Americas’ online revenue set to match Europe’s by 2028

Projections place online casino revenue in the Americas at $56.3 billion by 2023, matching that of Europe.

The combined revenue of North and South America is expected to reach new heights, equalling Europe, according to projected figures in a new report by Vixio. At the moment, only seven American states offer regulated online casino gambling. However, just three of those — New Jersey, Pennsylvania, and Michigan — have surpassed $685 million in revenue in the first quarter of 2025.

All three also set all-time monthly records in either gross or adjusted revenue in March 2025, highlighting the sustained growth. This contributes to the projected American figures, with the possibility for strong forward movement.

“Prior to 2018, the regulated online gambling market was highly euro-centric,” explained James Kilby, chief analyst at Vixio, in the report. “But legalization of sports betting and iGaming in various US states as well as the major markets of Ontario and Brazil has coincided with stricter regulations in European countries that has restricted growth in a number of cases.”

With growth already strong in North America, Vixio predicts that these industry trends can be met in Canada, Latin America, and South America too. The intelligence company predicts a compound annual growth rate (CAGR) of 20.3% for the regions from 2023 through 2028, sparking revenue increase from $22.3 billion to $56.8 billion.

Specifically, the report highlights Canada’s Ontario and South America’s Brazil as two markets set to boom in particular. This comes hand in hand with growth slowing down in Europe, with revenue projections rising from €30 billion ($33.34 billion USD) in 2022 to €37.3 billion ($41.45 billion) by 2026.

Argentina is also an opportunity for major growth, dependent on regulations that are still in the works in the country. There are possible predictions for online gambling revenue of as much as $500 million by 2028, provided the country can overcome the impact of a bill from last year that banned all adverts of online gambling.

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