Sports betting revenue has ballooned in the US since the federal ban on sports betting ended in 2018. Each state has carved its own path to legalized sportsbooks for citizens, with unique approaches across the nation. Revenues from betting have started rolling in for legal states while those still waiting to get legislation passed can only look at sports betting revenue predictions.
To keep you up-to-date with the state-by-state sports betting rules, revenues, and state income, here at Business2Community we’ve pulled together all the information you need to know.
Overview of US States Betting Revenue
- Gambling Operators generated $27 billion in revenue since USA’s partial legalization in June 2018
- Gambling Operators increased revenues by +46% in 2023 ($11bn 2023 vs $7.5bn 2022)
- US States collectively gained $4.9 billion in tax revenue through the Sports Betting industry, since June 2018
- US States collectively increased tax revenues by +42% in 2023 ($2.1bn 2023 vs $1.5bn 2022)
- January is the most popular month for Americans to place bets. $3.4bn collectively wagered in the month of January since 2018.
- Hold percentages wildly fluctuated, such as South Dakota sportsbooks ranging from -2.2% to 29.7%.
Definitions
- Handles = Total amount wagered over a given period of time
- Revenue = Net profit for Sportsbooks / Operators
- Hold % = Percentage of total bets retained as profits by the Sportsbooks / Operators
- Taxes = Revenue for each US State
US Sports Betting Revenue by State – Legal States in 2024
Learn about the legal state’s betting revenue by taping the + sign below:
Arizona Sports Betting
Since launching in September 2021, Arizona’s sports betting market has seen impressive growth in a promising market.
Arizona Sports Betting Revenue – Highlights
- Handle started at just over $291 million for September 2021, but grew to over $644 million by March 2023.
- Revenue fluctuates with the NFL season in the Grand Canyon State, with three of the four highest revenue months coming during the NFL calendar.
- Despite a steady hold percentage, some months had big variations. June 2022 saw a much lower hold of just 4% compared to other months, which could be because of major sports results going for the bettor rather than the operators.
- Arizona has seen tax revenue grow consistently, matching the increased handle and revenue. The largest tax contribution was over $4.8 million in December 2024.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2021 | $291,212,868 | $32,308,342 | 11.10% | $31,393 |
| October 2021 | $486,097,352 | $37,510,371 | 7.70% | $1,022,841 |
| November 2021 | $466,725,687 | $51,416,143 | 11.00% | $3,177,148 |
| December 2021 | $499,213,733 | $39,822,928 | 8.00% | $1,723,902 |
| January 2022 | $563,694,591 | $41,890,200 | 7.40% | $1,952,971 |
| February 2022 | $491,665,554 | $25,629,835 | 5.20% | $670,686 |
| March 2022 | $690,979,294 | $38,898,393 | 5.60% | $1,864,457 |
| April 2022 | $512,877,848 | $30,441,992 | 5.90% | $1,647,450 |
| May 2022 | $461,450,688 | $56,193,286 | 12.20% | $4,125,125 |
| June 2022 | $318,774,198 | $12,601,356 | 4.00% | $766,831 |
| July 2022 | $290,511,533 | $22,684,581 | 7.80% | $1,496,427 |
| August 2022 | $361,008,835 | $37,161,759 | 10.30% | $2,767,590 |
| September 2022 | $537,966,149 | $56,428,816 | 10.50% | $3,058,838 |
| October 2022 | $618,570,296 | $49,392,417 | 8.00% | $2,963,716 |
| November 2022 | $616,855,045 | $56,028,195 | 9.10% | $3,876,208 |
| December 2022 | $572,490,899 | $55,581,725 | 9.70% | $3,724,395 |
| January 2023 | $591,220,794 | $47,486,817 | 8.00% | $2,886,502 |
| February 2023 | $609,278,096 | $35,412,452 | 5.80% | $1,609,581 |
| March 2023 | $644,763,991 | $53,523,947 | 8.30% | $3,704,268 |
| April 2023 | $535,712,027 | $49,163,323 | 9.20% | $3,429,846 |
| May 2023 | $451,717,025 | $49,458,507 | 10.90% | $3,376,059 |
| June 2023 | $393,198,858 | $28,331,608 | 7.20% | $1,633,356 |
| July 2023 | $323,211,485 | $35,343,495 | 10.90% | $2,678,598 |
| August 2023 | $358,875,474 | $31,681,151 | 8.80% | $2,128,096 |
| September 2023 | $610,716,285 | $60,115,066 | 9.80% | $3,243,222 |
| October 2023 | $648,208,573 | $56,868,981 | 8.80% | $3,287,799 |
| November 2023 | $713,586,704 | $42,333,282 | 5.9% | $2,023,887 |
| December 2023 | $693,310,960 | $67,697,686 | 9.8% | $4,817,325 |
| January 2024 | $706,382,861 | $70,943,718 | 10.0% | $4,610,005 |
| February 2024 | $637,485,879 | $54,329,589 | 8.5% | $2,788,885 |
| Total | $15,697,763,582 | $1,326,679,961 | 8.51% | $77,087,407 |
Arkansas Sports Betting
Arkansas has shown steady and consistent growth despite it not being one of the larger markets when it comes to sports betting.
Arkansas Sports Betting Revenue – Highlights
- Since July 2019, Arkansas has a total handle of $509 million and total revenue of $50.8 million.
- In the first three quarters of 2023, Arkansas operators paid $2.9 million in taxes, over $1 million more than 2019 and 2020 combined.
- As a rapidly growing market, Arkansas posted a handle around 3x greater over the first 8 months of 2023 than in the same period in 2022. Tax intake by the state also more than doubled between 2022 and 2023, with over $5.3 million going to the Little Rock state house in the last full calendar year. With tax income for the year up to April 2024 at $2.3 million already, it looks to be another record-breaking year.
- In November 2023, Arkansas operators reported a handle of over $54 million, their largest to date.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| July 2019 | $416,160 | $76,885 | 18.50% | $9,995 |
| August 2019 | $778,249 | $58,858 | 7.60% | $7,652 |
| September 2019 | $2,252,196 | $183,044 | 8.10% | $23,796 |
| October 2019 | $2,216,369 | $380,006 | 17.10% | $49,401 |
| November 2019 | $2,978,235 | $181,497 | 6.10% | $23,595 |
| December 2019 | $2,633,806 | $455,368 | 17.30% | $59,198 |
| January 2020 | $2,587,732 | $254,811 | 9.80% | $33,263 |
| February 2020 | $4,294,366 | $411,589 | 9.60% | $67,494 |
| March 2020 | $1,588,403 | $222,373 | 14.00% | $38,310 |
| April 2020 | $0 | $0 | NaN | $0 |
| May 2020 | $509 | -$115 | -22.60% | -$15 |
| June 2020 | $1,189 | $10 | 0.80% | $1 |
| July 2020 | $179,315 | -$19,633 | -10.90% | -$2,552 |
| August 2020 | $1,008,992 | $69,625 | 6.90% | $9,051 |
| September 2020 | $3,958,748 | $397,095 | 10.00% | $51,622 |
| October 2020 | $6,559,859 | $940,513 | 14.30% | $122,267 |
| November 2020 | $6,288,249 | $975,984 | 15.50% | $126,878 |
| December 2020 | $6,415,446 | $1,054,273 | 16.40% | $137,055 |
| January 2021 | $7,187,194 | $1,383,240 | 19.20% | $180,474 |
| February 2021 | $4,469,442 | $651,239 | 14.60% | $92,922 |
| March 2021 | $5,947,427 | $805,182 | 13.50% | $130,877 |
| April 2021 | $4,065,703 | $756,328 | 18.60% | $131,137 |
| May 2021 | $3,687,207 | $506,142 | 13.70% | $81,710 |
| June 2021 | $3,895,683 | $382,940 | 9.80% | $59,088 |
| July 2021 | $2,908,833 | $449,040 | 15.40% | $58,375 |
| August 2021 | $2,892,285 | $310,481 | 10.70% | $40,363 |
| September 2021 | $7,007,774 | $809,404 | 11.60% | $105,223 |
| October 2021 | $9,506,183 | $803,567 | 8.50% | $104,464 |
| November 2021 | $8,380,191 | $1,623,434 | 19.40% | $211,047 |
| December 2021 | $7,794,292 | $130,305 | 1.70% | $6,188 |
| January 2022 | $8,775,932 | $1,181,335 | 13.50% | $153,574 |
| February 2022 | $5,876,444 | $359,103 | 6.10% | $61,390 |
| March 2022 | $10,686,501 | $791,867 | 7.40% | $119,671 |
| April 2022 | $8,598,226 | $749,810 | 8.70% | $120,297 |
| May 2022 | $10,185,647 | $615,576 | 6.00% | $117,426 |
| June 2022 | $12,632,207 | $4,045 | 0.00% | $12,598 |
| July 2022 | $9,290,467 | $854,436 | 9.20% | $111,077 |
| August 2022 | $10,195,911 | $1,015,339 | 10.00% | $131,994 |
| September 2022 | $21,185,547 | $3,208,032 | 15.10% | $417,044 |
| October 2022 | $26,879,107 | $2,793,719 | 10.40% | $363,183 |
| November 2022 | $30,576,009 | $2,999,450 | 9.80% | $452,393 |
| December 2022 | $30,936,485 | $3,409,972 | 11.00% | $449,690 |
| January 2023 | $32,976,264 | $2,868,244 | 8.70% | $439,379 |
| February 2023 | $29,532,263 | $1,709,714 | 5.80% | $254,925 |
| March 2023 | $37,474,412 | $4,264,047 | 11.40% | $626,042 |
| April 2023 | $25,452,659 | $2,336,023 | 9.20% | $349,633 |
| May 2023 | $22,777,209 | $2,293,281 | 10.10% | $458,656 |
| June 2023 | $22,708,945 | $1,334,973 | 5.90% | $266,995 |
| July 2023 | $17,577,626 | $2,077,422 | 11.80% | $270,065 |
| August 2023 | $22,553,214 | $1,673,538 | 7.40% | $217,560 |
| September 2023 | $41,002,257 | $3,992,930 | 9.70% | $519,081 |
| October 2023 | $44,986,803 | $5,825,161 | 12.90% | $757,271 |
| November 2023 | $54,770,449 | $3,018,845 | 5.50% | $392,450 |
| December 2023 | $52,952,226 | $5,762,757 | 10.90% | $783,089 |
| January 2024 | $50,698,701 | $5,855,921 | 11.6% | $894,654 |
| February 2024 | $40,947,811 | $2,672,209 | 6.5% | $413,682 |
| March 2024 | $50,031,696 | $3,406,749 | 6.8% | $510,490 |
| April 2024 | $41,763,742 | $3,788,712 | 9.1% | $568,356 |
| Total | $885,924,797 | $85,116,695 | 9.57% | $12,191,544 |
Colorado Sports Betting
Sports betting in Colorado has shown a lot of room for growth. Since legalization in 2019, there has been a consistent betting base, along with large tax income in the state.
Colorado Sports Betting Revenue – Highlights
- The betting handle in Colorado is around $18 billion, with a total revenue of over $1.2 billion.
- Sportsbooks tend to give more player-friendly odds, leading to an average hold percentage of about 6.9% compared to a national average of 8.2%. The hold percentage is the amount providers keep after paying out on a winning bet.
- The handle for the state was $500 million in four consecutive months from October 2022 to January 2023. This is probably because the NFL, NBA, and FIFA World Cup were running simultaneously during those months. It hasn’t dropped below the half-a-billion mark again since October 2023.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| May 2020 | $25,621,762 | $2,565,729 | 10.00% | $96,538 |
| June 2020 | $38,136,949 | $3,484,015 | 9.10% | $217,945 |
| July 2020 | $59,183,620 | $5,196,599 | 8.80% | $241,731 |
| August 2020 | $128,646,209 | $7,519,599 | 5.80% | $189,326 |
| September 2020 | $207,655,943 | $4,166,334 | 2.00% | $69,772 |
| October 2020 | $210,719,821 | $17,402,409 | 8.30% | $824,700 |
| November 2020 | $231,238,842 | $18,354,655 | 7.90% | $793,820 |
| December 2020 | $284,551,472 | $17,151,867 | 6.00% | $531,490 |
| January 2021 | $326,903,462 | $23,144,535 | 7.10% | $1,195,774 |
| February 2021 | $266,549,207 | $10,444,810 | 3.90% | $332,227 |
| March 2021 | $300,990,842 | $20,365,119 | 6.80% | $1,060,854 |
| April 2021 | $244,446,760 | $17,563,939 | 7.20% | $1,082,611 |
| May 2021 | $248,968,193 | $15,129,108 | 6.10% | $633,896 |
| June 2021 | $229,764,688 | $19,730,957 | 8.60% | $1,186,455 |
| July 2021 | $181,327,995 | $15,652,461 | 8.60% | $999,111 |
| August 2021 | $211,918,185 | $15,228,343 | 7.20% | $728,518 |
| September 2021 | $408,314,625 | $22,658,630 | 5.50% | $483,048 |
| October 2021 | $491,453,342 | $28,616,708 | 5.80% | $1,246,804 |
| November 2021 | $475,441,229 | $36,781,848 | 7.70% | $1,981,640 |
| December 2021 | $461,448,574 | $24,732,487 | 5.40% | $770,561 |
| January 2022 | $573,720,213 | $34,640,219 | 6.00% | $1,447,952 |
| February 2022 | $440,508,421 | $19,604,490 | 4.50% | $314,731 |
| March 2022 | $505,611,080 | $28,238,194 | 5.60% | $1,313,076 |
| April 2022 | $392,311,737 | $22,571,887 | 5.80% | $1,231,742 |
| May 2022 | $360,325,438 | $27,119,329 | 7.50% | $1,659,189 |
| June 2022 | $313,215,081 | $6,781,092 | 2.20% | $268,280 |
| July 2022 | $258,414,808 | $20,802,881 | 8.10% | $1,092,182 |
| August 2022 | $290,107,970 | $25,859,270 | 8.90% | $1,822,272 |
| September 2022 | $450,232,597 | $51,339,659 | 11.40% | $2,989,342 |
| October 2022 | $526,619,777 | $36,514,974 | 6.90% | $2,330,705 |
| November 2022 | $552,603,013 | $37,569,022 | 6.80% | $2,581,533 |
| December 2022 | $518,088,768 | $40,909,238 | 7.90% | $2,583,711 |
| January 2023 | $547,189,025 | $35,482,562 | 6.50% | $2,586,457 |
| February 2023 | $425,142,877 | $22,599,602 | 5.30% | $1,257,332 |
| March 2023 | $494,440,210 | $45,935,669 | 9.30% | $3,103,024 |
| April 2023 | $417,814,147 | $35,148,592 | 8.40% | $2,582,615 |
| May 2023 | $385,242,136 | $31,406,903 | 8.20% | $2,218,084 |
| June 2023 | $310,656,478 | $9,223,661 | 3.00% | $441,951 |
| July 2023 | $281,110,490 | $24,962,106 | 8.90% | $1,778,773 |
| August 2023 | $306,065,791 | $25,873,058 | 8.50% | $1,806,025 |
| September 2023 | $512,792,794 | $45,276,517 | 8.80% | $3,126,136 |
| October 2023 | $554,859,801 | $46,914,492 | 8.50% | $3,351,482 |
| November 2023 | $608,488,266 | $28,585,606 | 4.70% | $1,489,224 |
| December 2023 | $716,430,270 | $40,537,499 | 5.70% | $3,682,335 |
| January 2024 | $596,685,968 | $53,490,323 | 9% | $4,128,369 |
| February 2024 | $536,988,261 | $25,762,378 | 4.8%% | $1,302,174 |
| March 2024 | $593,094,977 | $45,041,776 | 7.6% | $2,852,592 |
| April 2024 | $509,508,228 | $32,028,036 | 6.3% | $1,910,656 |
| Total | $18,011,550,342 | $1,226,109,187 | 6.94% | $46,490,999 |
Connecticut Sports Betting
The sports betting market in Connecticut has fluctuated to match legal developments in the state. The data also shows an ability to adapt, with providers introducing promotion strategies and betting behaviors changing in response.
Connecticut Sports Betting Revenue – Highlights
- There has been a big fluctuation in hold percentage since betting opened up in late 2021 compared to 2023 and early 2024 numbers. A large part of this is due to the difference in bonuses and sign-up offers for a young market compared to a more established one.
- The handle jump between October 2021 and November 2021 from $54 million to over $131 million is likely due to excitement at sports betting legalization.
- Comparing October 2021 to October 2023 shows the impact legislation has on the market, but also that the market grew and matured significantly. This is shown by the trebling of handle from $54 million to over $164 million.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| October 2021 | $54,641,474 | $5,567,547 | 10.20% | $512,951 |
| November 2021 | $131,729,179 | $17,456,823 | 13.30% | $1,712,136 |
| December 2021 | $150,073,755 | $10,242,899 | 6.80% | $929,336 |
| January 2022 | $158,092,481 | $11,891,808 | 7.50% | $1,142,510 |
| February 2022 | $115,619,953 | $5,844,220 | 5.10% | $501,516 |
| March 2022 | $140,747,137 | $11,511,388 | 8.20% | $1,037,570 |
| April 2022 | $116,465,199 | $10,353,842 | 8.90% | $988,263 |
| May 2022 | $115,180,155 | $10,308,064 | 8.90% | $981,304 |
| June 2022 | $95,421,852 | $7,142,610 | 7.50% | $669,453 |
| July 2022 | $78,316,775 | $8,611,816 | 11.00% | $859,094 |
| August 2022 | $80,037,045 | $10,882,317 | 13.60% | $1,153,125 |
| September 2022 | $130,547,719 | $17,608,762 | 13.50% | $1,777,391 |
| October 2022 | $164,170,106 | $17,012,667 | 10.40% | $1,736,473 |
| November 2022 | $165,026,282 | $17,869,847 | 10.80% | $1,942,387 |
| December 2022 | $160,266,050 | $16,268,906 | 10.20% | $1,736,006 |
| January 2023 | $167,673,044 | $19,610,098 | 11.70% | $1,919,290 |
| February 2023 | $136,508,300 | $11,626,147 | 8.50% | $1,175,694 |
| March 2023 | $159,997,579 | $17,029,646 | 10.60% | $1,855,821 |
| April 2023 | $126,683,869 | $13,610,074 | 10.70% | $1,458,730 |
| May 2023 | $109,421,369 | $15,271,178 | 14.00% | $1,645,394 |
| June 2023 | $91,414,677 | $9,752,058 | 10.70% | $961,577 |
| July 2023 | $91,512,897 | $11,126,316 | 12.20% | $1,215,313 |
| August 2023 | $91,316,807 | $9,797,155 | 10.70% | $1,027,171 |
| September 2023 | $180,954,956 | $18,900,892 | 10.40% | $2,048,710 |
| October 2023 | $189,626,160 | $19,849,187 | 10.50% | $2,243,142 |
| November 2023 | $205,736,989 | $12,862,839 | 6.30% | $1,416,233 |
| December 2023 | $212,171,045 | $22,813,764 | 10.80% | $2,569,806 |
| January 2024 | $202,752,249 | $25,570,170 | 12.6% | $2,864,562 |
| February 2024 | $162,841,632 | $14,820,348 | 9.1% | $1,598,679 |
| March 2024 | $187,815,980 | $16,981,438 | 9% | $1,892,701 |
| April 2024 | $154,109,876 | $19,105,482 | 12.4% | $2,133,325 |
| May 2024 | $163,648,829 | $17,941,322 | 11% | $1,973,947 |
| Total | $4,490,521,420 | $455,241,630 | 10.22% | $47,679,610 |
Delaware Sports Betting
Sports betting has become increasingly popular since it was legalized in Delaware. There have been more than $685 million worth of bets placed, with over $124 million in revenue for companies as a result. The hold for casinos has been impressive, with its 15.81% average being higher than the national average.
