NORTH AMERICA
The big reset:
Has the US gold rush dried up for affiliates?
With Google cracking down on parasite SEO, regulatory pressure mounting and listed affiliates pulling back, is the US iGaming market still the goldmine it was once thought to be? Joyce Yang speaks to iGaming veterans about the challenges that lie ahead
The year 2025 continues to be an eventful one for the gambling industry in the US. In a country where 57 million people gamble actively, opportunities for affiliates remain enticing – the sports betting gross win alone is expected to reach $ 23.2 billion by 2030, according to figures from H2 Gambling Capital.
Yet, the challenges are just as immense. Last year saw XLMedia exit the US market, selling its North American assets to Sportradar for $ 30 million. Meanwhile, other listed affiliates including Better Collective and Catena Media announced sweeping layoffs. For the first time since the federal ban on sports betting was lifted, no new jurisdiction expanded gambling in any form. In some states like Utah, legalisation seems permanently off the table. While sweepstakes remain popular, the sector faces mounting pressure from lawmakers, with stricter regulations likely looming for the remainder of 2025 and beyond.
“ The US is a big country; even in just Michigan there are 12 million people and three big sports teams, so it’ s a nice market to target,” says Simon Pilkington, owner of Best Betting Media and the ex-CEO of KaFe Rocks Group.“ But my honest answer now is, I don’ t think I’ ve ever seen a tougher market to work on in my 17 years of iGaming experience.”
Alex Windsor, CMO at GameTime Digital, shares Pilkington’ s concerns, noting that competition has ramped up significantly since he entered the market in 2019.
“ The US was seen as a goldmine, but it hasn’ t really turned out that way. There are quite a few companies that have sold all of their US assets and moved out, so it’ s interesting to see where the industry is going from here. The gold rush has certainly slowed.”
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