U.S. Online Casino Market Maintains Strong Momentum in April

The regulated U.S. online casino market showed continued strength in April 2025, with all seven participating states reporting at least 25% year-over-year growth. Total operator revenue across the regulated states reached $868.6 million for the month, up 32.5% from April 2024—an increase of more than $213 million.

This performance came on the heels of a record-setting March, when the combined revenue across regulated markets surpassed $900 million. April’s numbers reflect only a modest decline from that peak, suggesting the March results were not an anomaly but part of a broader trend of rising engagement and spending in digital casino products.
Steady National Gains Driven by Core Markets

Known wagering handle for April totaled $10.2 billion, though this figure does not include Michigan and New Jersey, which do not release monthly handle data. Pennsylvania once again led the nation with over $7.5 billion in known handle, underscoring its position as the largest regulated online casino market in the country.

Connecticut’s contribution to that total exceeded $1.6 billion for the third time in four months. While much smaller than Pennsylvania, the state’s consistent high handle shows its outsized impact relative to its population and number of operators.

Taxable operator revenue came in at $787.9 million in April, up from the same month last year by $43.9 million. State governments collected $169.3 million in taxes, not including additional revenue from local taxes or tribal agreements. The steady climb in tax proceeds points to the sector’s growing fiscal importance, particularly as states weigh new or expanded forms of digital gambling legislation.

Metric	April 2024	April 2025	Year-over-Year Change
Total Revenue (All States)	$655.6 million	$868.6 million	+32.5%
Known Wagering Handle	—	$10.2 billion	—
Pennsylvania Handle	—	$7.5 billion+	—
Connecticut Handle	~$1.3 billion	$1.6 billion	+23.1%
Connecticut Gross Revenue	$41.5 million	$61 million	+47%
DraftKings CT Revenue	$22.9 million	$31.6 million	+38.3%
FanDuel CT Revenue	$18.5 million	$29.2 million	+57.6%
Total Tax Revenue (States)	$125.4 million	$169.3 million	+34.9%

Spotlight on Connecticut

Among the seven regulated states, Connecticut stood out for the second month in a row. Operating as a two-player market dominated by DraftKings and FanDuel, the state continued to deliver robust results despite its small size.

DraftKings led the way with an aggressive promotional campaign, spending nearly $11 million in April. This marked the second straight month of eight-figure marketing outlays for the operator and the highest on record for the state. The promotions made up 1.4% of DraftKings’ $816.4 million in drop, suggesting a targeted effort to increase customer acquisition and retention.

That investment paid off, with DraftKings posting $31.6 million in gross revenue—its best month to date. The result was a 38.3% year-over-year increase and nearly $3.2 million more than its previous record set just one month earlier.

FanDuel Casino also delivered a strong performance, generating $29.2 million in gross winnings, narrowly surpassing its March total by $30,000. Although the month-to-month gain was modest, the year-over-year growth rate stood at 57.6%. FanDuel’s promotional spend exceeded $6 million for the fifth straight month but remained below 1% of handle, indicating a more conservative marketing approach compared to DraftKings.

Connecticut’s overall online casino market totaled $61 million in winnings, a 47% increase from the previous April. Handle grew by 23.1% to reach $1.6 billion, reinforcing the state’s upward trend and growing importance in the national online gaming landscape.

Broader Implications and Industry Outlook

April’s data highlights the continued health and expansion of regulated online casino gaming in the United States. With every state in the regulated market achieving at least 25% annual growth, the consistency of the sector’s performance suggests durable consumer interest and effective operator strategies.

The balance between aggressive marketing and efficient revenue generation remains a critical factor. In Connecticut, DraftKings’ willingness to spend heavily appears to be driving both top-line growth and improved hold, while FanDuel’s more measured promotional efforts are also yielding significant gains. The contrast offers insight into evolving playbooks across the industry.

 

With every regulated state reporting at least 25% year-over-year growth, April’s results reinforce the durability of consumer demand and the strategic value of promotional spending in driving record revenue.

 

The Future

Looking ahead, questions remain about whether growth can continue at this pace, particularly as markets mature and acquisition costs rise. However, the April results—backed by strong March performance—point to a market that is not yet saturated and remains capable of setting new benchmarks.

With legislative interest in expansion ongoing in several states, and the potential for technological innovation in live dealer games, loyalty programs, and cross-platform integration, the online casino sector is likely to remain a key focus for operators and regulators alike in the months ahead.