Eilers & Krejcik Gaming (EKG) has released its latest online game performance report providing insights into America’s iGaming market.
Using a database supported by Fantini Research, EKG analyzed more than 50,000 data points from 28 casinos across six U.S. states in its monthly report. The database provides EKG with access to data from roughly 64% of the U.S. iGaming market.
EKG projects gross gaming revenue from U.S. iGaming to reach $7.3 billion in 2024, up from $6.5 billion last year. In 2023, results included revenue from 44 casino brands.
Strong start to the year
Online casino brands reported favorable growth in Q1 2024 with gross gaming revenue closing at $2 billion for the quarter compared to $1.5 billion for the same period in 2023.
EKG found that three operators made up 89% of the iGaming market share in Q1 come from publicly traded companies with FanDuel and DraftKings leading the way.
FanDuel generated 35% of the total gross gaming revenue from iGaming in Q1 2024 nearly mirroring results from the Flutter Entertainment-owned brand in Q1 2023. DraftKings wasn’t far behind its rival in Q1 2024 with the operator making up 30% of gross gaming revenue during the quarter. It made up roughly 25% of total revenue in Q1 2023.
BetMGM closed with the third-best results for revenue share in Q1 2024 with the operator making up about 19% of revenue. By comparison, BetMGM made up roughly 15% of total revenue for the same period last year. Caesars Digital rounded out the top four with the operator closing Q1 2024 with roughly 5% of total revenue mirroring its results in Q1 2023.
Cash is king
Real money online casinos have dominated iGaming revenue for the past three years with the sector estimated to generate $7.4 billion in net revenue in 2023, up from $6.6 billion last year. The online casino industry is also benefiting from the growing popularity of sweepstakes gaming, which is projected to bring in $2.9 billion in net revenue this year.
By comparison, sweepstakes gaming net revenue in 2023 closed at roughly $1.9 billion.
Social casinos maintained their pace in 2024 with $3.4 billion in net revenue for the year. In 2023, the emerging casinos in 2023 saw net revenue reach the same mark.
IGT leads the way
EKG has also provided data regarding iGaming‘s top titles and their suppliers.
IGT’s Crash Eruption emerged as the overall top-ranked game in EKG’s monthly results. The title, which sees players wager an average $1.75 per bet, is available on 27 sites. Games Global’s Fish Em Up finished second in overall game rankings but is only available on four sites. AGS’ Capital Gains rounded out the top three averaging $2.20 per bet across 20 sites. AGS can expect Capital Gains to continue its upward trajectory.
Earlier this week, AGS announced a partnership with Rush Street Interactive to bring its Interactive division and iGaming content arm to BetRivers players across Delaware.
The launch makes Delaware the fifth state to host premium iGaming content from AGS.
In addition to providing monthly iGaming data, EKG provides comprehensive reports that provide insights into U.S. iGaming policies, and skins availability. The company also breaks down the viability of American casino apps.
