Unregulated Online Gambling Generates $97.4 Billion in US Revenue During 2025

Researchers at Gambling Compliance International released findings in August 2026 that detail how unregulated online gambling produced $97.4 billion in gross gaming revenue across the United States in 2025, and those figures represent 77 percent of the entire $125.6 billion online market that year.

Study Commissioned by Campaign for Fairer Gambling

The report titled GCI_CFG_USA-2025 examines the split between regulated and unregulated segments, and it shows unregulated operators captured the majority share while growing at a faster pace than their licensed counterparts.

Year-Over-Year Growth Rates Compared

Data indicates the unregulated sector expanded by 45 percent from the previous year, whereas the regulated market advanced 23 percent from $23 billion to $28.3 billion, and observers note this difference means illegal platforms nearly doubled the growth rate of state-approved options.

Legalization Effects on Overall Market Size

According to the analysis, legalization efforts have increased total market volume without reducing activity among offshore operators, and states without regulated iGaming or sports betting options recorded notably lower per capita spending on online gambling activities.

Figures reveal that the $97.4 billion in unregulated revenue came primarily from platforms operating outside state oversight, while the regulated portion reached $28.3 billion through licensed operators in jurisdictions that permit such activities.

Per Capita Spending Variations Across States

States that lack regulated frameworks show significantly lower per capita online gambling spend, and this pattern holds even as the national total climbs, according to the breakdown provided in the GCI study commissioned by the Campaign for Fairer Gambling.

Experts who reviewed the numbers point out that the 45 percent growth in the unregulated segment outpaced the 23 percent rise in regulated revenue, and this gap persisted despite expansions in legal markets during 2025.

Market Share Breakdown for 2025

The total online market stood at $125.6 billion, with unregulated operators taking $97.4 billion and regulated ones accounting for the remaining $28.3 billion, and these proportions stayed consistent even as both areas expanded from prior years.

Those who examined state-level data found that jurisdictions without legal iGaming or sports betting options experienced reduced per capita participation, whereas states with established regulated systems contributed more evenly to the licensed revenue total.

Key Data Points from the National Report

Research indicates the unregulated growth rate reached 45 percent year-over-year, and this occurred alongside a 23 percent increase in the regulated sector that moved from $23 billion to $28.3 billion in gross gaming revenue.

People who track these trends note the report links higher overall market expansion to the presence of legal options, yet it also shows unregulated operators maintained their dominant position without apparent decline from new regulations in select states.

Conclusion

The GCI_CFG_USA-2025 report presents these 2025 figures as evidence that unregulated online gambling continues to form the bulk of US player losses, and the data connects legalization patterns directly to differences in per capita spend across states. Observers note the 45 percent unregulated growth rate and the 23 percent regulated increase together illustrate how the market split developed during that period.