Online gambling continues to grow at a rapid pace, and online casinos are at the forefront of this expansion. The global market for online casinos is projected to reach US$35.01 billion in revenue by 2024, with a steady annual growth rate expected to continue. In this article, we will take a look at the countries with the largest online casino markets, drawing from current projections and growth trends.
1) United States
- Projected Revenue: US$9 billion (approx.)
- Growth Rate: Strong growth expected due to expanding state-level legalization
The United States has witnessed significant growth in the online casino market, especially with new state-level regulations making online gambling more accessible. States like New Jersey, Pennsylvania, and Michigan are leading the charge, offering legalized online casino options. As more states approve online gambling, the market is projected to continue expanding.
2) United Kingdom
- Projected Revenue: £4.8 billion (approx. US$6 billion)
- Growth Rate: Stable with moderate increases expected
The UK remains a dominant force in online casinos, with a regulated market that fosters growth and innovation. Online casino revenues are primarily driven by poker, sports betting, and a wide array of casino games. The Gambling Commission plays a key role in maintaining market stability, ensuring transparency and consumer protection.
3) Germany
- Projected Revenue: €2.8 billion (approx. US$3 billion)
- Growth Rate: Strong, driven by a recent shift toward regulated markets
Germany has recently opened up its market to more regulated online gambling, which is fueling its growth. With the implementation of the new State Treaty on Gambling, more online casinos are becoming licensed, attracting a surge in both domestic and international players. The country has a strong base of online gamblers, with an increasing number of users flocking to legalized platforms.
4) Italy
- Projected Revenue: €1.6 billion (approx. US$1.7 billion)
- Growth Rate: Consistent with a small but dedicated user base
Italy’s online gambling market is one of the largest in Europe, thanks to its regulated environment and widespread adoption of online gaming platforms. The Italian market has seen a steady increase in both players and revenue, aided by popular casino games such as poker, slots, and baccarat.
5) France
- Projected Revenue in 2024: €1.5 billion (approx. US$1.6 billion)
- Growth Rate: Steady, with a focus on expanding legal markets
France’s online casino market has seen consistent growth, despite a highly regulated landscape. The French government tightly controls online gaming, but this hasn’t stopped the market from growing. Popular games like online poker and casino slots remain the core revenue drivers.
6) Spain
- Projected Revenue: €1.3 billion (approx. US$1.4 billion)
- Growth Rate: Moderate, driven by a stable user base
Spain has seen a rapid increase in online gambling participation over the last decade. The country’s strict regulatory framework ensures that the market operates transparently, attracting both local players and international operators. With a growing interest in mobile gaming, Spain’s online casinos continue to thrive.
7) Australia
- Projected Revenue: AU$2 billion (approx. US$1.3 billion)
- Growth Rate: Moderate, with some fluctuation based on regulatory changes
Australia’s online casino market has grown steadily in recent years, thanks to a strong base of online players and well-regulated betting practices. The Australian Communications and Media Authority (ACMA) helps to oversee legal gambling activities, and the market continues to be popular among both locals and international players.
8) Canada
- Projected Revenue: CA$1.5 billion (approx. US$1.1 billion)
- Growth Rate: Steady growth, with increasing interest in provincial online casinos
Canada’s online casino market is also growing at a solid rate. The country has a mix of provincial regulations, with Ontario leading the charge by launching its own regulated iGaming market. Casinos such as this Canadian brand are driving rapid adoption. This shift has led to increased revenues and a wider variety of casino offerings for players.