iGaming Sector CAGR up 1.3% Over Last Projection Period

The global iGaming market has gone from strength to strength over the past decade thanks to a range of fortuitous factors that have played directly into the hands of its on-demand and all-access USP. Data insight firm Mordor Intelligence finds that the compound annual growth rate for the iGaming sector from 2023 to 2030 is expected to maintain a steady projection of 11.7% percent, up from 10.4% over 2015–2022, an increase of 1.3%.

In general, the market has enjoyed healthy growth as it has steadily become the de-facto leader in the sports betting and casino gaming industries. In fact, as of 2024, online casino gaming now accounts for over 25% of all global revenues accrued by the casino industry and most analysts expect this portion to continue to grow.

It’s easy enough to understand why this would be the case. The smartphone revolution has opened up new markets across the globe for real money entertainment, mirroring the more general commerce trend away from brick-and-mortar stores and venues in favour of digital alternatives.

Market Health Post-PASPA

This has been coupled with regulatory reevaluations that have removed hurdles that limited the sector’s ability to compete in diverse regions. Most notably among these is the repeal of PASPA – a piece of US federal legislation that previously restricted access to stateside markets. Since being voted down in 2017, seven states have become hotspots for iGaming in the USA with many more soon to follow. The impact of this cannot be overstated – Delaware, for example, reported a state revenue increase of over 218% in its first quarter after partnering with a leading iGaming provider on its state lottery initiative.



More broadly, the shifting tone of the USA on iGaming has done a lot to promote its development around the world. For example, in India – now the world’s most populous country – interest and motivation towards accessing top tier iGaming services is only growing in spite of the nation’s complex patchwork of regulatory positions of the market. There, leading comparison platforms like Vegasslotsonline India are smoothing the way for gamers of the subcontinent to access competitive welcome bonuses and sign-up offers for use with a growing selection of leading casino title providers.

The Future

At present, the iGaming industry stands at approximately $78.9 billion globally, and is projected to hit $153.3 billion by the end of the decade. Some more reticent commentators have raised questions over this lofty figure, supposing that the industry is already arguably in a mature phase. The truth is more nuanced however. For a number of years, the iGaming sector has enjoyed great freedom in certain regions such as Europe and the UK, and it is reasonable to assume that the lion’s share of the sector’s growth in these markets is already behind us.

However new access to the US has enormous untapped potential. At present, seven states have welcomed iGaming into their regional markets but plenty more are set to follow – among them Illinois and New York which would permit the market access to a combined GDP of over $3 billion. It’s hard to know to what extent the industry will continue to penetrate into the US – California for instance, with a GDP of over $3.4 billion would amount to a significant coup, but thus far progress towards lifting existing regulations there have faltered.

There’s also the rest of the world to consider – both China and India have historically been restricted on iGaming, but even marginally greater openings towards real money entertainment could translate to significantly modulating the industry’s annual revenues. Africa is also another noteworthy consideration, with many of the next billion people expected to come online in the next 10 years expected to hail from that continent. Where internet connectivity comes, so do new opportunities and markets for digital services and iGaming is far from an exception in this respect.

Novel Technologies

Aside from market development, it has long been supposed that novel tech implementations could be behind some noteworthy upticks in global iGaming revenue. The sector has long sought to be a disruptor in the field and has eagerly embraced new technologies as they have come along – from Bitcoin to the metaverse. With the untapped potential of AI still looming, the market has great potential to continue its impressive expansion in the coming years.