Report Predicts Online Gambling Market to Triple by 2034
A new report into the global online gambling market has predicted that it is about to enter a dramatic growth phase. The online gambling market, which was valued at $78.77 billion in 2024, is expected to reach $220.85 billion by 2034. 
Ziv Chen
Last Updated: July 28, 2025 4:04 PM EDT • 2 minute readX SocialGoogle News Link
While the global online gambling industry accelerates, a new report has revealed that in the US, the majority of online gambling revenue is still being taken by illegal operators.
Commissioned by the Campaign for Fairer Gambling and compiled by market intelligence firm Yield Sec, the new study found that unlicensed offshore platforms accounted for 74% or around $67 billion out of the nation’s total $90.1 billion online gross gambling revenue in 2024. Meanwhile, legal operators such as the best sports betting sites brought in only $23 billion.
The report said there were 917 illegal gambling sites in the US, supported by 668 affiliates, which is six times the number that are linked to legal gambling sites. It also showed that these illegal sites use high-profile sports events and media exposure to attract American players, while avoiding tax and gambling rules.
States with limited or no laws on gambling, most notably Texas, California, and Ohio, were found to be at the most risk. Ohio alone reported $5.26 billion in illegal gambling revenue in 2024, which was the highest per capita figure nationwide. Even in states with legal online gambling like Pennsylvania and New Jersey, illegal operators still had a big market share.
The report concludes that legalizing online gambling does not automatically push out the black market, and the founder of the Campaign for Fairer Gambling, Derek Webb, emphasized that stronger enforcement is essential to curb illegal gambling and protect consumers.
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