The results, published in the AGA’s Commercial Gaming Revenue Tracker, highlight sustained consumer demand and the expanding fiscal impact of regulated gaming markets across the United States.

“For another year, legal commercial gaming in the United States has delivered exceptional results for consumers, operators, and the communities we serve,” said Bill Miller, President and CEO of the AGA. “These record revenues and tax contributions demonstrate the broad appeal of regulated gaming markets and why strong state oversight remains essential as our industry evolves.”

Broad-Based Growth Across Vertical Segments

All 38 commercial gaming jurisdictions reported annual revenue increases in 2025, underscoring the nationwide momentum of regulated gambling.

Traditional brick-and-mortar gaming remained the largest segment, generating $50.94 billion in revenue (+2.3 percent) and contributing $11.33 billion in taxes, a 7.2 percent increase year-over-year.

Sports betting continued its rapid expansion, with revenue climbing 22.8 percent to $16.96 billion on a total handle of $166.94 billion (+11.0 percent). State-regulated sportsbooks delivered $3.71 billion in taxes, reflecting a 32.4 percent annual increase.

Meanwhile, iGaming maintained its position as the fastest-growing vertical. Online casino revenue reached $10.74 billion, up 27.6 percent, while tax contributions surged 36.9 percent to $2.59 billion.

Together, these figures reinforce the strength of consumer engagement with legal platforms and the economic value of state-regulated gaming frameworks.

State and Tribal Oversight Under the Spotlight

Beyond record-breaking revenue, the AGA emphasized the importance of maintaining gaming activity within established state and tribal regulatory systems.

Industry leaders have voiced concerns about prediction markets offering sports event contracts outside state and tribal oversight. According to the AGA, such platforms do not operate under the same consumer protection, responsible gaming, or tax contribution standards.

The association estimates that prediction markets offering sports-related contracts have diverted more than $500 million in potential sports betting tax revenue to date.

“With 2025 marking another record year, the industry’s performance reinforces a clear principle,” Miller added. “Sports betting belongs under state and tribal regulation. That’s how consumers are protected and how communities share in the benefits.”

As 2025 closes with historic highs in both revenue and public contributions, the data signals not only robust industry health but also the continued maturation of regulated gaming as a pillar of state and local economies across the U.S.