- Offshore sportsbooks control roughly two-thirds of the US sports betting market volume based on a metric named Competitive Earning Baseline (CEB).
- States with online sports betting and iGaming trend towards domestic operators, but players in betting states without online casino regulation rely on offshore with a 74% average.
- California and Texas account for nearly $10 billion in collective CEB, all at offshore gambling sites.
LOS ANGELES – A recent data report showed that the US betting market relies on internationally-licensed sportsbooks and casinos more than domestically-licensed betting sites in the US. Despite many states launching legal sports betting in the last few years, about 66% of the total betting market volume in the US goes to offshore brands.
Based on Competitive Earning Baseline (CEB), which is simply the projected brand revenue based on market presence, operators licensed and regulated internationally control the betting market in the US. The offshore CEB grows just 3% year-over-year compared to almost 21% for domestic brands like DraftKings and FanDuel.
Data collected by Blask show that United States boasts the largest online gambling market in the world valued at nearly $80 billion in estimated CEB for 2025. That’s more than seven times greater than the second-largest market, the United Kingdom, at $11.76 billion estimated CEB.
To put that number in perspective, Texas and California combine for nearly $10 billion in estimated CEB. Both of those states are unregulated, leaving the entirety of their CEB to offshore sportsbooks and casinos.
States Without Online Casino Regulation Rely On Offshore Sportsbooks
In the 24 states with legal sports betting that don’t have iGaming regulation, internationally-regulated betting sites control 74% of the market. Maryland and Arizona are the only regulated betting-only states with a domestic CEB greater than 40%.
States with more recent sports betting regulation have the highest offshore CEB% of the bunch, which can be seen in Missouri where offshore betting sites retain 96% of the market.
On the other hand, six of the seven fully-regulated states with both online sports betting and online casinos have a higher domestic market share than offshore. The lone state with a higher offshore CEB% is Rhode Island, who is the youngest fully regulated market of the bunch.
Three of the top five brands that accept U.S. players are located offshore, led by Bovada Sportsbook with $9.23 billion in estimated CEB. FanDuel (7.46 CEB) and DraftKings ($6.92 CEB) are the top domestic brands, but internationally-licensed operators BetOnline and MyBookie round out the top five.
