KEY TAKEAWAYS
CONTENTS
Online Casino Revenue per Resident: New Jersey Leads, Michigan Grows Fastest
WagerFacts’ analysis of regulator data finds that online casino revenue per resident was highest in New Jersey at $304.90 in 2025, ahead of Michigan at $286.46 and Pennsylvania at $212.53. The calculation divides each state’s published 2025 internet gaming revenue by its July 1, 2025 resident population from the U.S. Census Bureau. Michigan had the fastest growth, with adjusted gross receipts up 31.97% from 2024, and added the most revenue per resident, $69.40, while New Jersey added $54.89 and Pennsylvania $45.48. The ranking between New Jersey and Michigan is sensitive to which Michigan measure is used, a point the sensitivity section tests. Every input comes from a state regulator or the Census Bureau, and every calculation is shown so that it can be reproduced.
The Question and the Datasets
The question is how large the regulated online casino market is relative to each state’s population, and how quickly it grew in 2025. Raw revenue totals favor larger states, so a per-resident measure puts the three states on a common scale. Pennsylvania, New Jersey and Michigan were chosen because each regulator publishes a calendar-year 2025 and 2024 figure for online casino games, usually called iGaming, and because all three report them for the full state.
Pennsylvania’s figure is iGaming revenue from the Pennsylvania Gaming Control Board. New Jersey’s is Internet Gaming Win from the Division of Gaming Enforcement. Michigan’s primary figure is internet gaming adjusted gross receipts from the Michigan Gaming Control Board’s 2025 annual report, with the board’s rounded gross receipts figure of $3.09 billion used as a second test. Population comes from the Census Bureau’s Vintage 2025 estimates for July 1, 2025.
Each regulator uses its own term and its own treatment of promotional credits, which is why this article is an analysis of published figures rather than a claim that the three numbers are measured identically. The Methodology section lists the differences.
The Data: Published 2025 Revenue and Population
| State | 2025 revenue | 2024 revenue | Population, July 1, 2025 |
|---|---|---|---|
| Pennsylvania | $2,775,554,529 | $2,181,669,449 | 13,059,432 |
| New Jersey | $2,911,241,318 | $2,387,164,172 | 9,548,215 |
| Michigan | $2,901,265,126 | $2,198,379,380 | 10,127,884 |
The three published 2025 figures are within about $136 million of each other, at $2.78 billion to $2.91 billion, but the populations differ by about 3.5 million residents between Pennsylvania and New Jersey. That population gap is what separates the states once revenue is expressed per resident. Michigan’s 2025 gross receipts figure is published by the regulator only in rounded billions, at $3.09 billion in the annual report, so it is used only in the sensitivity test and not in the main table.
Results: Revenue per Resident
where: revenue is the figure in Table 1 for the state; population is the Census Bureau Vintage 2025 estimate.
| State | Revenue per resident | Increase per resident vs. 2024 | Growth vs. 2024 |
|---|---|---|---|
| New Jersey | $304.90 | $54.89 | 21.95% |
| Michigan | $286.46 | $69.40 | 31.97% |
| Pennsylvania | $212.53 | $45.48 | 27.22% |
New Jersey’s $304.90 per resident is 43.5% above Pennsylvania’s $212.53, a difference of $92.37. Michigan’s $286.46 is 34.8% above Pennsylvania’s. Pennsylvania has the largest population of the three, 13,059,432, and the lowest figure per resident, so its market is smaller relative to its population than the other two even though its total revenue is within 5% of New Jersey’s.
Taken together, the three states recorded $8,588,060,973 across 32,735,531 residents, which is $262.35 per resident. That combined figure is the total revenue divided by the total population, and it is not the simple average of the three state figures, which would be $267.96; averaging the rates overstates the combined rate because Pennsylvania, the lowest, has the most residents.
Sensitivity: Growth Rates and Definitions
Michigan’s adjusted gross receipts grew 31.97%, from $2,198,379,380 to $2,901,265,126, which is faster than Pennsylvania’s 27.22% and New Jersey’s 21.95%. New Jersey’s regulator reports 22.0% for the same change, which matches when rounded to one decimal. Michigan’s adjusted gross receipts were 92.1% of New Jersey’s win in 2024 and 99.7% in 2025, calculated from the two regulators’ totals, so its faster growth nearly closed the gap in total dollars.
