New State Launches and Legislative Movements
As of May 2, 2025, the US sports betting industry continues its upward trajectory with notable regulatory developments and market expansions taking center stage. Most prominently, North Carolina has confirmed that its long-awaited mobile sports betting launch, which debuted in March 2025, has exceeded early expectations. According to preliminary figures from state regulators, North Carolina’s mobile handle surpassed $350 million in its first month, buoyed by strong March Madness activity and pent-up consumer demand.
Elsewhere, legislative discussions are intensifying in Georgia and Missouri, where bills aimed at legalizing sports betting have gained renewed momentum during the 2025 legislative sessions. Georgia lawmakers are optimistic about a November 2025 ballot initiative, while Missouri stakeholders anticipate potential passage of a compromise bill later this year.
Operator Performance and Strategic Shifts
Several major operators reported positive Q1 2025 results, reflecting both increased user acquisition and strong hold percentages across key markets. FanDuel, DraftKings, and BetMGM continue to dominate the national landscape, with each reporting double-digit growth in monthly active users (MAUs) and parlay bet volumes — a consistent driver of higher margins.
Meanwhile, ESPN Bet, which launched nationwide in late 2023, continues its market share push, leveraging deep integration with ESPN’s media assets. Industry analysts note that while ESPN Bet is gaining ground in states like Iowa and Indiana, long-term sustainability will hinge on retention strategies and cross-platform engagement.
Regulatory Focus on Responsible Gambling and Integrity
Regulators across multiple states, including New Jersey, Ohio, and Massachusetts, have sharpened their focus on responsible gambling initiatives. Enhanced advertising restrictions, voluntary self-exclusion tools, and mandatory operator education campaigns have been rolled out to mitigate risks tied to increased wagering activity.
At the federal level, discussions around uniform advertising standards and integrity monitoring are gaining traction, particularly as cross-border data sharing and eSports betting regulation emerge as complex regulatory frontiers.
Outlook: Cautious Optimism with Eyes on Expansion
The US sports betting industry enters mid-2025 with 27 states offering legal mobile wagering, and analysts predict that up to 5 more states could come online within the next 18 months. Despite macroeconomic headwinds and regulatory scrutiny, the sector’s robust consumer appetite, innovative product offerings, and ongoing legislative activity point to sustained momentum.
Market participants will continue monitoring state-level negotiations, operator consolidation trends, and emerging verticals such as in-play betting and micro-markets, which are expected to fuel the next phase of growth.
