How the Americas Will Dominate iGaming by 2028

The Numbers Behind the Surge

Let’s start with the scale of what’s happening. In 2022, the regulated online gambling market across the Americas was worth US$15.6 billion. By 2026, industry forecasts suggest that figure will reach US$32.5 billion. That’s more than doubling in just four years.

Compare that to Europe. The European regulated online gambling market was worth just under €30 billion in 2022 and is projected to reach €37.3 billion in 2026. That’s meaningful growth — but it’s roughly half the pace of the Americas.

By 2028, the two regions are expected to be neck and neck. Currency fluctuations could tip the balance either way, but the trajectory is clear. The Americas are closing the gap fast — and the momentum shows no signs of slowing.

Prior to 2018, the regulated online gambling market was highly Eurocentric. But legalization of sports betting and iGaming in various U.S. states, as well as the major markets of Ontario and Brazil, has coincided with stricter regulations in European countries that have restricted growth in a number of cases

Why Is the Americas Market Growing So Fast?

This isn’t an accident. It’s the result of a deliberate wave of legalization, regulatory maturity, and massive untapped demand finally finding a legal outlet. Several forces are converging at once.

First, the U.S. Supreme Court’s 2018 ruling that struck down the federal ban on sports betting in the US opened the floodgates. Since then, state after state has moved to legalize sports wagering and, increasingly, online casino gaming. Each new state that goes live adds a fresh pool of regulated revenue.

Second, Canada’s Ontario market launched a competitive iGaming framework in April 2022. Ontario alone — with a population of 15 million — has become one of the most closely watched regulated markets in the world, attracting dozens of major international operators.

Third, and perhaps most significantly, Brazil has opened its doors. Latin America’s largest economy legalized sports betting and iGaming, unleashing one of the most anticipated market launches in industry history. With over 200 million people and an intensely passionate sports culture, Brazil’s potential is enormous.

Meanwhile, Europe has been moving in the opposite direction. Stricter advertising rules, affordability checks, deposit limits, and tighter licensing conditions in markets like the UK, Germany, and the Netherlands have put a ceiling on growth. What Europe gains in regulatory maturity, it loses in market expansion.

The Key Markets Driving Americas Growth

The United States

The U.S. is the engine of Americas iGaming growth. iGaming in the United States is now legal for sports betting in the majority of states, and online casino gaming — though available in fewer states — is generating billions in gross gaming revenue annually. New Jersey, Pennsylvania, Michigan, and Connecticut have established track records. More states are actively considering legislation.

The U.S. market is unique in its complexity. Each state is effectively its own jurisdiction, with its own licensing regime, tax structure, and permitted game types. Navigating it requires significant investment — but the rewards for operators who get it right are enormous.

Brazil

Brazil is the wildcard that could change everything. The country formally opened its regulated sports betting and iGaming market, and the licensing rush has been extraordinary. Dozens of operators are competing for position in a market that analysts believe could become one of the top five iGaming markets globally within a decade.

Industry analyst James Kilsby is speaking at SBC Summit Americas 2026 on a panel titled “Brazil 2025: A Surge in Licensing and Lessons So Far” — a sign of just how central Brazil has become to the global industry conversation.

Canada (Ontario)

Ontario’s regulated iGaming market has matured quickly since its 2022 launch. The province’s open, competitive model — where multiple private operators can hold licenses — has been held up as a template for responsible market design. Revenue figures have consistently exceeded early projections, and the model is influencing regulatory thinking across North America.

The Rest of Latin America

Beyond Brazil, Colombia has been a regulated online gambling market since 2016 and continues to grow steadily. Mexico, Argentina, Chile, and Peru are all at various stages of regulatory development. As more Latin American countries formalize their frameworks, the region’s collective contribution to Americas GGR will become increasingly significant.

Why Europe Is Losing Ground

Europe’s iGaming market isn’t shrinking — it’s still growing. But it’s growing slowly, and in some markets, heavy-handed regulation is actively suppressing revenue that would otherwise be captured in the regulated sector.

Germany’s State Treaty on Gambling introduced strict rules that frustrated operators and pushed players toward unlicensed alternatives. The Netherlands relaunched its regulated market in 2021 but has faced persistent challenges with unlicensed competition. Even the UK — the world’s most mature iGaming market — has been undergoing a multi-year review that has introduced significant uncertainty.

EUROPEAN HEADWINDS AT A GLANCE

1. UK Gambling Act review introducing affordability checks and stake limits
2. Germany’s restrictive State Treaty limiting product range and marketing
3. Netherlands struggling with black market competition post-relaunch
4. Advertising restrictions tightening across Sweden, Spain, and Italy
5. Overall growth rate roughly half that of the Americas

None of this means Europe is irrelevant. It remains the most mature, most heavily regulated, and in many ways most sophisticated iGaming market in the world. But as a growth story, the Americas have decisively taken the lead.

Americas vs. Europe: Market-by-Market Breakdown

To understand the full picture, here is a detailed comparison of the key regions shaping the global iGaming landscape heading into 2028.

The pattern is unmistakable. Americas markets are in expansion mode — opening, regulating, and capturing previously unregulated demand. European markets are largely in consolidation mode — tightening rules and managing the tension between player protection and market competitiveness.

Conclusion: A Tectonic Shift in Global iGaming

The Americas overtaking Europe in regulated online gambling GGR by 2028 isn’t a prediction anymore. It’s a forecast backed by hard data, a clear regulatory trend, and momentum that shows no sign of reversing.

The U.S. is still unlocking. Each new state that legalizes sports betting or online casino gaming adds hundreds of millions in regulated revenue. The biggest prize — a fully legalized national iGaming market — remains on the horizon.

Brazil is a once-in-a-generation market opening. The scale, the passion, and the regulatory ambition are all there. How well operators and regulators execute in the coming years will determine how quickly Brazil fulfills its enormous potential.

Europe isn’t finished — but its growth ceiling is lower than it was. The regulatory tightening that has swept across the continent has prioritized consumer protection over market expansion. That’s a defensible policy choice, but it comes at a cost to growth.

Here at Casinoble, we see this shift as one of the defining stories of the decade in online gambling. We’ll be tracking every market opening, every licensing surge, and every regulatory development so you stay ahead of the curve. The Americas have arrived — and the global iGaming map will never look the same again.