US September iGaming Revenue Surpasses $900 Million For Second Month
US iGaming revenue reached $902.5 million in September, representing a slight 0.9% decrease from August’s $910.4 million, but an impressive 26.7% increase from the same period in 2024.
All of the seven states that now offer regulated iGaming markets posted annual gains, with New Jersey’s 16.8% increase being the lowest improvement during the period.
Rhode Island was the last US state to regulate online casinos. The Ocean State made the move in 2023 and became the seventh state to offer licensed online casinos, with the first sites launching in March 2024.
With a gap of nearly two years without any further regulatory moves in other states, it could be argued that iGaming expansion in the US has stagnated somewhat. However, that hasn’t proven to be the case when looking at revenue.
In September, the seven regulated states reported $902.5 million in revenue. This was 0.9% down from August 2025, but it also represented a significant 26.7% increase from September 2024. What’s more, one or two states didn’t carry the increase; all seven showed double-digit annual gains.
State Performance
Pennsylvania showed the highest revenue figures. In September 2025, it posted $286.7 million of iGaming revenue, representing an impressive 26.1% increase compared to the same period in 2024.
Michigan and New Jersey also posted figures above $200 million, with monthly revenues of $259.1 million and $243.1 million, respectively.
Michigan’s revenue was up 27.9% annually, meaning it overtook New Jersey to have the second-highest revenue figures after New Jersey’s comparatively meager 16.8% improvement.
Next up was Connecticut. The Constitution State reported figures of $62.9 million, representing an impressive 44.6% annual gain.
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However, while Connecticut’s gains were impressive, they were dwarfed by the remaining three states.
West Virginia’s $34.2M monthly revenue was up 66% compared to 2024’s $20.6M, but it was Delaware that had the most significant increase.
Its revenue increased by 71.9% from $6.8 million in September 2024 to $11.6 million in September 2025.
Rhode Island has the smallest iGaming industry among the seven states, but its revenue increased from $3.2 million in September 2024 to $4.9 million in September 2025, a 53.3% year-over-year gain.
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Further iGaming Revenue Increases Ahead?
It is seemingly only a matter of time before we reach $1 billion of monthly iGaming revenue, even before more states come online.
Experts point to Maryland, Massachusetts, New York, and Illinois as being those most likely to introduce regulated online casino gaming in the near future.
Considering that nearly 40 states have regulated online sports betting, and many states are seeking ways to raise additional state funds, there could be a sudden increase in the coming years.
Opponents point to social problems caused by online gambling, as well as the potential to cannibalize existing retail casino markets.
Proponents, meanwhile, highlight not only the additional tax revenue but also the fact that regulation helps divert players from riskier black market sites to regulated, trustworthy platforms.
