Offshore Brands Dominate the iGaming Market in the US: Data from the Blask x NEXT Report

At the NEXT Summit: New York 2025, Blask presented a detailed report on the current state of the iGaming market in the US.

This report confirms that offshore brands continue to lead the market, attracting twice as many players as local operators, especially in unregulated states.

Key Findings from the Blask Report

Blask conducted a comprehensive analysis of the iGaming market using data collected through AI-based analytics.

It turns out that in unregulated states, offshore brands perform much better than local ones. Here are some key findings:

• California — the largest unregulated market, where the average Competitive Earning Baseline (CEB) reached $8.5 billion.
• Texas and Florida also show high potential with figures of $5.3 billion and $4.9 billion, respectively.
• Mississippi, Oklahoma, and Indiana showed the best results compared to the previous year (+65% YoY).
• In Pennsylvania and New Jersey, local brands like FanDuel, DraftKings, and BetMGM continue to dominate with a combined CEB of $2.5 billion.

Offshore Brands Leadership

Among offshore brands, Bovada continues to lead with a total CEB figure of $13 billion across the US. In California, Texas, and Florida, Bovada holds significant market shares:

Other key offshore brands, such as BetOnline, BetUS, and Ignition Casino, also continue to strengthen their positions in unregulated and mixed states.

Comparison of Regulated and Unregulated Markets

One interesting aspect of the report is the difference in results between regulated and unregulated states. In unregulated states, the Blask index reached 60.6 million, which is twice as much as in regulated states, which have an index of 28.9 million. This highlights the high popularity of offshore brands in areas where iGaming is not strictly regulated.

Forecast for the US iGaming Market

According to the report, the US iGaming market will continue to expand, with a projected increase in interest in offshore brands. This is particularly important for operators and regulators who must adapt their strategies based on local legislation.

Offshore brands have a significant advantage in unregulated markets, and their successful presence in states like California, Texas, and Florida continues to gain momentum.

Meanwhile, in regulated markets like Pennsylvania and New Jersey, local operators such as FanDuel, DraftKings, and BetMGM show stable results.

Conclusion

The Blask x NEXT report is a unique study that helps to understand the current trends in the US iGaming market. Despite increasing competition, offshore brands continue to confidently hold leading positions, especially in unregulated states where they receive maximum interest from players.