The ranking of New Jersey and Michigan is the weakest result. Using Michigan’s adjusted gross receipts, New Jersey is $18.44 per resident higher. Using Michigan’s rounded gross receipts of $3.09 billion, Michigan is about $305 per resident, and the rounding range of $3.085 billion to $3.095 billion gives $304.60 to $305.59, which includes New Jersey’s $304.90. At the precision the regulators publish, the two states are effectively tied on a gross measure, and New Jersey is clearly ahead only when Michigan’s adjusted measure is used. Pennsylvania remains lowest under every definition tested.
Methodology & Limitations
Datasets and access date, all accessed in October 2026: Pennsylvania Gaming Control Board, year-end revenue release of January 21, 2026 (iGaming revenue, calendar years 2025 and 2024); New Jersey Division of Gaming Enforcement, December 2025 gaming revenue release of January 16, 2026 (Internet Gaming Win, year to date, 2025 and 2024); Michigan Gaming Control Board, 2025 Annual Report and the January 21, 2026 release (internet gaming adjusted gross receipts, 2025 and 2024, and rounded gross receipts); U.S. Census Bureau, QuickFacts, Vintage 2025 population estimates for July 1, 2025.
Calculations: revenue per resident divides each revenue figure by the state’s population; the increase per resident divides the dollar change from 2024 by the 2025 population; growth is the change divided by the 2024 value; percentage differences between states divide one per-resident figure by the other minus one; the combined rate divides the sum of revenue by the sum of population. All figures are rounded only for display.
Limitations: the revenue definitions are not identical, since Pennsylvania reports iGaming revenue, New Jersey reports win and Michigan reports adjusted gross receipts, which its regulator publishes separately from gross receipts, so differences in deductions such as promotional credits can affect comparisons. Revenue covers calendar year 2025 while population is a July 1 estimate. Using 2025 population for the 2024-to-2025 increase ignores population change within the year. Population measures all residents, not adults of legal age, and the markets are open to people physically in each state, including visitors. Regulators may revise their figures, and only three states are covered. The analysis describes published numbers and does not explain why the states differ.
Key Figures at a Glance
The table summarizes the results for calendar year 2025.
| Figure | Value | Period | Source |
|---|---|---|---|
| New Jersey revenue per resident | $304.90 | CY 2025 | Calculated from DGE and Census |
| Michigan revenue per resident (adjusted gross receipts) | $286.46 | CY 2025 | Calculated from MGCB and Census |
| Pennsylvania revenue per resident | $212.53 | CY 2025 | Calculated from PGCB and Census |
| Michigan growth in adjusted gross receipts | 31.97% | 2025 vs. 2024 | Calculated from MGCB |
| Pennsylvania iGaming growth | 27.22% | 2025 vs. 2024 | PGCB |
| New Jersey Internet Gaming Win growth | 22.0% | 2025 vs. 2024 | DGE |
| Combined revenue per resident, three states | $262.35 | CY 2025 | Calculated |
Related Data and Next Steps
For the full Pennsylvania category breakdown behind the first row of inputs, see Pennsylvania gambling revenue by type, and for the national total, see U.S. commercial gaming market size by year. Later versions can add more states, per-adult measures using Census figures for residents 18 and older, and a monthly seasonality view. The 2025 spread of $92.37 per resident between New Jersey and Pennsylvania is the headline result of this analysis.
Frequently Asked Questions
Sources & References
- Pennsylvania Gaming Control Board — PA Gaming Control Board Reports Record Gaming Revenue for 2025, January 21, 2026 (accessed October 2026)
- New Jersey Division of Gaming Enforcement — December 2025 Gaming Revenue Results, January 16, 2026 (accessed October 2026)
- New Jersey Office of the Attorney General — DGE Announces December 2025 Total Gaming Revenue Results (accessed October 2026)
- Michigan Gaming Control Board — 2025 Annual Report (accessed October 2026)
- Michigan Gaming Control Board — iGaming and sports betting revenue release, January 21, 2026 (accessed October 2026)
- U.S. Census Bureau — QuickFacts, population estimates July 1, 2025 (V2025), Pennsylvania and New Jersey (accessed October 2026)
- U.S. Census Bureau — QuickFacts, state population ranking July 1, 2025 (V2025), including Michigan (accessed October 2026)
