US Online Casino Revenue Takes A Step Back In November To $918.6 Million
US online casino revenue eased slightly in November 2025, totaling $918.6 million across the country’s seven regulated iGaming states.
While the figure marked a pullback from October’s record-setting performance, it still represented the second-highest monthly total in US online casino history and underscored the sector’s continued long-term growth.
The November total was down 5.3% from the all-time high of $969.7m in October and followed several months of exceptional growth.
Revenue remained substantially higher than a year earlier, with the year-over-year comparison against the $774.9m generated in November 2024 demonstrating the market’s resilience after a record-breaking run.
For the first time in several months, year-over-year growth dipped below the 20% threshold.
From July through October, monthly revenue increases exceeded 25% compared with the prior year. Although November’s growth rate was lower, it still reflected solid gains across the vast majority of jurisdictions.
Pennsylvania remained the top market with $304.4m in online casino revenue for the month, representing a 20.7% year-over-year increase.
New Jersey ranked second with $253.0m, edging out Michigan, which placed third with $248.4m.
Michigan’s total was affected by the payout of a record-setting progressive jackpot late in the month, reversing the usual top-three rankings.
Several smaller iGaming states posted some of the strongest percentage growth.
West Virginia’s revenue surged 58.5% year over year to $37.1m, while Delaware climbed 66.1% to $12.7m. Rhode Island nearly doubled its online casino revenue, rising 99.7% to $5.6m.
Michigan’s November results were heavily influenced by the largest online casino jackpot ever paid in the US - a $22.4m payout from DraftKings Casino on a 20-cent spin.
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Without that win, total US online casino revenue for the month would have been closer to $938m, pushing year-over-year growth above 21%.
Looking ahead, the modest dip in November means US online casinos will need to reach the notable milestone of $1bn in revenue in December to set a new record.
December has historically been the strongest month of the year for Pennsylvania, Michigan, and New Jersey, with all three states posting December revenue records in prior years.
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The seven iGaming states reported a combined $846.6m in online casino revenue in December 2024.
A year-over-year growth rate of just over 18% would push December 2025 beyond the $1bn mark.
With momentum building and the holiday season underway, reaching that milestone remains a realistic possibility and could cap the year with another record-setting performance.
