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Despite still being illegal in over half of the country, US online gambling revenue is projected to reach $25 billion in 2024. This number will rise substantially as more states legalize online casinos, making the American iGaming industry one of the most valuable in the world.
In this article, we will examine which US companies are driving these numbers. We’ll discuss the long-established market leaders and the disruptive newcomers changing the landscape. Keep reading to find out more.
The five biggest iGaming companies in America
There are hundreds of iGaming companies in the US, but a handful account for the large majority of revenue. Below, we’ve outlined the key players in the industry.
FanDuel
FanDuel reported $4.4 billion in revenue in 2023, with FanDuel Casino owning over 25% of the US iGaming market share. Its parent company, Flutter Entertainment, owns other major gambling brands like PokerStars and Betfair, but FanDuel is the fastest-growing in its portfolio.
DraftKings
DraftKings generated over $3.6 billion in 2023, and its revenue is projected to increase to $4.95 billion by the end of 2024. What began as a fantasy sports platform has grown to become one of the biggest household names in the gambling industry. DraftKings’ explosive growth is mainly due to its strategic sports partnerships and celebrity endorsements, which many other businesses have attempted to replicate.
BetMGM
BetMGM is a joint venture between Entain and MGM Resorts, two gambling giants. Entain is best known for its UK brands like Ladbrokes and Coral, whereas MGM Resorts is famous for its land-based casinos. They joined forces to take on the online industry and generated $2 billion in revenue during 2023.
Caesars Sportsbook and Casino
Caesars is another iconic land-based casino brand, well-known for its Vegas residencies, including Adele, who recently wrapped up her 100th and final show. Caesars went online for a slice of the iGaming pie in 2021 after acquiring William Hill International. Despite Caesars Entertainment reporting disappointing numbers, Caesars Digital, the online operation, saw a 22% revenue increase in H1 2024.
Aristocrat
Artistocrat is one of the biggest slot manufacturers in the world. Although not an American company, most of Aristocrat’s revenue ($4 billion in 2023) is generated in the US. They are behind some of the most played slots online and offline and have huge partnerships with The NFL and HBO to create games featuring the most popular teams and TV shows worldwide. Examples include ‘NFL Overtime Cash’ and ‘Game of Thrones: Winter is Here’.
Social casinos and their popularity in the US
Social casinos have exploded in popularity in recent years. Their free-to-play model appeals to those who want to enjoy the thrills of casino games without the cost. Despite being free to play, the US social casino industry is worth an estimated $6 billion. Revenue is mainly generated through virtual currency purchases and subscription models. Below, we have outlined some of the biggest social casinos in the US.
WOW Vegas
WOW Vegas is the US’s biggest and most recognizable social casino. In early 2024, it famously partnered with Paris Hilton, who became its brand ambassador and helped the platform grow to over 2 million active users. WOW has embraced the use of bonus codes as a way to attract customers, so much so that sites like Casino.org have dedicated pages purely to assess the value of these codes, indicating how important this is to WOW’s business model. WOW is owned by MW Services Limited, a business registered in Gibraltar.
Stake Social Casino
Stake is a gambling giant in the US, generating over $2.6 billion in 2022. It is famous for its celebrity partnerships, including huge names in entertainment and sports like Drake and Sergio Agüero. Their social casino is renowned for generous bonuses, random giveaways, and an interactive user base.
MrLuck
MrLuck is owned by B-Two Operations Limited, a business registered in the Isle of Man. Founded in 2023, it’s one of the newest social casino brands in the US, but its aggressive marketing has quickly made it one of the biggest. Despite our research, we couldn’t find any numbers on company revenue or an exact user count.
What’s next for iGaming companies in the US?
Only seven states have legalized online gambling: New Jersey, Delaware, West Virginia, Pennsylvania, Michigan, Connecticut and Rhode Island. Future state legalizations will significantly impact the current $25 billion market valuation, and it’s hard to imagine what the US iGaming industry could be worth in just the next few years.
A couple of things are guaranteed: Further iGaming expansion in the US will result in thousands more jobs and millions more tax revenue for the states that allow it. At the time of writing, Ohio is the only state actively looking to legalize online casinos, but this is likely to expand into other locations throughout 2025 and beyond.