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America’s two largest licensed operators added billions in 2025. But the unregulated sector remained larger and, in some ways, harder to dislodge than ever. FanDuel and DraftKings, the two dominant licensed online gambling operators in the United States, both posted strong growth in 2025. FanDuel’s estimated Competitive Earning Baseline rose 16.9%. DraftKings grew 16.1%. Under […]
New Jersey tracks 334 online gambling brands operating within its borders. 33 of them hold a state license. The rest (301 offshore platforms) do not. Yet the licensed minority captures roughly 73% of what Blask estimates to be a $5.7 billion market, the highest domestic share of any fully regulated U.S. state. The ratio is […]
Four years after launching both online casino and sports betting simultaneously, Michigan has achieved the highest domestic brand's Competitive Earning Baseline (CEB) of any regulated U.S. state, with licensed operators capturing approximately 75% of the state's estimated $4.9 billion online gambling market.
California and Texas, the two most populous states in the United States, together represent an estimated $9.7 billion in online gambling activity — all of it flowing to offshore, unlicensed operators and none of it generating state tax revenue or consumer protection.
Despite years of state-by-state legalization and record revenues from licensed operators, approximately two-thirds of American online gambling spending flowed to offshore, unlicensed platforms in 2025, according to new research from Blask that quantifies, the full scope of both the regulated and unregulated U.S. gambling market.
Blask has released a new North America report: “USA and Canada iGaming Landscape 2025: The Offshore Reality”. It’s a data-driven view of a simple but critical question: where does online gambling value actually flow in North America — into licensed operators, or offshore — and how does that change state by state? What’s inside the […]
In every ranking that matters for online gambling, California sits at the top. By Blask Index — the measure of aggregated player demand across all operators in a market — the state outpaced every other in the country through 2025. California has no regulated online gambling market. Not a single licensed domestic operator takes a wager there.
Blask is heading to NEXT Summit New York, where Ilya Batcherikov (CPO) and Jeffrey Haas (Chairman) will present key findings from our upcoming report: “USA and Canada iGaming Landscape 2025: The Offshore Reality”. The report examines market scale, offshore vs domestic dynamics, and state-level competitive shifts across North America, with a strong focus on the […]
