US Online Casino Revenue Reaches $1.03 Billion In May

For the fifth time in the last six months, US online casino revenue surpassed $1 billion in May.

Last month, the seven iGaming states produced $1.03 billion in revenue, a 14.7% increase compared to May 2025, and a 2.4% increase from April.

Clearing the $1 billion mark happened for the first time in December, but now US iGaming is clearing that bar with some relative ease each month.

May’s US Online Casino Revenue Breakdown

Six of the seven legal online casino states saw revenue increases year-over-year of at least 10%. Only Connecticut was left out of the mix, as it saw just a 4.3% increase, which has been low based on recent months.

Here’s a look at each of the seven iGaming state’s year-over-year comparison for May. It should be noted that some states individually report their adjusted gross revenue (AGR), which removes promotional spend from their wins. This table reflects the gross gaming revenue, which is the total prior to the promo spending being taken out.

Growth Rates Starting to Slow

May is the fifth time in six months that the US has crossed that $1 billion mark for revenue, a big milestone.

February was the lone month that didn’t hit that mark, but that was to be expected from the lowest month of the year.

• December: $1.04 billion
• January: $1.00 billion
• February: $946.2 million
• March: $1.06 billion
• April: $1.00 billion
• May: $1.03 billion

Though that $1 billion mark keeps getting hit, the year-over-year gains are starting to slow compared to what we saw at the end of 2025. May marked the second consecutive month that year-over-year revenue growth was under $132 million.

• December: $188.4 million
• January: $165.7 million
• February: $164.1 million
• March: $159.5 million
• April: $131.8 million
• May: $131.9 million

Certainly still adding revenue by these amounts is a great sign for the iGaming states, as we should continue to see improved revenue reports each month. But, the declining growth rates tell us that there will eventually be a cap for just how high these iGaming markets can climb.

Michigan Propelling US to $12 Billion 2026

With May once again pushing past $1 billion, US iGaming revenue now sits at $5.04 billion for 2026 through five months.

That puts the country on pace to surpass $12 billion in revenue for the year, a goal that should easily be within reach given year-to-year trends.

While we are seeing some slow down in the yearly growth, one state out of the big three markets is continuing to have bigger jumps than its peers. That is Michigan.

While Pennsylvania and New Jersey have been hovering more around 10-15% year-over-year growth in recent months, Michigan has been able to stay above 20% throughout 2026.

Michigan online casino revenue has been able to maintain high growth rates thanks to the addition of Hard Rock Casino and bet365 Casino to the state over the last six months.

The two operators, backed by the Hard Rock Casino bonus code and bet365 Casino bonus code, have heavily outperformed their predecessors in short order and helped Michigan close the gap on Pennsylvania.