Delaware Sports Betting Revenue – Highlights
- Despite its success, the hold rate has seen drastic swings. November 2021 saw a 46.50% hold rate compared to -7.70% in December 2021, for example. Even as the market has matured, October 2023 saw a hold of 25.4% and it was as low as 4.8% in January 2024.
- One of the reasons for the wild swings in hold rate across winter months is betting on the NFL. February has posted multiple negative hold rates, possibly due to betting on the Super Bowl, for example.
- Drops in revenue might be similarly based around football, with more generous welcome offers for the Super Bowl draining profits due to large rewards.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| June 2018 | $7,003,725 | $1,000,247 | 14.30% | $522,962 |
| July 2018 | $8,214,765 | $527,115 | 6.40% | $275,671 |
| August 2018 | $8,018,354 | $983,052 | 12.30% | $538,543 |
| September 2018 | $23,257,965 | $7,807,511 | 33.60% | $4,703,849 |
| October 2018 | $21,231,427 | $2,565,957 | 12.10% | $1,460,148 |
| November 2018 | $24,206,090 | $2,505,848 | 10.40% | $1,155,765 |
| December 2018 | $23,419,539 | $5,810,007 | 24.80% | $3,407,848 |
| January 2019 | $14,130,069 | $2,687,370 | 19.00% | $1,516,520 |
| February 2019 | $8,709,205 | -$616,941 | -7.10% | -$483,414 |
| March 2019 | $10,483,128 | $1,879,045 | 17.90% | $982,447 |
| April 2019 | $6,088,183 | $703,739 | 11.60% | $367,524 |
| May 2019 | $5,920,766 | $464,335 | 7.80% | $242,081 |
| June 2019 | $6,325,464 | $533,377 | 8.40% | $278,491 |
| July 2019 | $3,920,974 | $579,897 | 14.80% | $303,225 |
| August 2019 | $4,745,747 | $586,057 | 12.30% | $290,170 |
| September 2019 | $18,781,406 | $5,979,895 | 31.80% | $3,558,378 |
| October 2019 | $16,066,023 | $4,640,776 | 28.90% | $2,691,088 |
| November 2019 | $16,850,854 | $4,235,148 | 25.10% | $2,463,260 |
| December 2019 | $20,466,561 | $4,174,862 | 20.40% | $2,324,290 |
| January 2020 | $11,187,011 | $2,527,312 | 22.60% | $1,386,819 |
| February 2020 | $7,279,650 | -$410,665 | -5.60% | -$367,301 |
| March 2020 | $3,877,068 | $653,127 | 16.80% | $340,952 |
| April 2020 | $0 | $0 | NaN | -$104 |
| May 2020 | $0 | $0 | NaN | -$15 |
| June 2020 | $0 | $0 | NaN | -$33 |
| July 2020 | $209,282 | $13,845 | 6.60% | $7,040 |
| August 2020 | $2,957,634 | $419,561 | 14.20% | $220,175 |
| September 2020 | $12,439,302 | $2,803,022 | 22.50% | $1,596,046 |
| October 2020 | $17,086,034 | $4,945,186 | 28.90% | $2,877,725 |
| November 2020 | $19,510,093 | $8,162,861 | 41.80% | $5,018,419 |
| December 2020 | $15,696,681 | $4,408,081 | 28.10% | $2,645,802 |
| January 2021 | $15,649,254 | $3,288,405 | 21.00% | $1,798,838 |
| February 2021 | $7,519,710 | $679,021 | 9.00% | $313,006 |
| March 2021 | $6,666,115 | $1,104,859 | 16.60% | $577,524 |
| April 2021 | $5,470,520 | $1,023,199 | 18.70% | $534,814 |
| May 2021 | $7,060,911 | $775,611 | 11.00% | $404,929 |
| June 2021 | $5,958,137 | $737,984 | 12.40% | $385,357 |
| July 2021 | $4,110,581 | $724,765 | 17.60% | $378,599 |
| August 2021 | $5,251,471 | $541,621 | 10.30% | $269,110 |
| September 2021 | $13,702,755 | $4,420,661 | 32.30% | $2,658,149 |
| October 2021 | $22,238,321 | $4,635,199 | 20.80% | $2,625,850 |
| November 2021 | $13,383,727 | $6,226,325 | 46.50% | $3,843,342 |
| December 2021 | $12,638,955 | -$972,383 | -7.70% | -$1,088,521 |
| January 2022 | $12,637,103 | $2,716,347 | 21.50% | $1,989,974 |
| February 2022 | $5,436,407 | $74,297 | 1.40% | $15,012 |
| March 2022 | $5,157,583 | $631,099 | 12.20% | $331,496 |
| April 2022 | $4,200,298 | $358,171 | 8.50% | $188,322 |
| May 2022 | $5,127,275 | $565,508 | 11.00% | $296,948 |
| June 2022 | $3,507,846 | $242,316 | 6.90% | $127,482 |
| July 2022 | $2,678,686 | $438,069 | 16.40% | $229,305 |
| August 2022 | $2,902,652 | $399,945 | 13.80% | $226,701 |
| September 2022 | $8,908,981 | $2,915,961 | 32.70% | $2,419,632 |
| October 2022 | $13,545,163 | $2,597,717 | 19.20% | $2,084,703 |
| November 2022 | $10,172,819 | $1,622,874 | 16.00% | $1,270,575 |
| December 2022 | $8,157,580 | $1,428,195 | 17.50% | $1,196,569 |
| January 2023 | $8,457,660 | $1,714,167 | 20.30% | $1,441,653 |
| February 2023 | $4,120,957 | $347,890 | 8.40% | $190,355 |
| March 2023 | $3,491,183 | $622,285 | 17.80% | $325,556 |
| April 2023 | $3,450,142 | $757,951 | 22.00% | $239,884 |
| May 2023 | $2,760,829 | $276,116 | 10.00% | $159,433 |
| June 2023 | $3,128,258 | $80,201 | 2.60% | $45,282 |
| July 2023 | $2,256,345 | $311,152 | 13.80% | $203,984 |
| August 2023 | $2,400,532 | $340,209 | 14.20% | $229,649 |
| September 2023 | $7,633,259 | $991,828 | 13.00% | $865,047 |
| October 2023 | $10,663,362 | $2,706,248 | 25.40% | $2,368,232 |
| November 2023 | $8,126,283 | $600,906 | 7.40% | $509,072 |
| December 2023 | $8,837,999 | $2,147,792 | 24.30% | $1,859,356 |
| January 2024 | $17,085,199 | $1,957,473 | 11.5% | $1,306,854 |
| February 2024 | $13,763,241 | $659,017 | 4.8% | $283,002 |
| March 2024 | $18,935,525 | $1,168,825 | 6.2% | $639,169 |
| April 2024 | $15,522,996 | $1,147,601 | 7.4% | $641,491 |
| May 2024 | $15,107,592 | $1,201,087 | 8% | $644,012 |
| Total | $685,907,212 | $124,776,141 | 15.81% | $75,354,118 |
Florida Sports Betting
Florida Sports Betting Revenue – Not Available
Online betting in Florida is currently legal but only using Hard Rock Bet’s mobile app. While there are no revenue figures available online, expert predictions say Florida gaming market could be bringing up to $1.5 billion in the future.
Illinois Sports Betting
Illinois has become a thriving hub for sports betting in the US. The state has shown steady growth with consistent hold, maturing well since May 2020.
Illinois Sports Betting Revenue – Highlights
- The total handle for the state is over $35 billion, showing just how profitable and well-established sports betting has become in Illinois.
- The hold average of 8.07% is fairly typical for the nation and has led to extra tax revenues exceeding $459 million.
- Ther four months between October 2022 to March 2023 each had a handle of over $1 billion, this was likely due to busy seasons in the NFL and NBA, along with March Madness in college basketball.
- Handle hasn’t dropped below $1 billion since October 2023 in Illinois – a sign of steady growth and a long-term increase in the state’s tax base from sports betting.
- The first third of 2024 has already seen a handle increase of 20% from the previous year. Using data from the Illinois Gaming Board, we predict the handle for the year will be upwards of $14 billion.
- Over the same period, tax receipts for the Prairie State have seen a 16.6% increase compared to the same period in 2023. While 2023 saw a year-on-year increase in tax intake of over 24%, if the new progressive tax on sports betting in the state passes into law, it’s anyone’s bet what that will do to the tax income.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| March 2020 | $997,739 | $120,054 | 12.00% | $12,242 |
| April 2020 | $0 | -$592 | 0.00% | $0 |
| May 2020 | $0 | $0 | 0.00% | $0 |
| June 2020 | $8,281,803 | $812,901 | 9.80% | $59,446 |
| July 2020 | $52,524,612 | $4,769,184 | 9.10% | $585,623 |
| August 2020 | $140,065,649 | $7,643,489 | 5.50% | $1,176,754 |
| September 2020 | $305,223,938 | $11,754,530 | 3.90% | $1,107,906 |
| October 2020 | $434,567,103 | $46,967,823 | 10.80% | $6,807,284 |
| November 2020 | $449,239,162 | $36,974,421 | 8.20% | $6,618,259 |
| December 2020 | $491,720,536 | $28,368,846 | 5.80% | $3,823,629 |
| January 2021 | $581,553,300 | $49,365,489 | 8.50% | $7,670,847 |
| February 2021 | $509,794,592 | $30,313,913 | 5.90% | $5,850,897 |
| March 2021 | $633,614,957 | $49,884,489 | 7.90% | $7,141,198 |
| April 2021 | $537,158,723 | $41,969,306 | 7.80% | $7,067,989 |
| May 2021 | $507,279,761 | $36,554,947 | 7.20% | $5,854,318 |
| June 2021 | $476,517,310 | $48,187,782 | 10.10% | $7,684,748 |
| July 2021 | $369,134,820 | $37,292,355 | 10.10% | $6,058,779 |
| August 2021 | $400,359,760 | $32,717,934 | 8.20% | $4,321,832 |
| September 2021 | $596,455,693 | $44,579,564 | 7.50% | $6,450,631 |
| October 2021 | $840,440,434 | $48,316,644 | 5.70% | $8,459,764 |
| November 2021 | $779,853,367 | $78,227,189 | 10.00% | $12,693,515 |
| December 2021 | $789,600,347 | $36,677,207 | 4.60% | $5,436,663 |
| January 2022 | $867,505,495 | $59,343,378 | 6.80% | $10,687,455 |
| February 2022 | $679,374,199 | $31,074,381 | 4.60% | $5,720,366 |
| March 2022 | $971,278,389 | $79,421,037 | 8.20% | $9,758,140 |
| April 2022 | $839,386,882 | $68,234,791 | 8.10% | $11,321,487 |
| May 2022 | $764,591,757 | $65,214,388 | 8.50% | $10,838,258 |
| June 2022 | $628,459,522 | $40,981,475 | 6.50% | $6,576,948 |
| July 2022 | $516,414,719 | $43,849,539 | 8.50% | $7,392,918 |
| August 2022 | $564,837,409 | $64,628,599 | 11.40% | $7,694,847 |
| September 2022 | $831,805,990 | $83,533,801 | 10.00% | $12,559,685 |
| October 2022 | $1,029,560,184 | $91,569,752 | 8.90% | $16,350,363 |
| November 2022 | $1,029,615,448 | $96,937,248 | 9.40% | $15,581,846 |
| December 2022 | $1,028,471,257 | $81,407,470 | 7.90% | $13,186,151 |
| January 2023 | $1,070,033,292 | $88,552,064 | 8.30% | $15,410,653 |
| February 2023 | $875,387,789 | $63,297,910 | 7.20% | $10,967,295 |
| March 2023 | $1,072,701,361 | $107,423,414 | 10.00% | $15,650,984 |
| April 2023 | $898,571,938 | $81,311,927 | 9.00% | $14,429,201 |
| May 2023 | $821,715,719 | $91,579,820 | 11.10% | $14,348,947 |
| June 2023 | $665,770,747 | $52,288,208 | 7.90% | $8,862,040 |
| July 2023 | $611,372,472 | $61,897,923 | 10.10% | $9,686,791 |
| August 2023 | $676,065,425 | $58,823,721 | 8.70% | $7,549,895 |
| September 2023 | $1,078,339,446 | $99,829,998 | 9.30% | $13,855,307 |
| October 2023 | $1,161,060,707 | $104,679,506 | 9.00% | $18,055,019 |
| November 2023 | $1,375,398,292 | $73,297,758 | 5.3% | $11,666,914 |
| December 2023 | $1,314,056,821 | $126,360,303 | 9.6% | $20,517,094 |
| January 2024 | $1,286,243,926 | $129,511,642 | 10.1% | $21,642,278 |
| February 2024 | $1,070,625,059 | $77,162,218 | 7.2% | $13,452,317 |
| March 2024 | $1,264,532,904 | $103,814,124 | 8.2% | $16,006,617 |
| April 2024 | $1,103,531,944 | $169,312,233 | 15.3% | $14,729,668 |
| Total | $35,001,092,699 | $2,966,836,103 | 8.07% | $459,381,808 |
Indiana Sports Betting
Despite a modest start, Indiana’s betting scene has grown into a stable and mature market. There are very few fluctuations in hold, with revenue and handle staying fairly consistent.
Indiana Sports Betting Revenue – Highlights
- Indiana has seen massive growth in betting handle since its $35 million start in September 2019. The state’s peak handle hit highs of $500 million in January 2022, a month which saw a lot of activity in the NFL and NBA betting markets. Handle has only gone over this level again three times: November and December 2023, and March 2024.
- Indiana’s numbers are impressive across the board, with a total handle of $16 billion, total revenue of $1.484 billion, and tax contributions of $141 million.
- Checking the monthly data from May to August 2023, there’s a dip in handle from May to July with some recovery for August. This is consistent with other years, and coincides with the NFL season starting up again.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2019 | $35,215,418 | $8,284,862 | 23.50% | $813,102 |
| October 2019 | $91,697,395 | $10,629,476 | 11.60% | $1,096,160 |
| November 2019 | $147,276,912 | $10,593,321 | 7.20% | $883,363 |
| December 2019 | $161,806,795 | $12,069,287 | 7.50% | $1,139,147 |
| January 2020 | $171,049,250 | $12,223,222 | 7.10% | $1,221,796 |
| February 2020 | $187,186,221 | $10,381,954 | 5.50% | $1,053,811 |
| March 2020 | $74,818,801 | $5,300,191 | 7.10% | $522,086 |
| April 2020 | $26,304,128 | $1,629,555 | 6.20% | $148,189 |
| May 2020 | $37,334,940 | $3,237,031 | 8.70% | $302,097 |
| June 2020 | $29,783,582 | $2,543,803 | 8.50% | $277,600 |
| July 2020 | $70,876,622 | $4,885,514 | 6.90% | $644,578 |
| August 2020 | $169,018,238 | $12,601,820 | 7.50% | $934,314 |
| September 2020 | $207,450,106 | $11,238,265 | 5.40% | $1,356,952 |
| October 2020 | $230,932,251 | $25,094,814 | 10.90% | $2,005,347 |
| November 2020 | $251,403,994 | $25,255,641 | 10.00% | $2,406,175 |
| December 2020 | $313,112,473 | $22,003,606 | 7.00% | $2,292,472 |
| January 2021 | $348,244,676 | $31,668,178 | 9.10% | $2,803,021 |
| February 2021 | $273,893,073 | $15,867,143 | 5.80% | $1,610,811 |
| March 2021 | $316,717,762 | $27,421,008 | 8.70% | $2,503,311 |
| April 2021 | $236,403,308 | $19,690,320 | 8.30% | $1,907,522 |
| May 2021 | $254,445,226 | $18,011,339 | 7.10% | $1,791,053 |
| June 2021 | $246,321,671 | $26,748,803 | 10.90% | $2,420,541 |
| July 2021 | $194,492,669 | $17,225,036 | 8.90% | $1,658,052 |
| August 2021 | $215,636,824 | $16,704,438 | 7.70% | $1,571,080 |
| September 2021 | $355,425,184 | $33,307,106 | 9.40% | $3,250,964 |
| October 2021 | $461,131,242 | $27,838,472 | 6.00% | $2,597,357 |
| November 2021 | $463,684,739 | $47,815,377 | 10.30% | $4,527,177 |
| December 2021 | $463,015,613 | $26,007,133 | 5.60% | $2,448,195 |
| January 2022 | $500,138,648 | $29,278,177 | 5.90% | $3,379,560 |
| February 2022 | $409,109,104 | $22,396,131 | 5.50% | $1,611,037 |
| March 2022 | $476,802,783 | $32,788,454 | 6.90% | $3,095,106 |
| April 2022 | $360,023,255 | $27,634,092 | 7.70% | $2,722,456 |
| May 2022 | $308,385,687 | $31,951,466 | 10.40% | $2,912,607 |
| June 2022 | $256,307,260 | $15,653,583 | 6.10% | $1,497,766 |
| July 2022 | $206,627,688 | $20,510,071 | 9.90% | $1,985,587 |
| August 2022 | $237,990,176 | $25,978,248 | 10.90% | $2,417,586 |
| September 2022 | $382,507,090 | $50,551,749 | 13.20% | $4,861,450 |
| October 2022 | $446,248,394 | $46,393,925 | 10.40% | $4,458,595 |
| November 2022 | $452,318,954 | $40,197,276 | 8.90% | $3,797,331 |
| December 2022 | $431,423,176 | $43,555,139 | 10.10% | $4,058,864 |
| January 2023 | $427,154,794 | $35,347,154 | 8.30% | $3,463,540 |
| February 2023 | $356,187,759 | $28,076,424 | 7.90% | $2,629,963 |
| March 2023 | $433,022,775 | $43,746,469 | 10.10% | $4,097,409 |
| April 2023 | $321,404,737 | $29,349,149 | 9.10% | $2,794,279 |
| May 2023 | $283,495,510 | $33,542,239 | 11.80% | $3,208,916 |
| June 2023 | $224,070,050 | $19,036,099 | 8.50% | $1,848,269 |
| July 2023 | $203,788,074 | $23,420,740 | 11.50% | $2,209,488 |
| August 2023 | $238,079,855 | $23,633,486 | 9.90% | $2,236,234 |
| September 2023 | $404,140,702 | $40,624,361 | 10.10% | $3,901,903 |
| October 2023 | $429,673,063 | $46,135,347 | 10.70% | $4,297,088 |
| November 2023 | $513,672,424 | $26,848,975 | 5.20% | $2,919,257 |
| December 2023 | $503,127,765 | $54,603,323 | 10.90% | $4,810,719 |
| January 2024 | $480,573,358 | $53,506,698 | 11.1% | $5,079,594 |
| February 2024 | $408,675,534 | $37,601,071 | 9.2% | $3,608,431 |
| March 2024 | $500,757,257 | $37,899,471 | 7.6% | $3,744,875 |
| April 2024 | $393,855,317 | $39,077,679 | 9.9% | $3,523,226 |
| May 2024 | $361,590,148 | $38,695,260 | 10.7% | $3,703,601 |
| Total | $16,985,830,450 | $1,484,308,971 | 8.89% | $141,061,010 |
Iowa Sports Betting
Sports betting in Iowa was impacted significantly in March and April 2020, most likely due to the COVID-19 pandemic. There were big drops in handle and revenue for both months, but the market picked up quickly after that. Since hitting the $100,000 mark in July 2020, the handle hasn’t dipped below 6 figures.
