According to a report from the Campaign for Fairer Gambling, unregulated online gambling, both sports books and icasinos, generated just under $100 billion in 2025; the $97.4 billion was an increase of 45% over 2024, when it was $67.1 billion. Unregulated igaming and sports betting accounted for 77% of the total gross gaming revenue last year. The report pegged regulated online-gambling revenue for 2025 at $28.3 billion, up 23% from 2024’s $23 billion. So the total take was $125 billion, a 40% increase year over year. Obviously, even the rapid expansion of regulated online gambling in the U.S. hasn’t cut into the size of the unregulated market.
Source: Las Vegas News