGaming gross win.
Total iGaming gross win for September came in at $569.2m – up 29% year on year, but fractionally below the record $569.6m reported in March 2023. This is in spite of Pennsylvania, the largest iGaming state, reporting record gross win of $187m – 3.2% ahead of the previous record high reported in March 2023. New Jersey, the other large iGaming state, generated gross win of $164m – just 1.2% below its own previous record high, also in March 2023.
Year to date iGaming gross win is now $4,746m – up 23% year on year, with Pennsylvania the largest state, generating $1,522m (up 28% year on year). We highlight that Pennsylvania is often mistaken as being the third largest state, as some industry commentators are unaware that the reported win figures are net of bonuses. Michigan is currently just a nose in front of New Jersey as the second largest state, with gross win of $1,407m year to date (up 23% year on year) only fractionally ahead of New Jersey’s gross win of $1,405m (up 15% year on year). Connecticut has seen the largest year on year growth of 45%, although this is from a lower base, leading to year to date gross win of $287m, while West Virginia has returned 43% growth to $112m for the first 9 months of the year.