According to the 2024 US iGaming Market Report of Blask, Bovada has reaffirmed its position as the dominant offshore iGaming brand in the United States. NEXT Summit: New York 2025 unveiled this.
The latest data confirms that Bovada generated an average Competitive Earning Baseline (CEB) of $13 billion.
The state-level segmentation of Blask reveals the strong foothold of Bovada in key unregulated states, where offshore brands keep on outpacing onshore ones.
Bovada holds 38% of the market in California, 39% in Texas, and 24.1% in Florida. This makes it the most recognized offshore brand in the country.
In California, the largest unregulated iGaming state, Bovada gives significantly to the CEB of the state of $8.5 billion. With Bovada securing the highest engagement levels among offshore brands, Texas and Florida follow closely.
Providing a clearer breakdown of market structures in the USA, Blask has introduced offshore/onshore segmentation of brands. Ensuring that CEB or Competitive Earning Baseline calculations reflect the true economic impact of both segments.
CEB incorporates financial data from regulatory reports and brand disclosures for onshore brands in regulated states. This offers a direct insight into their economic footprint.
Analysts evaluate offshore brands like Bovada using search trends, engagement metrics, and an adjusted ARPU model. This approach is refined to align with local market performance benchmarks.
Enhancing the ability of regulators and stakeholders to assess the growing influence of unregulated market, Blask is now able to accurately track revenue trends and competitive positioning with this methodology.
