GTE USA / Sectors / iGaming

iGaming

$10.7B +27.6% a year

Seven states generate all $10.7 billion of US iGaming revenue — growing 27.6% a year. Together they out-earn the United Kingdom’s entire online gambling sector, with 60% of the population.

$10.7B
2025 revenue, up 27.6%
7
States generating all of it
~40M
Americans in live states
~$268
Per-capita spend, vs ~$94 UK
Where we buy — national broadcast, cable and Connected TV
The map

Where igaming is live.

Live 7 states
Legalized, not launched 1
Active legislation 3
Not yet legal
~40M
Americans in live states
~$268
Per-capita spend vs ~$94 UK
2x
If NY, IL & MA legalize
Live: NJ, PA, MI, CT, WV, DE, RI. Maine legalized, not launched. NY, MA and IL weighing legislation. July 2026. Source: American Gaming Association.
What matters

The read on this market.

December 2025 was the first billion-dollar month

US iGaming cleared $1B in a single month for the first time. In Pennsylvania and New Jersey, online casino revenue now exceeds land-based casino revenue — a first in both states.

The map is the opportunity, not the obstacle

All of it comes from seven states. New York, Illinois and Massachusetts are actively weighing legislation. If they pass, the addressable population roughly doubles overnight — and the operators already on air next door are first through the gate.

Measurement is cleaner here than almost anywhere

State-by-state licensing hands you a natural test-and-control structure. Launch TV in one state, hold out comparable markets, read incremental installs, registrations and first-time depositors directly. No modelling leap of faith.

Three times the UK, per head

US per-capita iGaming spend runs nearly 3x the UK while growing 27.6% against single digits. Ontario — the closest structural comparison — grew iGaming 40% in 2025. That is the trajectory each new state should be expected to follow.

Live iGaming states
StatePopulation2025 market note
Pennsylvania13.0M$3.46B — largest US market
Michigan10.1MTop-three iGaming market
New Jersey9.5MPioneer market; $12.2B sports handle
Connecticut3.7MDuopoly, high per-capita spend
West Virginia1.8MEstablished, underserved
Rhode Island1.1MNewest live market
Delaware1.0MFirst state to legalize
Why TV here

Built for this market.

Entertainment and news, not just sport

iGaming converts across entertainment, factual and news at broader dayparts and lower CPMs than live sport. We plan it differently from sports betting, on purpose.

Compliance built into delivery

CTV geo-fences at household level, so ads run in licensed states only — documented and auditable. Linear is planned by DMA against your licence map.

The media

What you can actually reach.

120M
US households watch Connected TV — 243.6 million viewers
47.5%
Of all US TV time is now streaming (Nielsen, Dec 2025)
210
DMAs — the local units linear TV is bought in, mapping to licence lines
$38B
Projected US CTV ad spend in 2026
How it’s bought

Four routes in. Two are yours.

RouteTimingRead
The Upfront12–18 months aheadBillion-dollar commitments. Wrong door for a market entrant.
Scatter2–13 weeks aheadYour linear entry. Flexible, market-priced, includes local DMA buys
Programmatic CTVDaysYour fastest entry. Geo-fencing built in. Minimums $25K–$50K
Managed serviceWeeksDirect with Hulu, Peacock, Amazon, YouTube. $100K+ minimums

The operational surprise nobody warns you about: most US networks require a US-registered entity, US credit, or a US-based Agency of Record to transact at all. We are that AOR. One signature and you’re transactable in America.

What it costs

Directional, and honest.

FormatTypical CPMRead
Live sport (NFL / NBA)$18–$40+Most expensive inventory in US TV — and the best betting adjacency
Broadcast primetime$13–$30+Mass reach, trust halo
Premium CTV$13–$30Geo-fenced, measured, brand-safe
Programmatic CTV$8–$23The workhorse of a compliant launch
National cable$4–$18Efficient frequency layer
AVOD (Tubi, Pluto, Roku)$6–$15Cheap incremental households
Local broadcast / cable$3–$10Licensed-state DMAs at regional cost
Live in 30 days

Signature to on air.

Week 1 — Map and plan

Licence map confirmed. Target states, audiences and budget set. State-by-state plan across linear DMAs and CTV. Creative brief agreed.

Week 2 — Produce

Script to finished spot. We produce your broadcast-ready creative, included. Compliance and responsible-gaming elements built in at production, not patched in after a rejection.

Week 3 — Clear and book

Network clearances secured. CTV campaigns built with state geo-fencing. Linear placements booked.

Week 4 — Launch and measure

Live on CTV, linear flights begin. Measurement baseline set from day one: geo-level incrementality design, promo tracking, MMM inputs.

Measurement

TV you can hold accountable.

Geo-level incrementality

Matched-market designs across DMAs and states. The gold standard for proving TV causes growth, not just correlates with it.

Impression-level CTV data

Every impression logged by household geography, feeding cost-per-install and cost-per-first-time-depositor by state, daypart and creative.

Spike analysis

Minute-by-minute response in downloads, site traffic and brand search after every linear spot airs.

Marketing mix modeling

TV’s contribution read alongside every other channel, so budget follows evidence, not attribution bias.

Weekly reporting: cost per install and cost per first-time depositor, by state, by daypart, by creative. If TV isn’t paying back, we’ll be the ones to show you.

Free · 21 pages

The US Playbook

Every vertical mapped. Footprints sized, buying routes explained, costs benchmarked, compliance and measurement laid out.

Get in touch

Contact

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