Iowa Sports Betting Revenue – Highlights
- Iowa has racked up a sports betting revenue of over $638 million, establishing itself as a mature and stable market.
- The busiest betting period was from January 2023 with a handle exceeding $300 million. This is likely due to NFL playoffs coinciding with busy NHL and NBA scheduling. Handle didn’t subsequently drop below the $200 million mark until May 2024.
- As mentioned before, there was a large dip in activity around the time the pandemic struck, but there has been steady and consistent growth since then. Since July 2020, Iowa sports betting taxes have been more than $1 million per month on 14 different occasions, with a total tax income following legalization of more than $43 million.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| August 2019 | $8,576,341 | $2,161,807 | 25.20% | $145,922 |
| September 2019 | $38,545,352 | $4,959,745 | 12.90% | $334,783 |
| October 2019 | $46,500,331 | $5,658,131 | 12.20% | $381,924 |
| November 2019 | $59,344,806 | $3,599,750 | 6.10% | $242,983 |
| December 2019 | $59,258,838 | $2,904,257 | 4.90% | $196,037 |
| January 2020 | $58,027,141 | $3,232,696 | 5.60% | $218,349 |
| February 2020 | $56,920,783 | $755,334 | 1.30% | $50,985 |
| March 2020 | $19,585,711 | $1,185,888 | 6.10% | $80,047 |
| April 2020 | $1,568,497 | $150,331 | 9.60% | $10,147 |
| May 2020 | $6,976,637 | $501,062 | 7.20% | $33,822 |
| June 2020 | $12,711,201 | $620,740 | 4.90% | $41,900 |
| July 2020 | $22,859,622 | $2,244,012 | 9.80% | $151,471 |
| August 2020 | $50,313,674 | $3,003,903 | 6.00% | $202,763 |
| September 2020 | $72,397,241 | $5,167,816 | 7.10% | $348,828 |
| October 2020 | $81,902,416 | $9,080,995 | 11.10% | $612,967 |
| November 2020 | $87,169,919 | $8,144,096 | 9.30% | $549,726 |
| December 2020 | $104,815,630 | $7,537,004 | 7.20% | $508,748 |
| January 2021 | $149,524,789 | $11,343,303 | 7.60% | $765,673 |
| February 2021 | $143,615,170 | $7,708,148 | 5.40% | $520,300 |
| March 2021 | $161,439,561 | $13,454,158 | 8.30% | $908,156 |
| April 2021 | $118,355,535 | $7,725,272 | 6.50% | $521,456 |
| May 2021 | $114,882,963 | $6,133,477 | 5.30% | $414,010 |
| June 2021 | $111,176,671 | $8,424,699 | 7.60% | $568,667 |
| July 2021 | $89,960,118 | $8,112,953 | 9.00% | $547,624 |
| August 2021 | $109,149,917 | $7,327,163 | 6.70% | $494,584 |
| September 2021 | $216,116,399 | $11,135,516 | 5.20% | $751,647 |
| October 2021 | $285,532,771 | $10,840,968 | 3.80% | $731,765 |
| November 2021 | $287,436,570 | $19,935,558 | 6.90% | $1,345,650 |
| December 2021 | $266,518,049 | $13,371,197 | 5.00% | $902,556 |
| January 2022 | $303,327,688 | $14,269,557 | 4.70% | $963,195 |
| February 2022 | $215,921,313 | $8,579,100 | 4.00% | $579,089 |
| March 2022 | $233,525,474 | $14,411,046 | 6.20% | $972,746 |
| April 2022 | $177,370,317 | $12,398,243 | 7.00% | $836,881 |
| May 2022 | $147,913,284 | $12,630,387 | 8.50% | $852,551 |
| June 2022 | $122,437,950 | $6,568,678 | 5.40% | $443,386 |
| July 2022 | $108,556,796 | $11,173,191 | 10.30% | $754,190 |
| August 2022 | $122,568,313 | $14,418,923 | 11.80% | $973,277 |
| September 2022 | $200,230,741 | $25,417,557 | 12.70% | $1,715,685 |
| October 2022 | $238,788,234 | $19,137,523 | 8.00% | $1,291,783 |
| November 2022 | $247,476,284 | $5,802,261 | 2.30% | $391,653 |
| December 2022 | $229,949,570 | $20,745,524 | 9.00% | $1,400,323 |
| January 2023 | $233,619,612 | $16,543,361 | 7.10% | $1,116,677 |
| February 2023 | $193,879,638 | $11,888,706 | 6.10% | $802,488 |
| March 2023 | $232,614,150 | $19,857,112 | 8.50% | $1,340,355 |
| April 2023 | $172,589,394 | $14,127,483 | 8.20% | $953,605 |
| May 2023 | $147,715,126 | $16,632,751 | 11.30% | $1,122,711 |
| June 2023 | $115,595,593 | $7,153,370 | 6.20% | $482,852 |
| July 2023 | $109,680,895 | $10,602,043 | 9.70% | $715,638 |
| August 2023 | $141,295,039 | $13,533,730 | 9.60% | $913,527 |
| September 2023 | $245,759,020 | $24,078,590 | 9.80% | $1,625,305 |
| October 2023 | $255,293,522 | $24,189,686 | 9.50% | $1,632,804 |
| November 2023 | $289,698,466 | $14,134,412 | 4.90% | $954,073 |
| December 2023 | $282,723,930 | $26,286,446 | 9.30% | $1,774,335 |
| January 2024 | $259,468,795 | $22,038,903 | 8.5% | $1,487,626 |
| February 2024 | $220,583,732 | $13,608,943 | 6.2% | $920,400 |
| March 2024 | $272,366,214 | $18,194,914 | 6.7% | $1,235,155 |
| April 2024 | $209,522,911 | $16,527,342 | 7.9% | $1,120,126 |
| May 2024 | $182,461,326 | $16,697,596 | 9.2% | $1,130,475 |
| Total | $8,754,115,980 | $638,067,357 | 7.8% | $43,086,401 |
Kansas Sports Betting
As a new market – the state legislature legalized sports betting in September 2022 – the sports betting scene in Kansas has fluctuated at times. While most months have seen a profit, February 2023 was in the red for revenue and hold. This is likely due to Superbowl betting and promotions which favored the bettors over the sportsbooks.
Kansas Sports Betting Revenue and Taxes – Highlights
- Sportsbooks have been very profitable, generating about $340 million in revenue, as laid out in records from the state-run Kansas Lottery.
- The state has benefitted from sports betting with almost $16 million paid in taxes since legalization.
- Kansas’ sports betting opened well and saw a peak in March 2023, coinciding with March Madness. A similar uptick in handle can be seen in March 2024, with over $252 million wagered – the second-highest Kansas sports betting handle to date.
- The Kansas Lottery finance director said in September 2023 that he expected tax income from sports betting to be $10 million in the first full fiscal year of legal sports betting. The actual figure for the fiscal year up to June 2024 was $11,715,906, 17% higher than the director predicted.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2022 | $160,527,371 | $22,014,698 | 13.70% | $129,618 |
| October 2022 | $189,919,311 | $18,582,842 | 9.80% | $141,088 |
| November 2022 | $186,353,708 | $19,073,128 | 10.20% | $795,784 |
| December 2022 | $181,977,180 | $16,835,233 | 9.30% | $1,026,140 |
| January 2023 | $206,060,734 | $15,105,189 | 7.30% | $598,745 |
| February 2023 | $194,034,469 | -$845,377 | -0.40% | $1,134 |
| March 2023 | $206,287,094 | $20,975,191 | 10.20% | $911,159 |
| April 2023 | $132,981,289 | $14,636,899 | 11.00% | $919,720 |
| May 2023 | $120,323,444 | $14,550,824 | 12.10% | $887,390 |
| June 2023 | $98,125,865 | $8,195,048 | 8.40% | $409,425 |
| July 2023 | $79,715,016 | $9,644,263 | 12.10% | $683,176 |
| August 2023 | $94,415,479 | $7,662,828 | 8.10% | $484,366 |
| September 2023 | $219,293,493 | $18,155,498 | 8.30% | $806,097 |
| October 2023 | $249,711,810 | $25,404,712 | 10.20% | $1,437,030 |
| November 2023 | $260,937,284 | $18,017,353 | 6.90% | $892,968 |
| December 2023 | $259,678,435 | $30,913,033 | 11.90% | $2,005,261 |
| January 2024 | $239,618,587 | $20,864,472 | 8.7% | $1,433,272 |
| February 2024 | $203,046,644 | $8,463,732 | 4.2% | $305,494 |
| March 2024 | $252,901,770 | $16,760,995 | 6.6% | $714,697 |
| April 2024 | $192,085,924 | $17,890,802 | 9.3% | $1,040,396 |
| May 2024 | $172,204,880 | $17,210,244 | 10% | $976,764 |
| June 2024 | $140,102,333 | $9,363,846 | 6.6% | $936,385 |
| Total | $4,040,302,120 | $349,475,453 | 8.84% | $17,536,109 |
Kentucky Sports Betting
Kentucky is one of the newest legal sports betting markets out there and has already managed to exceed the expectations. It’s a promising start but we’ll see how the full year unfolds.
Kentucky Sports Betting Revenue and Handle – Highlights
- The initial projections for the full year taxes were $23 million but the state already managed to reach $8 million mark within two months.
- 96% of the total handle was done through mobile wagering.
- According to the governor Andy Beshear, the tax money will be spent on gambling oversight, creating a fund for gambling addiction, as well as help the pension system.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2023 | $45,862,902 | $2,710,059 | 5.90% | $321,966 |
| October 2023 | $294,950,219 | $54,524,325 | 18.50% | $7,618,788 |
| November 2023 | $282,513,959 | $23,292,929 | 8.2% | $3,066,379 |
| December 2023 | $264,063,642 | $32,855,692 | 12.4% | $4,523,275 |
| Total | $892,370,161 | $117,906,826 | 13.2% | $15,557,655 |
Louisiana Sports Betting
It took a few months for sports betting to take off in Lousiana, but it leapt from almost $89 million in January 2022 to over $230 million in February 2022. The total handle reached almost $4 billion, resulting in a revenue of $420 million, by the end of August 2023.
Louisiana Sports Betting Revenue – Highlights
- The highest monthly revenue and taxes were raised in December 2022, totaling $37.29 million and $4 million respectively.
- November 2022 had the lowest revenue and hold of -$25 million and -9.40%, suggesting that a lot of bets went against the sports books in that month.
- There was a fairly stable hold rate across all the months listed, with an average of 10.6%.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| November 2021 | $27,871,038 | $5,685,706 | 20.40% | $568,571 |
| December 2021 | $39,517,545 | $4,380,700 | 11.10% | $438,070 |
| January 2022 | $89,757,060 | $7,992,540 | 8.90% | $533,259 |
| February 2022 | $238,413,596 | $27,316,419 | 11.50% | $2,421,541 |
| March 2022 | $232,730,341 | $30,943,063 | 13.30% | $3,413,595 |
| April 2022 | $208,255,060 | $6,140,843 | 2.90% | $2,573,658 |
| May 2022 | $171,135,819 | $25,691,302 | 15.00% | $2,663,220 |
| June 2022 | $132,438,215 | $10,891,261 | 8.20% | $1,424,413 |
| July 2022 | $118,522,225 | $20,980,159 | 17.70% | $2,442,246 |
| August 2022 | $128,251,857 | $9,587,258 | 7.50% | $1,775,179 |
| September 2022 | $203,807,226 | $33,390,478 | 16.40% | $4,040,335 |
| October 2022 | $255,805,485 | $30,774,673 | 12.00% | $4,308,649 |
| November 2022 | $268,638,967 | -$25,318,031 | -9.40% | $4,244,196 |
| December 2022 | $254,753,433 | $37,290,999 | 14.60% | $4,365,471 |
| January 2023 | $282,269,901 | $35,725,850 | 12.70% | $3,330,035 |
| February 2023 | $197,709,561 | $23,295,088 | 11.80% | $2,554,375 |
| March 2023 | $249,280,628 | $32,319,508 | 13.00% | $3,590,725 |
| April 2023 | $209,746,932 | $23,414,940 | 11.20% | $2,945,211 |
| May 2023 | $195,123,855 | $29,860,212 | 15.30% | $3,579,595 |
| June 2023 | $160,083,233 | $13,981,060 | 8.70% | $1,697,439 |
| July 2023 | $134,757,491 | $18,282,477 | 13.60% | $2,185,154 |
| August 2023 | $153,933,704 | $18,137,683 | 11.80% | $2,109,829 |
| September 2023 | $280,093,549 | $43,143,474 | 15.40% | $5,318,554 |
| October 2023 | $308,613,008 | $43,338,752 | 14.00% | $5,319,894 |
| November 2023 | $356,479,622 | $29,290,043 | 8.20% | $3,245,327 |
| December 2023 | $377,046,556 | $56,511,836 | 15% | $7,590,704 |
| January 2024 | $346,320,907 | $3,224,015 | 0.9% | $5,681,508 |
| Total | $5,621,356,814 | $596,272,308 | 10.6% | $84,360,753 |
Maine Sports Betting
Maine Sports Betting Revenue – Highlights
- Although it’s still early to make predictions, Maine proved itself to be a fertile market with a total of nearly $82 million in the first two months of work.
- The handle was around $5.4 million in the first five days since betting was legalized.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| November 2023 | $37,468,154 | $4,724,032 | 12.60% | $464,151 |
| December 2023 | $44,354,459 | $4,486,321 | 10.10% | $437,884 |
| January 2024 | $38,010,991 | $5,430,666 | 14.3% | $546,149 |
| Total | $119,833,426 | $14,371,353 | 12% | $1,448,185 |
Maryland Sports Betting
Maryland’s sports betting industry has grown significantly since December 2021. The growth rate was steady until it lept to a handle of $219 million by November 2022.
Maryland Sports Betting Revenue, Handle, and Taxes – Highlights
- There was over 30 times increase in handle from December 2021 to December 2022, jumping from $16.55 million to $497 million in those 12 months.
- The highest revenue was in December 2022, reaching $85 million. This was likely due to the 2022 FIFA World Cup having good results for sports books, combined with the NFL and NBA seasons.
- While the revenue for December 2022 was high, the tax was surprisingly low at $440k. This might be due to more free bets being offered than normal, as these are not taxed in Maryland.
- The hold percentage has remained relatively stable throughout, with an average of 12.8%.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| December 2021 | $16,552,430 | $3,170,001 | 19.20% | $469,297 |
| January 2022 | $32,530,831 | $4,375,316 | 13.40% | $644,098 |
| February 2022 | $25,526,148 | $955,377 | 3.70% | $134,628 |
| March 2022 | $31,025,892 | $3,927,573 | 12.70% | $577,019 |
| April 2022 | $26,908,845 | $2,838,501 | 10.50% | $415,801 |
| May 2022 | $23,095,542 | $3,077,031 | 13.30% | $452,897 |
| June 2022 | $19,121,331 | $1,309,834 | 6.90% | $189,323 |
| July 2022 | $15,492,757 | $2,026,548 | 13.10% | $298,177 |
| August 2022 | $18,650,802 | $3,231,851 | 17.30% | $477,840 |
| September 2022 | $31,376,072 | $6,639,776 | 21.20% | $984,308 |
| October 2022 | $39,663,586 | $5,309,436 | 13.40% | $781,642 |
| November 2022 | $219,071,374 | $30,620,539 | 14.00% | $704,728 |
| December 2022 | $497,121,656 | $85,168,804 | 17.10% | $440,043 |
| January 2023 | $441,481,779 | $59,601,405 | 13.50% | $2,114,613 |
| February 2023 | $339,421,546 | $40,214,644 | 11.80% | $2,796,880 |
| March 2023 | $385,967,195 | $47,548,313 | 12.30% | $5,310,057 |
| April 2023 | $328,454,397 | $35,644,586 | 10.90% | $3,864,686 |
| May 2023 | $320,199,671 | $42,742,217 | 13.30% | $4,650,711 |
| June 2023 | $254,476,790 | $27,077,118 | 10.60% | $2,835,051 |
| July 2023 | $247,412,348 | $28,114,521 | 11.40% | $3,312,633 |
| August 2023 | $263,729,559 | $24,900,637 | 9.40% | $2,555,671 |
| September 2023 | $442,450,666 | $45,575,923 | 10.30% | $3,231,427 |
| October 2023 | $483,147,391 | $58,701,910 | 12.10% | $5,812,245 |
| November 2023 | $550,716,329 | $41,628,982 | 7.60% | $3,199,529 |
| December 2023 | $559,865,463 | $62,330,932 | 11.10% | $6,482,403 |
| January 2024 | $544,971,369 | $80,000,652 | 14.7% | $8,246,847 |
| Total | $6,158,431,766 | $746,732,427 | 12.1% | $60,982,554 |
Massachusetts Sports Betting
January 2023 aside, February to August 2023 have shown good levels of betting and revenue generation in Massachusetts. March saw an impressive spike in handle and revenue, likely due to the NCAA March Madness tournament.
Massachusetts Sports Betting Revenue – Highlights
- From January to August 2023, Massachusetts saw a total betting handle of $2.5 billion, which led to around $258.74 million in revenue.
