KEY TAKEAWAYS
CONTENTS
U.S. Commercial Gaming Revenue: $78.72 Billion in 2025
U.S. commercial gaming generated $78.72 billion in gross gaming revenue in calendar year 2025, a 9.2% increase over 2024 and the sixth consecutive record year, according to the American Gaming Association’s Commercial Gaming Revenue Tracker. The total combines three verticals: traditional casino games at $50.94 billion, sports betting at $16.96 billion and iGaming at $10.74 billion. State-regulated gaming also generated $18.09 billion in gaming taxes, up 15.1%. This article compiles the national market size for 2022 through 2025 from the AGA’s published trackers and releases, shows each vertical, and calculates growth, shares and effective tax rates from those figures.
The tracker covers commercial gaming only and excludes tribal gaming, which is reported separately. All 38 commercial gaming states reported higher revenue in 2025 than in 2024, and the majority of commercial gaming revenue in 12 states now comes from online sports betting or iGaming. The headline total of $78.72 billion is the figure the AGA published in February 2026, and later AGA reports carry slightly different totals, as the Methodology section shows.
What Commercial Gaming Revenue Measures
Gross gaming revenue is the amount operators keep from wagers after paying winnings, measured before taxes and operating costs. For sports betting it is revenue, not handle, which is the total amount wagered. The AGA compiles the figure from state regulators’ revenue reports and groups it into three verticals: traditional casino gaming, which means slot machines and table games at land-based casinos, sports betting, and iGaming, which means online casino games in the states where they are legal.
The AGA defines commercial gaming as casino, sports betting and iGaming operations licensed by states, and it reports tribal gaming separately rather than in this total. Because the figures are compiled from many state reports, each with its own reporting date and definition, the AGA revises its totals over time. A total published in February for the prior calendar year is therefore a first release, and the AGA’s annual State of the States report, published in May, can differ slightly.
This article uses the first-release figures from the AGA’s February releases and trackers, and it labels every figure with the year and the document it comes from. A year-over-year growth rate published by the AGA is calculated against the prior year’s revised figure, so it can differ from a rate calculated between two first-release totals.
The Data: Total Revenue by Year, 2022 to 2025
Table 1 lists the national total for each year as first published, together with the growth rate the AGA stated in the same document.
| Year | Total revenue (first release) | Growth stated by the AGA | Document |
|---|---|---|---|
| 2022 | $60.42 billion | +13.9% over 2021 ($53.0 billion record) | CY 2022 tracker report |
| 2023 | $66.65 billion | +10.0% in tracker text; +10.2% in tracker table | CY 2023 tracker |
| 2024 | $71.92 billion | +7.5% over 2023 | February 2025 release |
| 2025 | $78.72 billion | +9.2% over 2024 | CY 2025 tracker |
Each year set a new record. The total rose by $6.23 billion from 2022 to 2023, by $5.27 billion from 2023 to 2024 and by $6.80 billion from 2024 to 2025, calculated from the first-release totals. The AGA’s 2025 growth rate of 9.2% is lower than the 9.45% obtained by dividing the 2025 first release by the 2024 first release, because the AGA measures 2025 growth against a revised 2024 base.
Over the three years from 2022 to 2025, the first-release total grew by 30.3%, which is an annual rate of about 9.2%. This calculation mixes figures from different releases and is therefore indicative rather than exact.
where: end value is the 2025 first-release total; start value is the 2022 first-release total; years is 3.
For this series, $78.72 billion divided by $60.42 billion is 1.303, and the cube root of 1.303 minus one is 9.2%.
Breakdown: Casino, Sports Betting and iGaming
Table 2 shows the three verticals for 2023, 2024 and 2025 as published in each year’s AGA tracker or release, with the sum of the verticals compared with the published total.
| Year | Traditional casino | Sports betting | iGaming | Sum of verticals | Published total | Residual (published total minus sum) |
|---|---|---|---|---|---|---|
| 2023 | $49.37 billion | $11.04 billion | $6.17 billion | $66.58 billion | $66.65 billion | $0.07 billion |
| 2024 | $49.78 billion | $13.71 billion | $8.41 billion | $71.90 billion | $71.92 billion | $0.02 billion |
| 2025 | $50.94 billion | $16.96 billion | $10.74 billion | $78.64 billion | $78.72 billion | $0.08 billion |
Traditional casino gaming remains the largest vertical at $50.94 billion in 2025, but it is growing slowest. The AGA reports it up 2.3% in 2025, against 22.8% for sports betting and 27.6% for iGaming. The published total exceeds the sum of the three verticals by $0.07 billion in 2023, $0.02 billion in 2024 and $0.08 billion in 2025. The AGA documents used here do not explain the residual, so it is shown as published.
Within traditional gaming, the CY 2025 tracker reports slot machines at $37.12 billion, up 2.9%, and table games at $10.07 billion, down 0.7%. The same tracker reports sports betting handle of $166.94 billion, up 11.0%, with revenue of $16.96 billion and a national hold of 10.16%. State-by-state and Nevada figures for these verticals appear in other WagerFacts compilations.
