Because individual states regulate gambling in the United States, it can be a little difficult to get a concrete number on the value of the entire US gambling industry. Recent attempts at putting a figure on it anyway vary somewhat on that exact number.

Analysts can agree on one point in their analyses, however. The future looks bright for the industry overall, and online gambling is a big part of that optimistic appraisal.

Just how much is the US gambling industry worth right now?

PlayUSA did a US gambling industry analysis of its own earlier this month, putting a number of $215 billion on all gaming activity that happens legally within the United States. That includes both commercial and tribal brick-and-mortar casinos, online casinos, pari-mutuel wagering on horse races, poker of both the in-person and internet varieties, sports betting, and state lotteries.

To be clear, that isn’t a summation of the revenue that all those gambling channels are currently producing. A better descriptor of the number would be what it would cost a person if they wanted to purchase all those gambling avenues.

A separate analysis that Global Industry Analysts performed in July 2022 was even more generous in its appraisal. According to a press release, that firm estimates all legal gambling in the US is currently worth $267.5 billion.

While that assessment expects Asia’s gambling markets to grow at a faster pace over the next four years, it is far from pessimistic about the future of the gaming industry in the US. The same goes for PlayUSA‘s outlook.

Is a $300 billion valuation realistic in the next few years?

Especially if you lean more toward the Research and Markets assessment, $300 billion isn’t a crazy number. The firm breaks down why even though it’s possible with even a conservative outlook.

The release states that it expects the US market to post a CAGR (Compound Annual Growth Rate) of at least three percent over the next four years. Because that’s compound growth, meaning each year’s growth expands by three percent of the previous year’s number as opposed to three percent of the original figure, the US market could be pushing $300 billion by 2026. Here’s a breakdown assuming a flat three percent CAGR each year.

• 2023: $275.5 billion ($267.5 billion+3% of 267.5 billion)
• 2024: $283.7 billion
• 2025: $292.2 billion
• 2026: $300.9 billion

Even using the figure of $215 billion as a starting point and assuming the same flat three percent CAGR each year gets the US gambling industry to $288.4 billion by 2032. If any of those years see greater than three percent growth, $300 billion isn’t far away.

The Global Industry Analysts study breaks down what’s behind that three percent CAGR expectation. It points to:

• Advances in features on mobile devices that make online gambling easier
• Diversification of gambling options at brick-and-mortar casinos
• Rise of peer-to-peer betting platforms

The PlayUSA analysis also points to more jurisdictions in the US legalizing more forms of online gambling. Furthermore, a rise in state lotteries making online sales channels available will contribute to expansion as well.

The bottom line right now is that the US gambling business is a good one to be in, and it could get a lot better in the near future.