- The average hold percentage across all months was a solid 10.0%, which shows that sportsbooks have been largely profitable in the state.
- March 2023 had the highest handle in Massachusetts, reaching around $584 million.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| January 2023 | $642,630 | -$8,227 | -1.30% | $9,718 |
| February 2023 | $24,979,240 | $1,486,743 | 6.00% | $202,660 |
| March 2023 | $584,520,728 | $48,321,254 | 8.30% | $9,345,767 |
| April 2023 | $574,829,883 | $60,281,564 | 10.50% | $11,799,200 |
| May 2023 | $457,140,440 | $62,073,252 | 13.60% | $12,120,399 |
| June 2023 | $332,312,764 | $32,918,844 | 9.90% | $6,414,495 |
| July 2023 | $296,099,657 | $30,132,704 | 10.20% | $5,852,993 |
| August 2023 | $320,736,344 | $23,485,442 | 7.30% | $4,542,588 |
| September 2023 | $519,762,909 | $51,033,638 | 9.80% | $9,911,837 |
| October 2023 | $567,157,529 | $60,716,300 | 10.70% | $11,817,607 |
| November 2023 | $654,856,914 | $50,548,069 | 7.70% | $9,770,276 |
| December 2023 | $655,598,548 | $62,161,918 | 9.50% | $12,045,361 |
| January 2024 | $650,279,922 | $72,718,241 | 11.2% | $14,165,773 |
| Total | $5,639,297,696 | $555,869,743 | 9.9% | $107,998,672 |
Michigan Sports Betting
After a fading to nothing during the start of the COVID-19 pandemic, Michigan’s sports betting industry made a strong comeback. From January 2021, they have shown consistent 9 figure numbers for handle, showing a mature market.
As the average hold percentage for the state is 8.7%, they’ve had significant tax contributions of $51 million as a result.
Michigan Sports Betting Revenue, Handle, and Hold – Highlights
- From March 2020 to August 2023, Michigan saw a total betting handle of about $11.50 billion, generating revenue of approximately $996.18 million.
- The average hold percentage was a healthy 8.7%, which shows the sustained popularity of betting in the state.
- February 2021 had the lowest hold percentage at 2.9%, even though its handle was one of the highest. This could mean that bettors benefitted from Tom Brady’s Tampa Bay Buccaneers winning the Super Bowl at the expense of the sportsbooks.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| March 2020 | $593,956 | $105,548 | 17.80% | $8,866 |
| April 2020 | $0 | $0 | 0.00% | $0 |
| May 2020 | $0 | $0 | 0.00% | $0 |
| June 2020 | $0 | $0 | 0.00% | $0 |
| July 2020 | $0 | $0 | 0.00% | $0 |
| August 2020 | $15,744,256 | $1,977,052 | 12.60% | $166,072 |
| September 2020 | $33,503,929 | $4,376,407 | 13.10% | $367,618 |
| October 2020 | $46,120,824 | $7,596,972 | 16.50% | $638,146 |
| November 2020 | $25,080,140 | $2,337,638 | 9.30% | $196,362 |
| December 2020 | $9,720,393 | $1,883,240 | 19.40% | $158,192 |
| January 2021 | $150,849,896 | $17,423,564 | 11.60% | $517,022 |
| February 2021 | $325,569,037 | $9,395,302 | 2.90% | $233,294 |
| March 2021 | $383,691,892 | $35,238,593 | 9.20% | $1,111,886 |
| April 2021 | $274,212,630 | $21,922,961 | 8.00% | $629,336 |
| May 2021 | $257,748,035 | $21,228,714 | 8.20% | $1,140,664 |
| June 2021 | $259,504,202 | $27,244,793 | 10.50% | $1,638,701 |
| July 2021 | $206,267,088 | $20,766,255 | 10.10% | $1,241,237 |
| August 2021 | $208,565,955 | $17,536,332 | 8.40% | $896,007 |
| September 2021 | $386,780,231 | $27,135,351 | 7.00% | $981,126 |
| October 2021 | $497,565,425 | $26,947,289 | 5.40% | $1,129,191 |
| November 2021 | $500,521,376 | $58,762,835 | 11.70% | $2,893,243 |
| December 2021 | $514,630,536 | $35,920,227 | 7.00% | $1,201,105 |
| January 2022 | $532,681,710 | $36,647,758 | 6.90% | $2,135,046 |
| February 2022 | $423,768,381 | $21,633,471 | 5.10% | $508,254 |
| March 2022 | $477,967,947 | $32,445,133 | 6.80% | $1,466,772 |
| April 2022 | $396,009,819 | $32,630,491 | 8.20% | $1,696,097 |
| May 2022 | $356,130,390 | $35,920,231 | 10.10% | $1,992,223 |
| June 2022 | $292,389,429 | $15,826,610 | 5.40% | $567,965 |
| July 2022 | $224,966,256 | $22,874,582 | 10.20% | $1,307,287 |
| August 2022 | $229,797,476 | $25,654,849 | 11.20% | $1,490,223 |
| September 2022 | $383,102,602 | $50,442,748 | 13.20% | $2,601,351 |
| October 2022 | $504,336,507 | $51,362,299 | 10.20% | $2,972,271 |
| November 2022 | $498,118,043 | $42,758,230 | 8.60% | $2,494,635 |
| December 2022 | $494,820,409 | $50,450,735 | 10.20% | $2,827,280 |
| January 2023 | $490,904,822 | $33,785,629 | 6.90% | $1,716,686 |
| February 2023 | $357,161,200 | $23,134,728 | 6.50% | $959,332 |
| March 2023 | $421,666,037 | $46,016,812 | 10.90% | $2,900,149 |
| April 2023 | $338,127,853 | $36,275,215 | 10.70% | $2,324,351 |
| May 2023 | $305,275,755 | $36,125,966 | 11.80% | $2,152,149 |
| June 2023 | $235,996,767 | $17,928,415 | 7.60% | $825,756 |
| July 2023 | $208,808,123 | $22,985,461 | 11.00% | $1,527,305 |
| August 2023 | $228,495,763 | $23,480,419 | 10.30% | $1,472,826 |
| September 2023 | $475,772,391 | $45,606,094 | 9.60% | $1,853,777 |
| October 2023 | $551,127,024 | $46,135,708 | 8.40% | $2,537,783 |
| November 2023 | $584,142,443 | $37,043,266 | 6.30% | $1,180,415 |
| December 2023 | $613,425,699 | $65,920,318 | 10.7% | $4,021,700 |
| January 2024 | $601,585,142 | $48,197,778 | 8% | $1,978,630 |
| Total | $14,323,247,789 | $1,239,082,021 | 8.7% | $62,565,672 |
Mississippi Sports Betting
Mississippi’s sports betting sites have generally had positive revenue since opening up in 2018. While there have been some ups and downs in the handle, sportsbooks have had good profitability thanks to a steady hold percentage.
The data also shows that the market is strong in Mississippi as they bounced back quickly from the COVID-19 pandemic in 2020.
Mississippi Sports Betting Revenue – Highlights
- Between August 2018 and August 2023, Mississippi recorded a total betting handle of about $2.27 billion, with a revenue of roughly $257 million.
- October 2019 was the month with the highest revenue month at about $12.3 million. This was accompanied by a 25.6% hold. These figures were probably due to a combination of betting in the NFL regular season and the MLB World Series.
- 2023’s data shows that both the handle and the revenue have been relatively lower compared to some peaks in previous years. As the hold percentages have stayed strong overall profitability is still good for the operators.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| August 2018 | $7,696,051 | $645,057 | 8.40% | $77,407 |
| September 2018 | $31,770,270 | $5,503,793 | 17.30% | $660,455 |
| October 2018 | $32,837,334 | $1,178,343 | 3.60% | $141,401 |
| November 2018 | $44,499,883 | $1,674,250 | 3.80% | $200,910 |
| December 2018 | $41,762,048 | $6,174,224 | 14.80% | $740,907 |
| January 2019 | $35,190,774 | $2,793,238 | 7.90% | $335,189 |
| February 2019 | $25,148,135 | $2,756,439 | 11.00% | $330,773 |
| March 2019 | $32,421,264 | $4,898,726 | 15.10% | $587,847 |
| April 2019 | $19,188,763 | $2,057,834 | 10.70% | $246,940 |
| May 2019 | $17,438,288 | $1,191,967 | 6.80% | $143,036 |
| June 2019 | $15,190,666 | $1,625,113 | 10.70% | $195,014 |
| July 2019 | $13,383,383 | $1,053,776 | 7.90% | $126,453 |
| August 2019 | $19,876,370 | $2,884,348 | 14.50% | $346,122 |
| September 2019 | $37,870,989 | $5,631,583 | 14.90% | $675,790 |
| October 2019 | $48,019,481 | $12,295,357 | 25.60% | $1,475,443 |
| November 2019 | $56,369,036 | $3,784,071 | 6.70% | $454,088 |
| December 2019 | $49,076,433 | $3,478,919 | 7.10% | $417,470 |
| January 2020 | $45,190,371 | $4,637,967 | 10.30% | $556,556 |
| February 2020 | $34,462,822 | $2,105,780 | 6.10% | $252,694 |
| March 2020 | $10,749,403 | $648,647 | 6.00% | $77,838 |
| April 2020 | $0 | $0 | 0.00% | $0 |
| May 2020 | $236,503 | $87,697 | 37.10% | $10,524 |
| June 2020 | $1,575,859 | -$62,231 | -3.90% | -$7,468 |
| July 2020 | $7,916,665 | $1,335,763 | 16.90% | $160,292 |
| August 2020 | $40,489,135 | $3,748,732 | 9.30% | $449,848 |
| September 2020 | $52,220,289 | $6,598,931 | 12.60% | $791,872 |
| October 2020 | $61,192,425 | $8,769,600 | 14.30% | $1,052,352 |
| November 2020 | $54,443,370 | $8,108,102 | 14.90% | $972,972 |
| December 2020 | $55,298,807 | $7,762,542 | 14.00% | $931,505 |
| January 2021 | $67,707,628 | $9,114,483 | 13.50% | $1,093,738 |
| February 2021 | $47,807,574 | $4,606,840 | 9.60% | $552,821 |
| March 2021 | $50,546,886 | $5,237,031 | 10.40% | $628,444 |
| April 2021 | $32,917,836 | $4,300,968 | 13.10% | $516,116 |
| May 2021 | $36,125,896 | $3,888,299 | 10.80% | $466,596 |
| June 2021 | $43,099,180 | $3,194,317 | 7.40% | $383,318 |
| July 2021 | $30,659,426 | $2,887,695 | 9.40% | $346,523 |
| August 2021 | $21,436,948 | $1,886,405 | 8.80% | $226,369 |
| September 2021 | $54,835,753 | $8,846,121 | 16.10% | $1,061,535 |
| October 2021 | $83,527,015 | $9,146,353 | 11.00% | $1,097,562 |
| November 2021 | $60,582,141 | $9,520,846 | 15.70% | $1,142,502 |
| December 2021 | $56,839,743 | $3,238,730 | 5.70% | $388,648 |
| January 2022 | $66,523,295 | $6,521,389 | 9.80% | $782,567 |
| February 2022 | $40,871,618 | $1,887,995 | 4.60% | $226,559 |
| March 2022 | $47,523,073 | $3,965,723 | 8.30% | $475,887 |
| April 2022 | $35,503,585 | $4,209,290 | 11.90% | $505,115 |
| May 2022 | $29,233,786 | $4,006,359 | 13.70% | $480,763 |
| June 2022 | $25,096,238 | $2,082,091 | 8.30% | $249,851 |
| July 2022 | $18,296,341 | $2,527,212 | 13.80% | $303,265 |
| August 2022 | $21,234,898 | $2,687,465 | 12.70% | $322,496 |
| September 2022 | $43,139,311 | $8,779,943 | 20.40% | $1,053,593 |
| October 2022 | $56,199,189 | $7,687,183 | 13.70% | $922,462 |
| November 2022 | $73,605,361 | $5,087,585 | 6.90% | $610,510 |
| December 2022 | $74,358,933 | $11,297,381 | 15.20% | $1,355,686 |
| January 2023 | $57,223,251 | $5,117,380 | 8.90% | $614,086 |
| February 2023 | $39,807,504 | $3,143,541 | 7.90% | $377,225 |
| March 2023 | $46,689,392 | $4,953,171 | 10.60% | $594,381 |
| April 2023 | $31,805,004 | $4,347,138 | 13.70% | $521,657 |
| May 2023 | $26,761,691 | $3,180,953 | 11.90% | $381,714 |
| June 2023 | $20,414,902 | $1,848,676 | 9.10% | $221,841 |
| July 2023 | $17,728,739 | $2,463,671 | 13.90% | $295,641 |
| August 2023 | $21,392,231 | $2,691,244 | 12.60% | $322,949 |
| September 2023 | $51,647,915 | $8,144,028 | 15.80% | $977,283 |
| October 2023 | $49,503,679 | $7,344,506 | 14.80% | $881,341 |
| November 2023 | $62,412,735 | $3,103,061 | 5.00% | $372,367 |
| December 2023 | $48,888,089 | $4,886,771 | 10% | $586,413 |
| January 2024 | $57,223,251 | $5,117,380 | 8.9% | $614,086 |
| Total | $2,540,684,851 | $286,317,793 | 11.3% | $34,358,135 |
Montana Sports Betting
Montana’s sports betting journey started slowly thanks to the COVID-19 pandemic. After a few months, it quickly gained momentum and hasn’t slowed down since. The data suggests that sports betting has found a stable and growing audience. The industry is making a positive contribution to the state’s taxes as a result, with $3.35 million already paid.
Montana Sports Betting Revenue – Highlights
- From March 2020 to August 2023, Montana’s total betting handle was approximately $153 million, resulting in revenue of around $20.89 million.
- Since crossing the $2 million mark, Montana’s handle has been consistent, and the hold percentages have rarely dropped below 10%.
- Montana’s handle peaked in December 2022 at approximately $7.22 million. This is likely due to the winter 2022 Soccer World Cup and the NFL and NBA seasons being in full swing.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| March 2020 | $8,051 | $3,130 | 38.90% | $1,395 |
| April 2020 | $434 | -$289 | -66.60% | -$199 |
| May 2020 | $113,283 | $30,502 | 26.90% | $11,504 |
| June 2020 | $346,600 | $68,714 | 19.80% | $20,433 |
| July 2020 | $1,554,924 | $170,766 | 11.00% | $9,164 |
| August 2020 | $2,606,465 | $240,986 | 9.20% | -$11,797 |
| September 2020 | $2,452,736 | $303,394 | 12.40% | $34,872 |
| October 2020 | $2,935,271 | $491,142 | 16.70% | $118,569 |
| November 2020 | $3,184,529 | $465,183 | 14.60% | $88,038 |
| December 2020 | $5,568,187 | $594,935 | 10.70% | $22,870 |
| January 2021 | $5,142,569 | $486,975 | 9.50% | -$16,369 |
| February 2021 | $3,863,473 | $309,201 | 8.00% | -$46,288 |
| March 2021 | $4,411,507 | $652,401 | 14.80% | $126,750 |
| April 2021 | $3,253,865 | $501,413 | 15.40% | $105,616 |
| May 2021 | $3,981,680 | $496,740 | 12.50% | $59,143 |
| June 2021 | $3,700,999 | $385,441 | 10.40% | $9,205 |
| July 2021 | $2,629,806 | $446,624 | 17.00% | $110,186 |
| August 2021 | $3,349,655 | $475,519 | 14.20% | $84,332 |
| September 2021 | $3,023,972 | $561,587 | 18.60% | $155,514 |
| October 2021 | $4,404,020 | $568,817 | 12.90% | $77,049 |
| November 2021 | $4,531,859 | $879,240 | 19.40% | $255,632 |
| December 2021 | $4,922,327 | $642,265 | 13.00% | $90,020 |
| January 2022 | $5,117,844 | $669,464 | 13.10% | $94,608 |
| February 2022 | $3,631,705 | $705,841 | 19.40% | $205,602 |
| March 2022 | $3,981,218 | $671,606 | 16.90% | $164,091 |
| April 2022 | $3,243,425 | $389,693 | 12.00% | $39,210 |
| May 2022 | $3,236,702 | $382,130 | 11.80% | $35,076 |
| June 2022 | $2,911,455 | $274,694 | 9.40% | -$9,871 |
| July 2022 | $2,560,000 | $274,000 | 10.70% | $10,800 |
| August 2022 | $2,975,100 | $440,591 | 14.80% | $85,849 |
| September 2022 | $4,940,321 | $975,542 | 19.70% | $288,906 |
| October 2022 | $5,319,627 | $681,222 | 12.80% | $89,556 |
| November 2022 | $5,782,523 | $777,488 | 13.40% | $119,541 |
| December 2022 | $7,218,595 | $931,178 | 12.90% | $125,591 |
| January 2023 | $7,139,581 | $979,495 | 13.70% | $159,322 |
| February 2023 | $4,366,807 | $560,668 | 12.80% | $74,392 |
| March 2023 | $5,784,045 | $925,542 | 16.00% | $208,283 |
| April 2023 | $5,201,964 | $633,005 | 12.20% | $67,685 |
| May 2023 | $4,457,829 | $666,686 | 15.00% | $132,542 |
| June 2023 | $3,353,974 | $282,263 | 8.40% | -$31,881 |
| July 2023 | $2,587,209 | $560,046 | 21.60% | $180,795 |
| August 2023 | $3,221,337 | $337,442 | 10.50% | $9,185 |
| September 2023 | $6,204,965 | $676,451 | 10.90% | $33,573 |
| October 2023 | $6,787,517 | $1,102,195 | 16.20% | $254,066 |
| November 2023 | $6,996,429 | $717,423 | 10.30% | $10,668 |
| December 2023 | $6,157,163 | $1,005,395 | 16.30% | $233,807 |
| January 2024 | $5,863,499 | $852,106 | 14.5% | $159,454 |
| Total | $185,027,045 | $25,246,852 | 13.6% | $4,046,489 |
Nebraska Sports Betting
Nebraska Sports Betting Revenue – Not Available
The only form of sports betting that Nebraska currently recognizes is horse racing at state licensed racetracks.
However, due to concerns in the state about high property taxes, the prospect of legalized sports betting has recently come to the fore. The state legislature discussed on July 31, 2024, whether to add a measure to legalize sports betting to the ballot in November.
Based on the average annual revenue per 21+ person in states with legalized sports betting, we predict that Nebraska could earn $25,773,526 in taxes on a handle of $128,867,630. Around 90% of that tax revenue would go towards reducing the property tax burden in the state, which is currently the eighth highest across the country.