Comparison: Growth, Online Share and Taxes
where: vertical revenue is the AGA figure for one vertical; published total is the AGA first-release total for the same year.
| Year | Traditional casino share | Sports betting share | iGaming share | Gaming taxes (AGA) | Taxes as % of revenue |
|---|---|---|---|---|---|
| 2023 | 74.1% | 16.6% | 9.3% | $14.44 billion | 21.7% |
| 2024 | 69.2% | 19.1% | 11.7% | $15.66 billion | 21.8% |
| 2025 | 64.7% | 21.5% | 13.6% | $18.09 billion | 23.0% |
Traditional gaming’s share of the published total fell from 74.1% in 2023 to 64.7% in 2025, while sports betting rose from 16.6% to 21.5% and iGaming from 9.3% to 13.6%. The AGA’s tracker puts online gaming, meaning online sports betting and iGaming, at 34.5% of commercial revenue in 2025, up from 30.0% in 2024, when online revenue was $21.54 billion of $71.92 billion.
Gaming taxes reached $18.09 billion in 2025, up 15.1%, after $15.66 billion in 2024 and $14.44 billion in 2023. Dividing taxes by the published revenue total gives 21.7% in 2023, 21.8% in 2024 and 23.0% in 2025. This ratio is a blended figure across all verticals, and the AGA notes that operators of skill machines, sweepstakes sites and event contract platforms pay no state gaming taxes, so it is not a statutory rate.
Methodology & Limitations
Datasets: American Gaming Association, Commercial Gaming Revenue Tracker CY 2022 report, CY 2023 report and CY 2025 report, and the AGA’s February 2025 and February 2026 releases on 2024 and 2025 results, all accessed October 2026. The AGA’s State of the States reports for 2024, 2025 and 2026 are used only to compare revised totals. Figures are reproduced as published in billions of dollars.
Calculations: shares divide a vertical by the published total of the same year; the sum of verticals adds the three published vertical figures; the residual subtracts that sum from the published total; taxes as a share of revenue divide the AGA tax estimate by the published total; the compound annual rate uses the formula shown above. No figure in this article is a forecast or an estimate by WagerFacts.
| Year | First release (tracker) | State of the States | Difference |
|---|---|---|---|
| 2023 | $66.65 billion | $66.66 billion | +$0.01 billion |
| 2024 | $71.92 billion | $72.04 billion | +$0.12 billion |
| 2025 | $78.72 billion | $78.62 billion | -$0.10 billion |
Limitations: the AGA revises figures, so first-release totals from different years are not a consistent vintage, and growth rates calculated across them differ from the AGA’s stated rates. The 2023 tracker text and table give different growth rates, shown in Table 1. Tribal gaming is excluded from the totals. The AGA’s State of the States report states that its own sports betting total excludes tribal sportsbooks and Florida’s tribal mobile betting. Revenue is gross gaming revenue, not profit. Definitions and reporting dates differ by state.
Key Figures at a Glance
The table below summarizes the core national figures for calendar year 2025 as first published by the AGA.
| Figure | Value | Period | Source |
|---|---|---|---|
| Total commercial gaming revenue | $78.72 billion | CY 2025 | AGA tracker |
| Traditional casino gaming | $50.94 billion | CY 2025 | AGA tracker |
| Sports betting revenue | $16.96 billion | CY 2025 | AGA tracker |
| iGaming revenue | $10.74 billion | CY 2025 | AGA tracker |
| Online share of revenue | 34.5% | CY 2025 | AGA tracker |
| Gaming taxes | $18.09 billion | CY 2025 | AGA release |
| Growth rate, first-release totals 2022 to 2025 (annual) | 9.2% | 2022 to 2025 | Calculated from AGA |
Related Data and Next Steps
The vertical figures here connect to other WagerFacts compilations. For the sports betting vertical in detail, see U.S. sports betting handle and revenue for 2025, and for how one state’s casino win splits by game, see Nevada casino win and hold by game. Future updates can add 2021 and earlier years from the AGA archive, state-level market sizes, and international regulated markets from national regulators. The 2025 total of $78.72 billion is the benchmark for this series.
Frequently Asked Questions
Sources & References
- American Gaming Association — Commercial Gaming Revenue Tracker, CY 2025 (accessed October 2026)
- American Gaming Association — Commercial Gaming Revenue Hits $78.7 Billion in 2025, February 26, 2026 (accessed October 2026)
- American Gaming Association — 2024 Commercial Gaming Revenue Reaches $71.9B, February 19, 2025 (accessed October 2026)
- American Gaming Association — Commercial Gaming Revenue Tracker, results for calendar year 2023 (accessed October 2026)
- American Gaming Association — Commercial Gaming Revenue Tracker, CY 2022 report (accessed October 2026)
- American Gaming Association — 2022 Commercial Gaming Revenue Tops $60B, February 15, 2023 (accessed October 2026)
- American Gaming Association — State of the States 2026 (accessed October 2026)
- American Gaming Association — State of the States 2024 report (accessed October 2026)
- American Gaming Association — State of the States 2025 (accessed October 2026)