While problem gambling is a concern raised by the likes of Nebraska congressman and former football coach Tom Osborn, data suggests the average American gambler wagers $84.55 per month and loses just $7. of 71 that.
Nevada Sports Betting
The home of gambling in the US has delivered a healthy and successful sports betting market. Keeping their position as a key player in the industry, they have consistent profits, high handles, and are resilient to external changes. The addition of NHL and NFL teams in recent years, with the possibility of NBA expansion, only cements Nevada’s status as a big sports betting destination.
Nevada Sports Betting Revenue – Highlights
- From June 2018 to August 2023, Nevada saw a total betting handle of about $34.36 billion, with around $1.93 billion in total revenue.
- The average hold percentage over this period was 5.6%, showcasing a stable and typical margin for Nevada. Operators in the state tend to offer lower margins thanks to the amount of competition, which keeps the hold percentage low.
- The highest monthly was in October 2021, reaching approximately $1.1 billion. In contrast, the lowest handle was in April 2020, with $28.1 million, a drop caused by the COVID-19 pandemic.
- Despite pandemic problems, Nevada’s sports betting market rebounded quickly. By September 2020, the handle had surpassed half a billion dollars.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| June 2018 | $286,282,315 | $20,172,000 | 7.00% | $1,361,610 |
| July 2018 | $245,109,818 | $4,061,000 | 1.70% | $274,118 |
| August 2018 | $247,622,046 | $12,603,000 | 5.10% | $850,703 |
| September 2018 | $571,371,045 | $56,304,000 | 9.90% | $3,800,520 |
| October 2018 | $528,086,065 | $29,547,000 | 5.60% | $1,994,423 |
| November 2018 | $580,693,817 | $27,136,000 | 4.70% | $1,831,680 |
| December 2018 | $562,133,600 | $44,106,000 | 7.80% | $2,977,155 |
| January 2019 | $496,689,151 | $14,626,000 | 2.90% | $987,255 |
| February 2019 | $458,498,365 | $35,816,000 | 7.80% | $2,417,580 |
| March 2019 | $597,045,387 | $32,523,000 | 5.40% | $2,195,303 |
| April 2019 | $328,025,447 | $21,656,000 | 6.60% | $1,461,780 |
| May 2019 | $317,511,432 | $11,267,000 | 3.50% | $760,523 |
| June 2019 | $322,050,433 | $16,588,000 | 5.20% | $1,119,690 |
| July 2019 | $235,961,371 | $10,534,000 | 4.50% | $711,045 |
| August 2019 | $287,811,624 | $18,733,000 | 6.50% | $1,264,478 |
| September 2019 | $546,193,707 | $52,069,000 | 9.50% | $3,514,658 |
| October 2019 | $543,922,446 | $47,886,000 | 8.80% | $3,232,305 |
| November 2019 | $614,070,720 | $31,012,000 | 5.10% | $2,093,310 |
| December 2019 | $571,142,557 | $36,327,000 | 6.40% | $2,452,073 |
| January 2020 | $502,279,982 | $20,152,000 | 4.00% | $1,360,260 |
| February 2020 | $491,705,606 | $38,064,000 | 7.70% | $2,569,320 |
| March 2020 | $141,108,201 | $1,455,000 | 1.00% | $98,213 |
| April 2020 | $28,131,869 | $1,334,500 | 4.70% | $90,079 |
| May 2020 | $28,131,869 | $1,334,500 | 4.70% | $90,079 |
| June 2020 | $78,152,387 | -$483,000 | -0.60% | -$32,602 |
| July 2020 | $163,552,030 | $6,295,000 | 3.80% | $424,913 |
| August 2020 | $474,948,414 | $16,985,000 | 3.60% | $1,146,488 |
| September 2020 | $575,144,025 | $32,895,000 | 5.70% | $2,220,413 |
| October 2020 | $659,899,331 | $42,388,000 | 6.40% | $2,861,190 |
| November 2020 | $609,376,849 | $61,807,000 | 10.10% | $4,171,973 |
| December 2020 | $587,056,304 | $40,573,000 | 6.90% | $2,738,678 |
| January 2021 | $646,491,632 | $52,381,000 | 8.10% | $3,535,718 |
| February 2021 | $554,058,173 | $31,846,000 | 5.70% | $2,149,605 |
| March 2021 | $640,984,932 | $39,346,000 | 6.10% | $2,655,855 |
| April 2021 | $458,251,710 | $27,210,000 | 5.90% | $1,836,675 |
| May 2021 | $477,191,062 | $27,079,000 | 5.70% | $1,827,833 |
| June 2021 | $545,367,518 | $29,186,000 | 5.40% | $1,970,055 |
| July 2021 | $409,659,756 | $33,278,000 | 8.10% | $2,246,265 |
| August 2021 | $427,425,369 | $14,342,000 | 3.40% | $968,085 |
| September 2021 | $786,508,562 | $54,205,000 | 6.90% | $3,658,838 |
| October 2021 | $1,100,712,575 | $48,312,000 | 4.40% | $3,261,060 |
| November 2021 | $1,086,010,454 | $71,971,000 | 6.60% | $4,858,043 |
| December 2021 | $1,014,986,618 | $15,960,000 | 1.60% | $1,077,300 |
| January 2022 | $1,034,818,801 | $49,997,000 | 4.80% | $3,374,798 |
| February 2022 | $780,768,853 | $30,920,000 | 4.00% | $2,087,100 |
| March 2022 | $863,283,921 | $36,926,000 | 4.30% | $2,492,505 |
| April 2022 | $582,529,725 | $25,368,000 | 4.40% | $1,712,340 |
| May 2022 | $562,000,848 | $26,999,000 | 4.80% | $1,822,433 |
| June 2022 | $490,558,644 | $23,835,000 | 4.90% | $1,608,863 |
| July 2022 | $419,372,311 | $18,591,000 | 4.40% | $1,254,893 |
| August 2022 | $408,935,554 | $16,072,000 | 3.90% | $1,084,860 |
| September 2022 | $760,891,578 | $70,629,000 | 9.30% | $4,767,458 |
| October 2022 | $920,931,244 | $56,859,000 | 6.20% | $3,837,983 |
| November 2022 | $929,046,456 | $37,671,000 | 4.10% | $2,542,793 |
| December 2022 | $880,380,248 | $55,204,000 | 6.30% | $3,726,270 |
| January 2023 | $935,792,553 | $50,440,000 | 5.40% | $3,404,700 |
| February 2023 | $659,079,542 | $41,277,000 | 6.30% | $2,786,198 |
| March 2023 | $829,842,964 | $43,851,000 | 5.30% | $2,959,943 |
| April 2023 | $598,010,327 | $32,415,000 | 5.40% | $2,188,013 |
| May 2023 | $527,205,770 | $30,064,000 | 5.70% | $2,029,320 |
| June 2023 | $479,039,381 | $9,503,000 | 2.00% | $641,453 |
| July 2023 | $408,261,712 | $25,256,000 | 6.20% | $1,704,780 |
| August 2023 | $431,597,004 | $18,101,000 | 4.20% | $1,221,818 |
| September 2023 | $811,353,568 | $62,297,000 | 7.70% | $4,205,048 |
| October 2023 | $815,650,207 | $68,111,000 | 8.40% | $4,597,493 |
| November 2023 | $921,619,677 | $40,992,000 | 4.40% | $2,766,960 |
| December 2023 | $843,985,180 | $59,090,000 | 7% | $3,988,575 |
| January 2024 | $782,980,978 | $64,739,000 | 8.3% | $4,369,883 |
| Total | $38,505,293,616 | $2,226,089,000 | 5.8% | $150,261,008 |
New Hampshire Sports Betting
New Hampshire’s sports betting market has consistent resilience to external factors since launching just before the pandemic hit. The steady growth has attracted bettors and generated significant tax revenue. Their consistent levels of profitability, with occasional spikes in handle and revenue, show a healthy and vibrant betting industry in the state.
New Hampshire Sports Betting Revenue and Taxes – Highlights
- New Hampshire has benefitted by nearly $84 million from sports betting taxes.
- March 2023 marked the peak handle for the state at $103.39 million. This was likely fueled by March Madness.
- May 2023 had a notable 13.5% hold on a $52.14 million handle, a month that had some good results for sportsbook operators compared to bettors as it was double the the usual 7.6% hold for New Hampshire.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| December 2019 | $360,726 | $44,759 | 12.40% | $19,403 |
| January 2020 | $16,834,974 | $1,643,793 | 9.80% | $713,311 |
| February 2020 | $22,130,928 | $1,359,395 | 6.10% | $613,679 |
| March 2020 | $8,768,769 | $818,605 | 9.30% | $394,229 |
| April 2020 | $3,774,668 | $262,393 | 7.00% | $126,090 |
| May 2020 | $7,180,450 | $424,947 | 5.90% | $187,743 |
| June 2020 | $8,138,772 | $691,103 | 8.50% | $313,156 |
| July 2020 | $11,623,208 | $1,268,688 | 10.90% | $602,156 |
| August 2020 | $27,496,050 | $1,367,516 | 5.00% | $607,909 |
| September 2020 | $41,373,620 | $2,290,364 | 5.50% | $990,884 |
| October 2020 | $47,055,486 | $4,203,875 | 8.90% | $2,001,597 |
| November 2020 | $46,523,447 | $4,770,459 | 10.30% | $2,323,843 |
| December 2020 | $51,649,897 | $4,537,653 | 8.80% | $2,137,406 |
| January 2021 | $59,795,433 | $4,197,029 | 7.00% | $1,886,506 |
| February 2021 | $50,995,349 | $1,787,930 | 3.50% | $769,387 |
| March 2021 | $55,800,096 | $4,254,732 | 7.60% | $1,925,260 |
| April 2021 | $46,700,713 | $3,302,340 | 7.10% | $1,480,847 |
| May 2021 | $42,367,380 | $3,115,230 | 7.40% | $1,433,622 |
| June 2021 | $39,268,179 | $3,869,773 | 9.90% | $1,797,118 |
| July 2021 | $36,724,166 | $3,062,545 | 8.30% | $1,468,578 |
| August 2021 | $36,319,740 | $1,594,235 | 4.40% | $723,016 |
| September 2021 | $68,123,241 | $4,420,924 | 6.50% | $1,887,441 |
| October 2021 | $98,191,306 | $5,409,196 | 5.50% | $2,560,651 |
| November 2021 | $83,168,805 | $6,172,580 | 7.40% | $2,926,238 |
| December 2021 | $86,444,639 | $2,641,046 | 3.10% | $1,140,937 |
| January 2022 | $99,540,825 | $8,029,427 | 8.10% | $3,875,782 |
| February 2022 | $70,866,282 | $1,019,098 | 1.40% | $458,353 |
| March 2022 | $78,811,441 | $5,283,248 | 6.70% | $2,506,863 |
| April 2022 | $73,149,079 | $3,436,446 | 4.70% | $1,514,431 |
| May 2022 | $76,199,157 | $5,720,931 | 7.50% | $2,637,599 |
| June 2022 | $53,567,757 | $4,819,197 | 9.00% | $2,216,742 |
| July 2022 | $42,653,152 | $4,476,145 | 10.50% | $2,115,043 |
| August 2022 | $43,372,007 | $4,199,240 | 9.70% | $1,927,109 |
| September 2022 | $78,237,751 | $7,358,206 | 9.40% | $3,249,389 |
| October 2022 | $91,345,018 | $9,078,684 | 9.90% | $4,482,595 |
| November 2022 | $93,090,530 | $4,963,601 | 5.30% | $2,176,120 |
| December 2022 | $90,894,581 | $8,330,161 | 9.20% | $3,809,372 |
| January 2023 | $97,163,182 | $12,317,536 | 12.70% | $5,604,577 |
| February 2023 | $86,999,460 | $7,112,918 | 8.20% | $3,238,963 |
| March 2023 | $103,390,747 | $4,828,031 | 4.70% | $2,126,879 |
| April 2023 | $65,083,883 | $6,670,481 | 10.20% | $2,997,574 |
| May 2023 | $52,137,614 | $7,042,469 | 13.50% | $3,078,160 |
| June 2023 | $39,307,739 | $4,372,429 | 11.10% | $1,944,484 |
| July 2023 | $36,929,342 | $3,511,866 | 9.50% | $1,551,250 |
| August 2023 | $38,765,940 | $3,344,211 | 8.60% | $1,454,175 |
| September 2023 | $66,848,811 | $6,178,362 | 9.20% | $2,687,999 |
| October 2023 | $77,838,540 | $8,781,951 | 11.30% | $3,806,755 |
| November 2023 | $78,491,464 | $8,228,924 | 10.50% | $3,593,339 |
| December 2023 | $78,750,681 | $7,652,564 | 9.7% | $3,377,024 |
| January 2024 | $73,301,559 | $9,820,633 | 13.4% | $4,452,042 |
| Total | $2,783,546,584 | $224,334,781 | 8.1% | $102,022,822 |
New Jersey Sports Betting
New Jersey’s sports betting market has experienced a huge amount of growth since 2018. The state has shown a great deal of resiliency by rebounding quickly from the pandemic. Stable hold, high handle, and revenue, all show that New Jersey’s position as a leading state for sports betting is well-deserved.
New Jersey Sports Betting Revenue – Highlights
- From June 2018 to August 2023, New Jersey’s handle was about $40 billion, which created roughly $2.97 billion in revenue.
- November 2021 recorded the highest monthly revenue at approximately $114.8 million. This was largely thanks to the 9% hold for the month and was caused by big bets going for operators over bettors. Other peaks happened in December 2022 during the winter World Cup and in March 2023 thanks largely to March Madness.
- Looking at the year-on-year numbers shows consistent growth in New Jersey’s sports betting market. Certain months like September and October usually post the highest handles, likely tied to the NFL and NBA seasons getting started.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| June 2018 | $16,409,619 | $3,458,668 | 21.10% | $337,078 |
| July 2018 | $40,682,237 | $3,845,879 | 9.50% | $377,015 |
| August 2018 | $95,634,048 | $9,197,827 | 9.60% | $1,038,072 |
| September 2018 | $183,948,404 | $23,775,812 | 12.90% | $2,883,518 |
| October 2018 | $260,711,301 | $11,686,117 | 4.50% | $1,536,283 |
| November 2018 | $330,748,563 | $21,243,867 | 6.40% | $2,743,339 |
| December 2018 | $319,173,548 | $20,814,223 | 6.50% | $2,685,956 |
| January 2019 | $385,279,662 | $18,777,582 | 4.90% | $2,530,315 |
| February 2019 | $320,368,087 | $12,732,738 | 4.00% | $1,981,251 |
| March 2019 | $372,451,342 | $31,669,387 | 8.50% | $4,020,740 |
| April 2019 | $313,719,562 | $21,215,748 | 6.80% | $2,826,247 |
| May 2019 | $318,940,677 | $15,536,384 | 4.90% | $2,137,480 |
| June 2019 | $273,222,975 | $9,701,926 | 3.60% | $1,254,851 |
| July 2019 | $251,371,272 | $17,884,790 | 7.10% | $2,364,941 |
| August 2019 | $293,594,862 | $25,210,342 | 8.60% | $3,316,918 |
| September 2019 | $445,563,503 | $37,955,171 | 8.50% | $5,028,107 |
| October 2019 | $487,924,504 | $46,393,537 | 9.50% | $6,241,133 |
| November 2019 | $562,675,543 | $32,895,546 | 5.80% | $4,457,889 |
| December 2019 | $557,786,161 | $29,424,884 | 5.30% | $4,108,749 |
| January 2020 | $540,113,452 | $53,561,626 | 9.90% | $7,261,470 |
| February 2020 | $494,814,107 | $17,000,928 | 3.40% | $2,461,238 |
| March 2020 | $181,908,529 | $13,181,101 | 7.20% | $1,897,069 |
| April 2020 | $54,593,092 | $2,634,050 | 4.80% | $390,347 |
| May 2020 | $117,821,281 | $9,912,062 | 8.40% | $1,427,101 |
| June 2020 | $165,014,553 | $12,639,282 | 7.70% | $1,811,121 |
| July 2020 | $315,118,805 | $29,551,986 | 9.40% | $4,041,649 |
| August 2020 | $667,979,150 | $39,507,182 | 5.90% | $5,413,671 |
| September 2020 | $748,037,246 | $45,127,763 | 6.00% | $6,169,023 |
| October 2020 | $801,196,298 | $58,403,209 | 7.30% | $8,166,439 |
| November 2020 | $930,367,718 | $50,410,546 | 5.40% | $6,851,928 |
| December 2020 | $995,567,756 | $66,301,567 | 6.70% | $9,091,303 |
| January 2021 | $957,353,407 | $82,209,293 | 8.60% | $11,341,542 |
| February 2021 | $742,849,328 | $46,222,846 | 6.20% | $6,367,031 |
| March 2021 | $857,732,524 | $60,624,773 | 7.10% | $8,495,171 |
| April 2021 | $746,810,150 | $54,711,189 | 7.30% | $7,452,186 |
| May 2021 | $813,517,681 | $52,826,372 | 6.50% | $7,405,859 |
| June 2021 | $765,665,331 | $71,134,768 | 9.30% | $9,620,806 |
| July 2021 | $576,917,625 | $54,800,465 | 9.50% | $7,591,288 |
| August 2021 | $664,675,859 | $52,023,081 | 7.80% | $7,329,603 |
| September 2021 | $1,011,114,311 | $82,280,645 | 8.10% | $11,212,782 |
| October 2021 | $1,303,198,342 | $84,311,810 | 6.50% | $11,661,062 |
| November 2021 | $1,258,189,436 | $114,788,726 | 9.10% | $16,038,097 |
| December 2021 | $1,229,561,891 | $59,047,673 | 4.80% | $8,221,034 |
| January 2022 | $1,348,860,083 | $60,195,902 | 4.50% | $8,774,160 |
| February 2022 | $985,568,313 | $30,873,369 | 3.10% | $4,678,782 |
| March 2022 | $1,120,904,954 | $66,404,370 | 5.90% | $9,068,529 |
| April 2022 | $926,946,780 | $50,345,808 | 5.40% | $7,055,550 |
| May 2022 | $766,412,352 | $61,594,016 | 8.00% | $8,773,059 |
| June 2022 | $633,184,861 | $39,245,213 | 6.20% | $5,404,026 |
| July 2022 | $531,888,333 | $45,007,343 | 8.50% | $6,386,976 |
| August 2022 | $546,774,395 | $65,272,385 | 11.90% | $9,138,137 |
| September 2022 | $866,719,412 | $97,981,122 | 11.30% | $13,352,085 |
| October 2022 | $1,060,154,535 | $77,907,041 | 7.30% | $10,853,450 |
| November 2022 | $1,101,622,966 | $80,426,931 | 7.30% | $11,497,129 |
| December 2022 | $1,055,556,994 | $87,701,471 | 8.30% | $12,444,016 |
| January 2023 | $1,082,233,033 | $72,330,439 | 6.70% | $10,345,867 |
| February 2023 | $847,405,611 | $54,621,220 | 6.40% | $7,808,167 |
| March 2023 | $1,025,779,225 | $93,039,999 | 9.10% | $13,083,369 |
| April 2023 | $833,980,925 | $72,304,036 | 8.70% | $10,118,510 |
| May 2023 | $778,854,263 | $82,165,404 | 10.50% | $11,496,202 |
| June 2023 | $591,081,897 | $66,356,838 | 11.20% | $9,218,174 |
| July 2023 | $587,019,749 | $61,013,433 | 10.40% | $8,467,678 |
| August 2023 | $725,849,450 | $96,041,019 | 13.20% | $13,546,446 |
| September 2023 | $1,299,016,274 | $111,145,385 | 8.60% | $15,658,931 |
| October 2023 | $1,293,468,722 | $92,258,295 | 7.10% | $12,951,849 |
| November 2023 | $1,623,072,184 | $95,889,050 | 5.90% | $13,508,016 |
| December 2023 | $1,284,558,956 | $109,516,484 | 8.50% | $15,314,259 |
| January 2024 | $1,719,170,088 | $170,758,334 | 9.9% | $24,346,725 |
| Total | $47,406,408,096 | $3,547,028,278 | 7.5% | $492,878,795 |
New Mexico Sports Betting
New Mexico Sports Betting Revenue – Not Available
New Mexico doesn’t currently have legalized online sports betting at the time of publication.
New York Sports Betting
New York State’s sports betting took off at the start of 2022, leading to impressive monthly performances for the rest of 2022 and 2023. With strong handles and revenues, New York has become a major player in the US sports betting landscape.
New York Sports Betting Revenue – Highlights
- From July 2019 to August 2023, New York State’s total sports betting handle totals over $27 billion, with the state benefitting by about $1.2 billion in taxes.
- January 2023’s handle has been the biggest so far at roughly $1.8 billion. March 2023 also managed about $1.8 billion. These were likely due to big events like the NFL Playoffs and March Madness.
- In 2023, the monthly handle has only dipped below £1 billion once, July’s number representing a lack of big events in the betting calendar. The state remains impressively consistent, showing a mature and stable market in the state.
New York Betting in 2024
- According to the New York State Gaming Commission, in January-February 2024 NY sports bettors placed over $211 million in bets (reported on a cash basis), with a handle just shy of $2 billion.
- In January alone operators generated over $211 million making it 12.3% higher than the previous record set in December 2023, at $188. million.
- Betting behavior in NYC has increased by 69.5% over the past decade from $2.8 billion to $4.8 billion. Looking at the more recent fiscal year 2022-2023, New York brought in $727.4 million in tax revenues, comprising of 3.6% of total state operating funds spending and it’s easily shaping up to surpass that in 2024.
- The main source of bets remains to be lottery receipts which has increased 25.3% to total $544 million in the last 12 years. However, sports betting is quickly growing to become a strong contributor and we expect sports betting to continue to grow in 2024.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| July 2019 | $1,365,470 | $349,468 | 25.60% | $34,947 |
| August 2019 | $4,647,958 | $828,152 | 17.80% | $82,815 |
| September 2019 | $13,060,944 | $2,283,864 | 17.50% | $228,386 |
| October 2019 | $14,852,615 | $2,233,227 | 15.00% | $223,323 |
| November 2019 | $17,161,294 | $1,308,295 | 7.60% | $130,830 |
| December 2019 | $16,872,506 | $780,417 | 4.60% | $78,042 |
| January 2020 | $17,169,303 | $1,943,351 | 11.30% | $194,335 |
| February 2020 | $12,872,999 | -$179,592 | -1.40% | -$17,959 |
| March 2020 | $4,186,276 | $99,514 | 2.40% | $9,951 |
| April 2020 | $0 | $0 | 0.00% | $0 |
| May 2020 | $0 | $0 | 0.00% | $0 |
| June 2020 | $0 | $0 | 0.00% | $0 |
| July 2020 | $0 | $0 | 0.00% | $0 |
| August 2020 | $0 | $0 | 0.00% | $0 |
| September 2020 | $10,092,604 | $1,403,544 | 13.90% | $140,354 |
| October 2020 | $18,107,259 | $2,623,464 | 14.50% | $262,346 |
| November 2020 | $17,096,321 | $2,619,676 | 15.30% | $261,968 |
| December 2020 | $18,584,384 | $2,258,771 | 12.20% | $225,877 |
| January 2021 | $20,942,309 | $3,569,855 | 17.00% | $356,986 |
| February 2021 | $14,018,760 | $1,153,275 | 8.20% | $115,327 |
| March 2021 | $16,529,015 | $1,845,684 | 11.20% | $184,568 |
| April 2021 | $13,537,156 | $1,322,623 | 9.80% | $132,262 |
| May 2021 | $14,145,742 | $1,590,113 | 11.20% | $159,011 |
| June 2021 | $14,239,819 | $1,858,642 | 13.10% | $185,864 |
| July 2021 | $9,338,107 | $1,273,621 | 13.60% | $127,362 |
| August 2021 | $9,153,603 | $1,080,570 | 11.80% | $108,057 |
| September 2021 | $17,355,781 | $3,187,045 | 18.40% | $318,704 |
| October 2021 | $25,567,296 | $1,718,615 | 6.70% | $171,861 |
| November 2021 | $21,519,094 | $3,956,491 | 18.40% | $395,649 |
| December 2021 | $21,129,981 | $764,615 | 3.60% | $76,461 |
| January 2022 | $1,686,263,898 | $123,810,126 | 7.30% | $63,277,984 |
| February 2022 | $1,534,078,892 | $82,149,599 | 5.40% | $41,995,722 |
| March 2022 | $1,644,789,691 | $114,956,204 | 7.00% | $58,351,263 |
| April 2022 | $1,396,791,941 | $104,535,898 | 7.50% | $53,151,656 |
| May 2022 | $1,269,862,570 | $110,418,075 | 8.70% | $56,055,234 |
| June 2022 | $1,056,694,011 | $72,441,501 | 6.90% | $36,936,704 |
| July 2022 | $804,966,381 | $73,880,416 | 9.20% | $37,449,978 |
| August 2022 | $877,407,454 | $100,760,793 | 11.50% | $50,912,979 |
| September 2022 | $1,265,553,629 | $145,039,867 | 11.50% | $73,270,471 |
| October 2022 | $1,555,051,006 | $146,845,937 | 9.40% | $74,403,028 |
| November 2022 | $1,564,144,672 | $149,244,901 | 9.50% | $75,695,441 |
| December 2022 | $1,632,469,011 | $142,969,451 | 8.80% | $72,422,558 |
| January 2023 | $1,799,048,366 | $149,886,749 | 8.30% | $76,253,908 |
| February 2023 | $1,474,299,932 | $108,470,835 | 7.40% | $55,242,679 |
| March 2023 | $1,792,885,345 | $163,582,116 | 9.10% | $83,117,519 |
| April 2023 | $1,550,014,914 | $139,265,045 | 9.00% | $70,842,936 |
| May 2023 | $1,363,794,316 | $152,643,135 | 11.20% | $77,571,580 |
| June 2023 | $1,170,989,676 | $103,956,640 | 8.90% | $52,965,055 |
| July 2023 | $966,555,215 | $105,510,883 | 10.90% | $53,655,339 |
| August 2023 | $1,118,163,959 | $99,241,793 | 8.90% | $50,310,977 |
| September 2023 | $1,767,913,849 | $166,834,226 | 9.40% | $84,563,885 |
| October 2023 | $2,017,133,484 | $167,327,704 | 8.30% | $84,927,344 |
| November 2023 | $2,122,331,713 | $151,291,345 | 7.10% | $76,999,480 |
| December 2023 | $2,053,736,710 | $189,287,146 | 9.20% | $96,131,764 |
| January 2024 | $1,965,468,151 | $211,706,706 | 10.8% | $107,887,645 |
| February 2024 | $1,779,072,192 | $131,315,621 | 7.4% | $67,016,794 |
| March 2024 | $1,854,674,065 | $152,553,937 | 8.2% | $76,369,312 |
| Total | $41,447,701,637 | $3,601,799,949 | 8.7% | $1,811,966,566 |
North Carolina Sports Betting
North Carolina Sports Betting Revenue – Not Available
North Carolina has taken steps to legalize online sports betting in the state, and officially became legal on 11th March 2024. The legislation was signed into law on 14th June 2023, for online betting apps to become legalized. Meanwhile retail sports betting was legalized back in 2019.
Initial reports have recorded that the betting activity within the first 48 hours doubled that of their neighbors Virginia. GeoComply SVP of compliance Lindsay Slader commented:
“It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year. The state’s well-structured approach to mobile sports betting safeguards consumers and opens up significant revenue streams.”
North Dakota Sports Betting
North Dakota Sports Betting Revenue – Not Available
Despite in-person betting at tribal casinos being legal, online sports betting is currently illegal in North Dakota.
Ohio Sports Betting
Ohio’s sports betting started well in January 2023, and it’s been steady since. While the handle has declined through the summer months, this is likely due to the lack of sports more than anything else. The fact they have consistent hold percentages indicates that the market is stable.
The state itself has benefitted greatly since sports betting was legalized, picking up $69 million in taxes.
Ohio Sports Betting Revenue, Handle, and Hold – Highlights
- Since legalization in January 2023, Ohio’s total sports betting handle is roughly $4.5 billion, and has generated a revenue of about $600 million.
- The average hold percentage for Ohio over this period was 13.8%.
- January 2023 has the highest handle of $1.09 billion, and the highest revenue of $209 million. This is likely due to the market opening at a big time in the NFL calendar.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| January 2023 | $1,090,962,383 | $209,588,460 | 19.20% | $20,960,774 |
| February 2023 | $635,426,359 | $80,948,666 | 12.70% | $8,105,312 |
| March 2023 | $732,913,170 | $94,818,023 | 12.90% | $9,485,427 |
| April 2023 | $515,184,616 | $63,250,102 | 12.30% | $6,332,871 |
| May 2023 | $441,711,971 | $57,826,959 | 13.10% | $5,787,967 |
| June 2023 | $357,571,919 | $32,623,897 | 9.10% | $3,277,310 |
| July 2023 | $328,811,653 | $37,273,216 | 11.30% | $7,466,419 |
| August 2023 | $375,076,377 | $40,786,643 | 10.90% | $8,175,341 |
| September 2023 | $686,244,860 | $81,639,905 | 11.90% | $16,375,764 |
| October 2023 | $742,945,929 | $80,385,098 | 10.80% | $16,148,132 |
| November 2023 | $861,170,611 | $67,855,418 | 7.9% | $13,650,718 |
| December 2023 | $826,100,577 | $87,235,462 | 10.6% | $17,486,186 |
| January 2024 | $806,149,042 | $113,367,294 | 14.1% | $22,697,038 |
| Total | $8,400,269,467 | $1,047,599,143 | 12.5% | $155,949,259 |
Oregon Sports Betting
Oregon has lots of growth in sports betting from 2019 to 2023, despite swings in monthly handles, revenues, and hold percentages. Overall, the state is trending towards becoming a lucrative market. The state has also benefitted from nearly $75 million in extra taxes as a result.
Oregon Sports Betting Revenue – Highlights
- Oregon’s total sports betting handle is about $1.5 billion, and operators have enjoyed a revenue of about $146.3 million.
- There has been a lot of growth since October 2019’s $5.6 million handle, with 2023 posting the biggest monthly handles so far.
- January 2023’s $62.3 million is the biggest month in terms of handle, with several months either side hitting the $50 million mark or higher. This was likely due to the 2022 FIFA World Cup combined with the NFL playoffs and Superbowl.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| October 2019 | $5,605,244 | $220,396 | 3.90% | $110,198 |
| November 2019 | $17,115,418 | $960,713 | 5.60% | $480,357 |
| December 2019 | $22,551,454 | $1,743,231 | 7.70% | $871,616 |
| January 2020 | $21,151,594 | $1,773,805 | 8.40% | $886,903 |
| February 2020 | $20,899,824 | $1,481,198 | 7.10% | $740,599 |
| March 2020 | $9,007,678 | $937,750 | 10.40% | $468,875 |
| April 2020 | $4,430,649 | $392,769 | 8.90% | $196,385 |
| May 2020 | $7,290,190 | $598,062 | 8.20% | $299,031 |
| June 2020 | $7,921,865 | $777,904 | 9.80% | $388,952 |
| July 2020 | $14,042,424 | $1,003,039 | 7.10% | $501,520 |
| August 2020 | $25,845,402 | $1,662,406 | 6.40% | $831,203 |
| September 2020 | $26,174,305 | $1,527,244 | 5.80% | $763,622 |
| October 2020 | $29,455,226 | $2,751,146 | 9.30% | $1,375,573 |
| November 2020 | $25,039,883 | $4,116,313 | 16.40% | $2,058,157 |
| December 2020 | $26,987,301 | $3,050,783 | 11.30% | $1,525,392 |
| January 2021 | $34,935,889 | $3,872,606 | 11.10% | $1,936,303 |
| February 2021 | $29,600,150 | $2,684,776 | 9.10% | $1,342,388 |
| March 2021 | $24,054,959 | $1,374,379 | 5.70% | $687,190 |
| April 2021 | $25,323,060 | $2,729,278 | 10.80% | $1,364,639 |
| May 2021 | $27,780,213 | $2,350,289 | 8.50% | $1,175,145 |
| June 2021 | $24,903,118 | $2,841,767 | 11.40% | $1,420,884 |
| July 2021 | $18,189,572 | $2,173,573 | 11.90% | $1,086,787 |
| August 2021 | $17,686,201 | $1,063,136 | 6.00% | $531,568 |
| September 2021 | $25,070,340 | $1,259,745 | 5.00% | $629,873 |
| October 2021 | $37,639,043 | $3,022,299 | 8.00% | $1,511,150 |
| November 2021 | $32,673,216 | $4,428,659 | 13.60% | $2,214,330 |
| December 2021 | $33,743,753 | $2,597,501 | 7.70% | $1,298,751 |
| January 2022 | $42,899,736 | $2,389,280 | 5.60% | $1,194,640 |
| February 2022 | $39,458,431 | $3,335,165 | 8.50% | $1,667,583 |
| March 2022 | $36,208,012 | $3,620,610 | 10.00% | $1,810,305 |
| April 2022 | $42,936,414 | $3,824,163 | 8.90% | $1,912,082 |
| May 2022 | $41,708,882 | $5,034,037 | 12.10% | $2,517,019 |
| June 2022 | $33,966,897 | $2,548,191 | 7.50% | $1,274,096 |
| July 2022 | $28,453,425 | $2,700,257 | 9.50% | $1,350,129 |
| August 2022 | $28,196,192 | $2,707,041 | 9.60% | $1,353,521 |
| September 2022 | $39,292,036 | $5,465,182 | 13.90% | $2,732,591 |
| October 2022 | $55,555,465 | $5,783,451 | 10.40% | $2,891,726 |
| November 2022 | $55,503,997 | $6,418,578 | 11.60% | $3,209,289 |
| December 2022 | $53,806,188 | $5,693,398 | 10.60% | $2,846,699 |
| January 2023 | $62,328,292 | $7,546,964 | 12.10% | $3,773,482 |
| February 2023 | $48,425,409 | $4,261,284 | 8.80% | $2,130,642 |
| March 2023 | $50,456,710 | $6,088,343 | 12.10% | $3,044,172 |
| April 2023 | $55,167,184 | $7,051,979 | 12.80% | $3,525,990 |
| May 2023 | $52,122,284 | $6,462,472 | 12.40% | $3,231,236 |
| June 2023 | $43,861,201 | $4,336,367 | 9.90% | $2,168,184 |
| July 2023 | $40,428,203 | $4,150,626 | 10.30% | $2,075,313 |
| August 2023 | $44,542,070 | $3,507,635 | 7.90% | $1,753,818 |
| September 2023 | $61,354,332 | $6,720,396 | 11.00% | $3,360,198 |
| October 2023 | $71,903,468 | $8,545,271 | 11.90% | $4,272,636 |
| November 2023 | $71,231,497 | $7,292,146 | 10.20% | $3,646,073 |
| December 2023 | $74,112,183 | $9,766,102 | 13.2% | $4,883,051 |
| Total | $1,769,036,479 | $178,643,705 | 10.00% | $89,321,853 |
Pennsylvania Sports Betting
Pennsylvania’s seen a lot of growth in its sports betting market from November 2018 to August 2023. This shows that the market has matured, with a stable betting environment as a result. The state has greatly benefited as a result, with over $470,000 raised in taxes.
Pennsylvania Sports Betting Revenue, Hold, and Taxes – Highlights
- November 2018 had an unusually high 36% hold. This was likely due to how young the market was combined with the number of tax-exempt customer winnings at the time.
- February 2022 posted a negative tax collection number, surprising for such a large market.
- 2022 recorded consistently high handles, which peaked in October 2022 with the start of the NFL and NBA seasons.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| November 2018 | $1,414,587 | $508,997 | 36.00% | $183,239 |
| December 2018 | $16,173,090 | $2,007,592 | 12.40% | $722,733 |
| January 2019 | $32,011,839 | $2,607,215 | 8.10% | $938,597 |
| February 2019 | $31,500,742 | $1,946,817 | 6.20% | $700,854 |
| March 2019 | $44,527,575 | $5,519,340 | 12.40% | $1,986,962 |
| April 2019 | $36,769,145 | $4,221,482 | 11.50% | $1,519,734 |
| May 2019 | $35,934,215 | $2,861,852 | 8.00% | $1,030,267 |
| June 2019 | $46,334,244 | $3,126,380 | 6.70% | $740,455 |
| July 2019 | $59,331,959 | $5,074,431 | 8.60% | $1,026,769 |
| August 2019 | $109,038,051 | $9,887,738 | 9.10% | $2,201,406 |
| September 2019 | $194,504,622 | $19,334,816 | 9.90% | $5,359,994 |
| October 2019 | $241,186,066 | $19,116,777 | 7.90% | $5,381,370 |
| November 2019 | $316,468,264 | $20,570,772 | 6.50% | $5,299,447 |
| December 2019 | $342,560,389 | $17,459,091 | 5.10% | $4,094,813 |
| January 2020 | $348,381,708 | $31,580,803 | 9.10% | $8,222,829 |
| February 2020 | $329,765,782 | $11,432,097 | 3.50% | $1,700,011 |
| March 2020 | $131,330,059 | $8,606,120 | 6.60% | $2,480,132 |
| April 2020 | $46,015,988 | $3,202,680 | 7.00% | $1,038,049 |
| May 2020 | $77,510,033 | $5,918,697 | 7.60% | $1,738,436 |
| June 2020 | $89,002,562 | $7,959,790 | 8.90% | $2,397,657 |
| July 2020 | $164,782,229 | $13,651,865 | 8.30% | $2,933,093 |
| August 2020 | $364,985,422 | $27,593,677 | 7.60% | $6,578,667 |
| September 2020 | $462,787,392 | $18,278,779 | 3.90% | $2,257,158 |
| October 2020 | $525,802,524 | $47,834,647 | 9.10% | $13,239,693 |
| November 2020 | $491,910,713 | $48,500,443 | 9.90% | $13,446,089 |
| December 2020 | $548,590,065 | $45,344,348 | 8.30% | $12,261,434 |
| January 2021 | $615,294,827 | $49,305,268 | 8.00% | $12,229,342 |
| February 2021 | $509,547,820 | $33,171,120 | 6.50% | $5,896,731 |
| March 2021 | $560,259,181 | $41,029,269 | 7.30% | $10,566,844 |
| April 2021 | $479,411,021 | $36,033,727 | 7.50% | $9,466,734 |
| May 2021 | $447,465,027 | $37,419,313 | 8.40% | $9,988,734 |
| June 2021 | $420,193,377 | $42,495,332 | 10.10% | $12,321,187 |
| July 2021 | $304,415,503 | $27,482,519 | 9.00% | $7,148,225 |
| August 2021 | $348,520,369 | $25,315,958 | 7.30% | $6,482,608 |
| September 2021 | $578,760,746 | $48,113,670 | 8.30% | $10,171,364 |
| October 2021 | $776,277,954 | $42,282,405 | 5.40% | $8,471,814 |
| November 2021 | $761,574,597 | $84,921,693 | 11.20% | $22,920,716 |
| December 2021 | $750,388,696 | $37,953,474 | 5.10% | $6,774,396 |
| January 2022 | $793,722,787 | $53,403,655 | 6.70% | $11,581,175 |
| February 2022 | $597,064,049 | $22,160,553 | 3.70% | -$159,425 |
| March 2022 | $714,976,578 | $48,512,264 | 6.80% | $10,944,209 |
| April 2022 | $572,817,741 | $49,083,331 | 8.60% | $12,120,141 |
| May 2022 | $493,350,519 | $47,828,553 | 9.70% | $12,603,546 |
| June 2022 | $393,494,222 | $22,889,554 | 5.80% | $4,597,039 |
| July 2022 | $336,507,932 | $33,226,517 | 9.90% | $9,160,020 |
| August 2022 | $363,046,972 | $42,185,145 | 11.60% | $12,223,188 |
| September 2022 | $645,242,681 | $75,319,093 | 11.70% | $18,078,109 |
| October 2022 | $797,124,732 | $61,519,576 | 7.70% | $14,585,047 |
| November 2022 | $789,230,672 | $69,997,949 | 8.90% | $19,037,133 |
| December 2022 | $754,849,873 | $71,238,770 | 9.40% | $19,664,738 |
| January 2023 | $772,289,648 | $57,982,069 | 7.50% | $14,130,145 |
| February 2023 | $599,529,429 | $62,214,502 | 10.40% | $15,562,864 |
| March 2023 | $723,545,806 | $66,465,774 | 9.20% | $18,232,293 |
| April 2023 | $572,152,803 | $51,786,464 | 9.10% | $13,333,004 |
| May 2023 | $495,585,360 | $57,533,744 | 11.60% | $14,797,653 |
| June 2023 | $373,171,415 | $33,866,725 | 9.10% | $8,301,627 |
| July 2023 | $338,450,263 | $39,406,353 | 11.60% | $11,552,323 |
| August 2023 | $393,007,298 | $30,614,565 | 7.80% | $7,929,470 |
| September 2023 | $726,259,712 | $66,109,574 | 9.10% | $13,187,910 |
| October 2023 | $829,002,595 | $73,631,197 | 8.90% | $17,334,020 |
| November 2023 | $934,130,152 | $49,147,979 | 5.30% | $4,638,252 |
| December 2023 | $925,626,447 | $98,111,216 | 10.6% | $26,107,175 |
| January 2024 | $858,106,230 | $97,672,796 | 11.4% | $25,169,556 |
| Total | $27,433,362,951 | $2,271,653,133 | 8.3% | $556,656,515 |
Rhode Island Sports Betting
Rhode Island’s sports betting has grown substantialy since launch in November 2018. The state has benefited as a result, with around $80 million collected in taxes. Despite some fluctuations in monthly handles, revenues, and hold percentages, the betting industry in Rhode Island looks very healthy.
Rhode Island Sports Betting Revenue – Highlights
- February 2019 had a negative hold of -4.3%, which could be because the heavily favored New England Patriots won the Super Bowl that month.
- The first few months, especially January and February 2019, showed relatively low or even minus holds. This was likely due to the types of promotions on offer combined with Super Bowl betting. As the industry matured in Rhode Island, holds started stabilizing.
- Despite posting impressive handles each month, there’s a clear pattern in the numbers as it matches the NFL schedule. The biggest betting months are consistently October to February in the Ocean State. This has all added up to an impressive total handle of over $1.75 billion.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| November 2018 | $682,714 | $72,997 | 10.70% | $37,228 |
| December 2018 | $13,087,999 | $957,913 | 7.30% | $488,536 |
| January 2019 | $19,051,125 | $159,978 | 0.80% | $81,589 |
| February 2019 | $20,686,618 | -$890,623 | -4.30% | -$454,218 |
| March 2019 | $23,582,716 | $1,548,230 | 6.60% | $789,597 |
| April 2019 | $16,859,818 | $1,970,110 | 11.70% | $1,004,756 |
| May 2019 | $18,900,152 | $899,165 | 4.80% | $458,574 |
| June 2019 | $14,736,667 | $2,149,999 | 14.60% | $1,096,499 |
| July 2019 | $8,321,947 | $827,579 | 9.90% | $422,065 |
| August 2019 | $10,060,066 | $851,788 | 8.50% | $434,412 |
| September 2019 | $22,195,789 | $2,516,059 | 11.30% | $1,283,190 |
| October 2019 | $28,281,025 | $2,457,137 | 8.70% | $1,253,140 |
| November 2019 | $31,465,062 | $2,745,517 | 8.70% | $1,400,214 |
| December 2019 | $31,670,511 | $2,571,755 | 8.10% | $1,311,595 |
| January 2020 | $26,939,692 | $3,279,241 | 12.20% | $1,672,413 |
| February 2020 | $28,147,862 | $2,323,432 | 8.30% | $1,184,950 |
| March 2020 | $8,949,157 | $841,767 | 9.40% | $429,301 |
| April 2020 | $591,377 | $27,381 | 4.60% | $13,964 |
| May 2020 | $1,533,114 | $163,472 | 10.70% | $83,371 |
| June 2020 | $2,032,803 | $101,328 | 5.00% | $51,677 |
| July 2020 | $6,738,626 | $351,425 | 5.20% | $179,227 |
| August 2020 | $23,116,965 | $1,423,391 | 6.20% | $725,929 |
| September 2020 | $31,293,150 | $2,352,788 | 7.50% | $1,199,922 |
| October 2020 | $34,704,413 | $4,388,841 | 12.60% | $2,238,309 |
| November 2020 | $35,098,445 | $6,281,321 | 17.90% | $3,203,474 |
| December 2020 | $22,770,472 | $2,533,090 | 11.10% | $1,291,876 |
| January 2021 | $39,817,327 | $3,717,199 | 9.30% | $1,895,771 |
| February 2021 | $34,110,104 | $1,555,824 | 4.60% | $793,470 |
| March 2021 | $38,583,919 | $3,976,140 | 10.30% | $2,027,831 |
| April 2021 | $29,040,966 | $3,168,532 | 10.90% | $1,615,951 |
| May 2021 | $28,252,139 | $2,772,910 | 9.80% | $1,414,184 |
| June 2021 | $29,468,571 | $3,666,029 | 12.40% | $1,869,675 |
| July 2021 | $22,095,960 | $3,263,276 | 14.80% | $1,664,271 |
| August 2021 | $24,042,834 | $1,129,859 | 4.70% | $576,228 |
| September 2021 | $41,203,997 | $4,012,295 | 9.70% | $2,046,270 |
| October 2021 | $60,158,844 | $3,608,570 | 6.00% | $1,840,371 |
| November 2021 | $52,747,831 | $6,703,144 | 12.70% | $3,418,603 |
| December 2021 | $54,935,498 | $1,177,717 | 2.10% | $600,636 |
| January 2022 | $58,614,487 | $5,228,277 | 8.90% | $2,666,421 |
| February 2022 | $42,143,261 | $3,566,393 | 8.50% | $1,818,860 |
| March 2022 | $45,766,958 | $3,738,223 | 8.20% | $1,906,494 |
| April 2022 | $40,186,632 | $2,632,134 | 6.50% | $1,342,388 |
| May 2022 | $41,103,489 | $2,336,733 | 5.70% | $1,191,734 |
| June 2022 | $34,229,823 | $2,352,896 | 6.90% | $1,199,977 |
| July 2022 | $25,208,531 | $2,872,076 | 11.40% | $1,464,759 |
| August 2022 | $27,744,694 | $3,000,421 | 10.80% | $1,530,215 |
| September 2022 | $41,670,257 | $6,361,823 | 15.30% | $3,244,530 |
| October 2022 | $55,527,937 | $6,156,914 | 11.10% | $3,140,026 |
| November 2022 | $61,208,319 | $4,862,856 | 7.90% | $2,480,057 |
| December 2022 | $59,205,426 | $6,189,316 | 10.50% | $3,156,551 |
| January 2023 | $62,317,384 | $5,164,799 | 8.30% | $2,634,047 |
| February 2023 | $43,065,996 | $3,612,113 | 8.40% | $1,842,178 |
| March 2023 | $41,546,643 | $3,968,567 | 9.60% | $2,023,969 |
| April 2023 | $37,496,094 | $3,009,679 | 8.00% | $1,534,936 |
| May 2023 | $30,754,497 | $3,898,405 | 12.70% | $1,988,187 |
| June 2023 | $23,723,659 | $1,783,530 | 7.50% | $909,600 |
| July 2023 | $20,238,844 | $1,896,983 | 9.40% | $967,461 |
| August 2023 | $22,472,561 | $1,365,807 | 6.10% | $696,562 |
| September 2023 | $37,645,368 | $3,472,089 | 9.20% | $1,770,765 |
| October 2023 | $45,840,376 | $4,545,634 | 9.90% | $2,318,273 |
| November 2023 | $48,277,794 | $3,413,200 | 7.1% | $1,740,732 |
| December 2023 | $47,904,210 | $4,147,010 | 8.7% | $2,114,975 |
| January 2024 | $44,808,686 | $4,999,921 | 11.2% | $2,549,960 |
| Total | $1,974,658,201 | $176,232,375 | 8.9% | $89,878,511 |
South Dakota Sports Betting
The sports betting landscape in South Dakota shows steady activity with some month-to-month fluctuations. The state has benefitted from nearly $160,000 worth of tax collections, with operators recording over $1,750,000 in revenue.
South Dakota Sports Betting Revenue – Highlights
- Total sports betting handle from September 2021 to August 2023 in South Dakota was just over $14 million.
- June 2023 had a negative hold of -2.2%, which means bettors were particularly successful at the start of the year.
- March 2023 recorded the highest handle so far in South Dakota, at just over $920k. This is probably due to betting on the NCAA March Madness tournament.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2021 | $443,365 | $71,320 | 16.10% | $6,419 |
| October 2021 | $815,037 | $98,037 | 12.00% | $8,823 |
| November 2021 | $717,775 | $74,919 | 10.40% | $6,743 |
| December 2021 | $675,312 | $10,306 | 1.50% | $928 |
| January 2022 | $835,252 | $82,291 | 9.90% | $7,406 |
| February 2022 | $685,631 | $81,367 | 11.90% | $7,323 |
| March 2022 | $975,347 | $97,643 | 10.00% | $8,788 |
| April 2022 | $368,517 | $86,938 | 23.60% | $7,824 |
| May 2022 | $307,995 | $25,102 | 8.20% | $2,259 |
| June 2022 | $301,217 | $27,869 | 9.30% | $2,508 |
| July 2022 | $259,180 | $16,143 | 6.20% | $1,453 |
| August 2022 | $266,673 | $59,053 | 22.10% | $5,315 |
| September 2022 | $711,577 | $211,612 | 29.70% | $19,045 |
| October 2022 | $862,170 | $131,749 | 15.30% | $11,857 |
| November 2022 | $861,660 | $75,856 | 8.80% | $6,827 |
| December 2022 | $757,610 | $151,374 | 20.00% | $13,624 |
| January 2023 | $910,312 | $123,365 | 13.60% | $11,103 |
| February 2023 | $717,137 | $82,853 | 11.60% | $7,457 |
| March 2023 | $923,904 | $161,368 | 17.50% | $14,523 |
| April 2023 | $493,045 | $22,503 | 4.60% | $2,025 |
| May 2023 | $528,562 | $22,536 | 4.30% | $2,028 |
| June 2023 | $417,025 | -$9,254 | -2.20% | -$833 |
| July 2023 | $413,368 | $20,087 | 4.90% | $1,808 |
| August 2023 | $518,052 | $37,453 | 7.20% | $3,371 |
| September 2023 | $979,694 | $170,129 | 17.40% | $15,312 |
| October 2023 | $1,021,660 | $174,906 | 17.10% | $15,742 |
| November 2023 | $967,994 | $49,887 | 5.20% | $4,490 |
| December 2023 | $1,143,938 | $154,098 | 13.5% | $13,869 |
| January 2024 | $868,815 | $94,756 | 10.9% | $8,528 |
| Total | $19,747,823 | $2,230,780 | 11.3% | $200,770 |
Tennessee Sports Betting
Tennessee has seen a lot of growth in its sports betting market since legalization. They’ve had an average hold percentage of 9.8%, which is a decent amount. They’ve benefitted from taxes generated from the industry by almost $162 million.
Tennessee Sports Betting Revenue, Handle, and Taxes – Highlights
- From November 2020 to August 2023, Tennessee’s total sports betting handle reached over $9.3 billion. Operators have generated a revenue of over $900 million in the state.
- A key point to note when looking at the numbers for Tennessee is that they initially taxed 20% of gross gaming revenue. This changed to 1.85% of the total handle as of July 2023.
- November and December 2022 had two of the highest months of betting handle at about $440 million each. This was likely due to the Soccer World Cup taking place at the end of the year. This would have been boosted by the NFL and NBA seasons as well.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| November 2020 | $131,444,523 | $13,224,908 | 10.10% | $2,363,918 |
| December 2020 | $180,900,000 | $13,900,000 | 7.70% | $3,080,000 |
| January 2021 | $211,300,000 | $20,900,000 | 9.90% | $4,300,000 |
| February 2021 | $176,300,000 | $13,000,000 | 7.40% | $2,600,000 |
| March 2021 | $205,900,000 | $18,000,000 | 8.70% | $3,200,000 |
| April 2021 | $172,400,000 | $15,500,000 | 9.00% | $2,800,000 |
| May 2021 | $160,900,000 | $15,400,000 | 9.60% | $2,700,000 |
| June 2021 | $174,500,000 | $18,300,000 | 10.50% | $3,200,000 |
| July 2021 | $144,559,000 | $15,172,000 | 10.50% | $2,600,000 |
| August 2021 | $144,500,000 | $13,200,000 | 9.10% | $2,000,000 |
| September 2021 | $257,300,000 | $25,600,000 | 9.90% | $3,300,000 |
| October 2021 | $375,300,000 | $23,300,000 | 6.20% | $3,400,000 |
| November 2021 | $365,700,000 | $36,900,000 | 10.10% | $5,900,000 |
| December 2021 | $341,800,000 | $24,600,000 | 7.20% | $3,300,000 |
| January 2022 | $386,059,756 | $36,249,453 | 9.40% | $5,817,504 |
| February 2022 | $313,298,305 | $20,945,018 | 6.70% | $3,026,574 |
| March 2022 | $370,230,004 | $26,520,468 | 7.20% | $4,550,242 |
| April 2022 | $292,796,670 | $27,142,800 | 9.30% | $4,649,129 |
| May 2022 | $261,582,468 | $27,315,928 | 10.40% | $4,766,458 |
| June 2022 | $215,774,186 | $15,855,649 | 7.30% | $2,559,649 |
| July 2022 | $182,769,323 | $18,174,226 | 9.90% | $3,668,804 |
| August 2022 | $205,863,860 | $27,200,883 | 13.20% | $4,875,847 |
| September 2022 | $336,933,437 | $46,285,200 | 13.70% | $8,716,963 |
| October 2022 | $405,337,575 | $37,295,159 | 9.20% | $6,989,818 |
| November 2022 | $439,456,908 | $47,248,222 | 10.80% | $9,030,021 |
| December 2022 | $440,445,414 | $49,176,885 | 11.20% | $9,401,952 |
| January 2023 | $410,773,606 | $41,392,586 | 10.10% | $7,269,600 |
| February 2023 | $327,326,201 | $33,943,931 | 10.40% | $6,380,150 |
| March 2023 | $392,667,304 | $45,506,700 | 11.60% | $8,752,898 |
| April 2023 | $318,416,216 | $34,257,592 | 10.80% | $6,435,653 |
| May 2023 | $279,794,996 | $37,097,192 | 13.30% | $7,145,077 |
| June 2023 | $230,337,515 | $25,526,655 | 11.10% | $4,635,761 |
| July 2023 | $214,114,055 | $21,411,406 | 10.00% | $3,951,411 |
| August 2023 | $243,456,822 | $24,345,682 | 10.00% | $4,462,942 |
| September 2023 | $418,063,447 | $41,806,345 | 10.00% | $7,715,705 |
| October 2023 | $445,192,913 | $44,519,291 | 10.00% | $8,190,461 |
| November 2023 | $517,141,377 | $51,714,138 | 10.00% | $9,513,707 |
| December 2023 | $495,067,783 | $49,506,778 | 10.00% | $9,104,148 |
| January 2024 | $465,810,583 | $46,581,058 | 10.00% | $8,596,621 |
| Total | $11,651,514,247 | $1,144,016,153 | 9.8% | $204,951,013 |
Virginia Sports Betting
Virginia’s sports betting industry has had impressive growth since its launch in January 2021. The state’s consistent hold percentage shows a stable market for operators. The good profit margins for sportsbooks meant an increase of $115 million in taxes for the Old Dominion as a result.
Virginia Sports Betting Revenue – Highlights
- February 2021 posted the lowest hold percentage at 4.6%, while September 2022 and August 2022 saw the highest holds at 13.1% and 13.0% respectively.
- The handle has grown steadily since launch, with the handle consistently exceeding $400 million in most months from October 2021 onward.
- October 2022 saw the highest betting handle at over $528 million. November 2022 saw the highest revenues at around $57.5 million. This is probably due to the start of the NFL and NBA seasons in those months.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| January 2021 | $58,896,564 | $3,586,077 | 6.10% | $39,710 |
| February 2021 | $265,778,306 | $12,238,780 | 4.60% | $300,594 |
| March 2021 | $304,066,245 | $26,573,877 | 8.70% | $1,183,488 |
| April 2021 | $236,432,524 | $19,442,317 | 8.20% | $1,652,147 |
| May 2021 | $226,963,573 | $23,173,549 | 10.20% | $2,381,116 |
| June 2021 | $234,943,435 | $22,006,296 | 9.40% | $2,273,995 |
| July 2021 | $161,901,955 | $19,965,556 | 12.30% | $1,864,433 |
| August 2021 | $182,418,252 | $17,967,427 | 9.80% | $1,378,540 |
| September 2021 | $293,851,531 | $30,929,243 | 10.50% | $1,557,499 |
| October 2021 | $427,320,306 | $30,160,385 | 7.10% | $1,746,204 |
| November 2021 | $402,621,132 | $48,337,037 | 12.00% | $4,233,167 |
| December 2021 | $426,596,891 | $31,515,015 | 7.40% | $1,729,130 |
| January 2022 | $485,544,417 | $39,050,067 | 8.00% | $2,876,609 |
| February 2022 | $401,889,135 | $27,498,133 | 6.80% | $1,406,280 |
| March 2022 | $469,484,017 | $33,700,016 | 7.20% | $2,116,289 |
| April 2022 | $399,478,366 | $36,275,264 | 9.10% | $3,040,327 |
| May 2022 | $351,452,931 | $42,537,524 | 12.10% | $3,896,270 |
| June 2022 | $295,235,271 | $25,965,182 | 8.80% | $1,871,961 |
| July 2022 | $266,001,583 | $26,024,408 | 9.80% | $3,060,304 |
| August 2022 | $284,671,331 | $36,978,897 | 13.00% | $4,474,132 |
| September 2022 | $411,273,323 | $53,821,382 | 13.10% | $7,257,403 |
| October 2022 | $528,029,938 | $51,164,199 | 9.70% | $6,956,643 |
| November 2022 | $518,818,987 | $57,531,255 | 11.10% | $7,782,639 |
| December 2022 | $503,075,150 | $50,687,278 | 10.10% | $7,026,829 |
| January 2023 | $510,982,033 | $49,393,812 | 9.70% | $6,368,899 |
| February 2023 | $433,807,108 | $39,766,908 | 9.20% | $4,682,125 |
| March 2023 | $511,614,541 | $55,258,910 | 10.80% | $7,413,213 |
| April 2023 | $425,982,859 | $45,121,878 | 10.60% | $5,799,965 |
| May 2023 | $403,719,160 | $48,144,550 | 11.90% | $6,285,305 |
| June 2023 | $325,455,052 | $32,668,024 | 10.00% | $3,939,701 |
| July 2023 | $293,611,789 | $32,471,396 | 11.10% | $4,115,218 |
| August 2023 | $319,005,942 | $32,359,888 | 10.10% | $4,155,221 |
| September 2023 | $520,304,187 | $54,081,414 | 10.40% | $7,040,532 |
| October 2023 | $571,354,817 | $63,996,952 | 11.20% | $8,550,197 |
| November 2023 | $638,831,057 | $43,003,244 | 6.7% | $5,480,552 |
| December 2023 | $633,181,758 | $63,607,011 | 10% | $8,465,776 |
| January 2024 | $652,879,750 | $74,337,290 | 11.4% | $9,932,122 |
| Total | $14,377,475,216 | $1,401,340,441 | 9.7% | $154,334,533 |
Washington Sports Betting
Despite entering the game later than states like Nevada and New Jersey, the nation’s capital is making its mark on the US sports betting scene. With a relatively stable hold, impressive amounts of revenue, and a steady tax flow, there’s plenty to be optimistic about.
Washington DC (District of Columbia) Sports Betting Revenue – Highlights
- There has been consistency in the District’s revenue since climbing above the $1 million mark in August 2020. Only 3 months have seen revenue under that mark since.
- Betting tends to slow down in July and August, with a big drop in 2023. This is likely due to the offseason in leagues like the NFL, NBA, and NHL. It also coincides with the All-Star Break in the MLB.
- Washington D.C. has benefitted from legalizing gambling to the the tune of almost $19 million since negative tax revenue in May 2020.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| May 2020 | $9,723 | -$240 | -2.50% | -$138 |
| June 2020 | $223,730 | $36,985 | 16.50% | $21,267 |
| July 2020 | $743,330 | $144,019 | 19.40% | $81,985 |
| August 2020 | $11,262,442 | $1,703,416 | 15.10% | $302,459 |
| September 2020 | $15,455,160 | $1,804,299 | 11.70% | $417,406 |
| October 2020 | $18,491,984 | $3,484,946 | 18.80% | $712,904 |
| November 2020 | $17,600,534 | $3,611,200 | 20.50% | $780,392 |
| December 2020 | $16,696,995 | $2,708,653 | 16.20% | $654,293 |
| January 2021 | $15,746,168 | $2,805,493 | 17.80% | $714,407 |
| February 2021 | $15,303,079 | $1,333,019 | 8.70% | $418,447 |
| March 2021 | $15,275,215 | $1,867,034 | 12.20% | $526,444 |
| April 2021 | $10,746,937 | $2,087,240 | 19.40% | $463,216 |
| May 2021 | $13,772,411 | $2,008,091 | 14.60% | $503,584 |
| June 2021 | $19,518,408 | $2,191,486 | 11.20% | $465,194 |
| July 2021 | $12,808,239 | $1,801,748 | 14.10% | $385,720 |
| August 2021 | $12,445,312 | $1,492,901 | 12.00% | $294,946 |
| September 2021 | $20,706,483 | $3,883,674 | 18.80% | $671,465 |
| October 2021 | $26,332,228 | $1,570,660 | 6.00% | $460,630 |
| November 2021 | $21,419,454 | $4,434,922 | 20.70% | $954,592 |
| December 2021 | $19,220,227 | $1,398,706 | 7.30% | $456,087 |
| January 2022 | $18,627,789 | $1,962,256 | 10.50% | $648,862 |
| February 2022 | $19,072,856 | $740,542 | 3.90% | $283,248 |
| March 2022 | $20,432,718 | $1,365,996 | 6.70% | $379,705 |
| April 2022 | $18,379,904 | $1,431,275 | 7.80% | $429,384 |
| May 2022 | $17,234,140 | $2,016,709 | 11.70% | $545,785 |
| June 2022 | $13,760,754 | $999,645 | 7.30% | $311,166 |
| July 2022 | $11,346,178 | $1,166,210 | 10.30% | $333,989 |
| August 2022 | $13,147,645 | $1,832,685 | 13.90% | $448,312 |
| September 2022 | $19,361,047 | $3,530,497 | 18.20% | $847,067 |
| October 2022 | $24,801,500 | $3,111,718 | 12.50% | $709,273 |
| November 2022 | $21,401,682 | $2,641,693 | 12.30% | $664,840 |
| December 2022 | $18,665,909 | $2,410,628 | 12.90% | $619,230 |
| January 2023 | $20,115,254 | $1,494,441 | 7.40% | $559,237 |
| February 2023 | $14,634,828 | $1,193,982 | 8.20% | $416,878 |
| March 2023 | $18,091,768 | $2,275,690 | 12.60% | $636,507 |
| April 2023 | $14,052,054 | $1,418,907 | 10.10% | $484,145 |
| May 2023 | $12,532,899 | $2,024,803 | 16.20% | $540,339 |
| June 2023 | $11,150,333 | $484,844 | 4.30% | $119,300 |
| July 2023 | $7,722,843 | $1,409,549 | 18.30% | $363,715 |
| August 2023 | $8,111,021 | $1,048,451 | 12.90% | $299,402 |
| September 2023 | $14,480,473 | $1,934,261 | 13.40% | $472,822 |
| October 2023 | $16,435,889 | $2,001,445 | 12.20% | $515,342 |
| November 2023 | $17,128,831 | $1,227,995 | 7.20% | $345,792 |
| December 2023 | $15,315,497 | $2,533,959 | 16.5% | $651,735 |
| January 2024 | $15,957,167 | $1,933,439 | 12.1% | $521,114 |
| Total | $685,739,035 | $84,559,874 | 12.3% | $21,455,402 |
West Virginia Sports Betting
West Virginia’s sports betting market has shown impressive growth since launching in August 2018. Despite ups and downs in betting handle and revenue, the trend for the state has generally been toward growth. West Virginia has collected nearly $17.5 million in extra taxes since August 2018.
West Virginia Sports Betting Revenue – Highlights
- November 2021 had the highest betting handle at just over $88 million, which is probably due to betting on the NBA and NFL.
- The hold percentage has remained relatively consistent since the first few months, typically ranging from 6% to 12%.
- On average, West Virginia sportsbook operators enjoyed about 8.4% of the total betting handle as revenue.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| August 2018 | $305,192 | $196,945 | 64.50% | $19,695 |
| September 2018 | $7,333,626 | $1,967,318 | 26.80% | $196,732 |
| October 2018 | $11,147,951 | $854,974 | 7.70% | $85,497 |
| November 2018 | $13,826,231 | $1,207,363 | 8.70% | $120,736 |
| December 2018 | $15,183,234 | $2,396,963 | 15.80% | $239,696 |
| January 2019 | $19,740,035 | $1,400,944 | 7.10% | $140,094 |
| February 2019 | $16,845,338 | $228,286 | 1.40% | $22,829 |
| March 2019 | $15,088,168 | $1,818,636 | 12.10% | $183,773 |
| April 2019 | $10,978,040 | $699,185 | 6.40% | $69,918 |
| May 2019 | $9,429,073 | $719,098 | 7.60% | $71,910 |
| June 2019 | $7,925,849 | $425,216 | 5.40% | $42,522 |
| July 2019 | $6,944,761 | $694,934 | 10.00% | $69,493 |
| August 2019 | $11,563,468 | $1,536,864 | 13.30% | $153,686 |
| September 2019 | $27,508,921 | $4,119,457 | 15.00% | $411,946 |
| October 2019 | $32,833,393 | $3,197,821 | 9.70% | $319,782 |
| November 2019 | $35,268,743 | $1,884,367 | 5.30% | $188,437 |
| December 2019 | $34,159,637 | $2,709,585 | 7.90% | $270,959 |
| January 2020 | $39,140,547 | $3,035,253 | 7.80% | $303,525 |
| February 2020 | $40,914,714 | -$397,120 | -1.00% | -$39,712 |
| March 2020 | $14,901,577 | $1,118,217 | 7.50% | $111,822 |
| April 2020 | $2,465,138 | $129,540 | 5.30% | $12,954 |
| May 2020 | $5,466,523 | $576,709 | 10.50% | $57,671 |
| June 2020 | $6,147,910 | $541,070 | 8.80% | $54,107 |
| July 2020 | $15,072,228 | $1,522,249 | 10.10% | $152,225 |
| August 2020 | $45,185,356 | $2,294,328 | 5.10% | $229,433 |
| September 2020 | $67,610,819 | $4,129,595 | 6.10% | $412,960 |
| October 2020 | $49,997,860 | $3,950,324 | 7.90% | $395,032 |
| November 2020 | $52,271,787 | $4,886,566 | 9.30% | $488,657 |
| December 2020 | $61,566,896 | $5,499,992 | 8.90% | $549,999 |
| January 2021 | $57,103,775 | $4,891,256 | 8.60% | $489,126 |
| February 2021 | $38,015,260 | $1,024,272 | 2.70% | $102,427 |
| March 2021 | $45,917,290 | $4,311,297 | 9.40% | $431,130 |
| April 2021 | $28,995,033 | $2,241,951 | 7.70% | $224,195 |
| May 2021 | $28,264,642 | $2,928,370 | 10.40% | $292,837 |
| June 2021 | $28,054,400 | $3,318,278 | 11.80% | $331,828 |
| July 2021 | $21,290,275 | $2,295,743 | 10.80% | $229,574 |
| August 2021 | $26,131,251 | $2,685,271 | 10.30% | $268,527 |
| September 2021 | $52,193,627 | $6,128,575 | 11.70% | $612,858 |
| October 2021 | $68,074,615 | $3,160,579 | 4.60% | $316,058 |
| November 2021 | $88,190,136 | $6,983,136 | 7.90% | $698,314 |
| December 2021 | $64,710,557 | $5,159,229 | 8.00% | $515,923 |
| January 2022 | $65,125,042 | $4,528,101 | 7.00% | $452,810 |
| February 2022 | $48,476,816 | $1,904,490 | 3.90% | $190,449 |
| March 2022 | $55,672,438 | $3,117,541 | 5.60% | $311,754 |
| April 2022 | $38,655,331 | $3,067,780 | 7.90% | $306,778 |
| May 2022 | $40,439,679 | $3,748,227 | 9.30% | $374,823 |
| June 2022 | $30,145,409 | $2,066,930 | 6.90% | $206,693 |
| July 2022 | $25,769,135 | $2,706,044 | 10.50% | $270,604 |
| August 2022 | $28,553,358 | $3,455,974 | 12.10% | $345,597 |
| September 2022 | $49,859,709 | $7,217,919 | 14.50% | $721,792 |
| October 2022 | $56,968,266 | $5,427,011 | 9.50% | $542,701 |
| November 2022 | $72,947,153 | $5,521,747 | 7.60% | $552,175 |
| December 2022 | $58,705,514 | $8,060,617 | 13.70% | $806,062 |
| January 2023 | $49,384,637 | $4,019,360 | 8.10% | $401,936 |
| February 2023 | $39,740,983 | $2,726,640 | 6.90% | $272,664 |
| March 2023 | $45,538,667 | $4,469,377 | 9.80% | $446,938 |
| April 2023 | $40,827,987 | $3,107,176 | 7.60% | $310,718 |
| May 2023 | $35,140,816 | $3,849,531 | 11.00% | $384,953 |
| June 2023 | $23,695,286 | $2,053,727 | 8.70% | $205,373 |
| July 2023 | $22,301,062 | $2,719,702 | 12.20% | $271,970 |
| August 2023 | $23,959,192 | $2,595,871 | 10.80% | $259,587 |
| September 2023 | $44,472,879 | $4,333,428 | 9.70% | $433,343 |
| October 2023 | $47,737,777 | $6,376,269 | 13.40% | $637,627 |
| November 2023 | $56,419,080 | $5,155,090 | 9.10% | $515,509 |
| December 2023 | $54,009,052 | $6,317,472 | 11.7% | $631,747 |
| January 2024 | $50,562,352 | $6,472,412 | 12.8% | $647,241 |
| Total | $2,328,871,492 | $203,491,073 | 8.7% | $20,351,017 |
Wisconsin Sports Betting
Wisconsin Sports Betting Revenue – Not Available
Wisconsin doesn’t currently offer online sports betting in the state, despite in-person betting at tribal casinos being approved.
Wyoming Sports Betting
Wyoming’s sports betting market has shown steady growth since starting in September 2021. The state has established a well-developed and stable sports betting industry. As a result, they’ve collected $1.5 million in taxes and created nearly $29 million in revenue for operators.
Wyoming Sports Betting Revenue – Highlights
- From September 2021 to August 2023, Wyoming reported a sports betting handle of just under $280 million, which shows there’s a solid base of bettors in the state.
- September 2021 was a strong start for the industry with hold percentage of 15.3%. The negative tax collection of -$12,398 was likely due to the types of promotions being run for new customers.
- The highs and lows in the handle correspond closely to the sports calendar, with bigger months for the handle when the NFL and NBA are in full swing.
| Month | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|
| September 2021 | $6,242,469 | $954,416 | 15.30% | -$12,398 |
| October 2021 | $10,847,657 | $881,200 | 8.10% | $16,021 |
| November 2021 | $10,973,008 | $1,363,696 | 12.40% | $86,499 |
| December 2021 | $12,285,012 | $813,504 | 6.60% | $21,792 |
| January 2022 | $13,977,632 | $1,098,460 | 7.90% | $46,565 |
| February 2022 | $10,301,603 | $722,631 | 7.00% | $18,824 |
| March 2022 | $12,704,938 | $1,101,236 | 8.70% | $44,806 |
| April 2022 | $9,995,920 | $1,007,796 | 10.10% | $51,187 |
| May 2022 | $9,340,833 | $1,011,714 | 10.80% | $53,163 |
| June 2022 | $7,322,852 | $673,269 | 9.20% | $38,036 |
| July 2022 | $7,246,352 | $680,740 | 9.40% | $38,365 |
| August 2022 | $10,990,904 | $1,237,815 | 11.30% | $85,672 |
| September 2022 | $13,575,173 | $1,932,519 | 14.20% | $115,550 |
| October 2022 | $17,275,317 | $2,039,620 | 11.80% | $115,893 |
| November 2022 | $16,702,867 | $1,478,158 | 8.80% | $100,009 |
| December 2022 | $15,087,739 | $1,803,272 | 12.00% | $135,101 |
| January 2023 | $14,339,351 | $1,587,273 | 11.10% | $94,081 |
| February 2023 | $11,591,163 | $1,106,141 | 9.50% | $54,296 |
| March 2023 | $14,777,639 | $1,837,412 | 12.40% | $130,677 |
| April 2023 | $12,623,675 | $1,264,212 | 10.00% | $82,848 |
| May 2023 | $12,778,371 | $1,306,929 | 10.20% | $81,448 |
| June 2023 | $9,483,450 | $775,389 | 8.20% | $37,705 |
| July 2023 | $8,145,480 | $998,740 | 12.30% | $68,363 |
| August 2023 | $10,464,584 | $1,207,821 | 11.50% | $84,103 |
| September 2023 | $19,259,607 | $1,525,986 | 7.90% | $51,752 |
| October 2023 | $21,234,828 | $2,271,665 | 10.70% | $141,087 |
| November 2023 | $18,525,420 | $1,562,756 | 8.40% | $96,471 |
| December 2023 | $19,023,734 | $1,849,624 | 9.7% | $139,849 |
| Total | $357,117,581 | $36,093,996 | 10.1% | $2,017,763 |
Projected Sports Betting Revenue by State – Pending Legal Changes
Alabama Sports Betting - Predicted Revenue
Alabama’s state legislature has once again stalled house bills that could lead to a statewide vote on a lottery and casino gambling. Absent an avenue to legalized casinos and sports betting, the state is missing out on potentially millions of dollars of business income and tax revenues.
At B2C, we’ve run the data and estimate that in the 12 months covering the whole of 2024, Alabama could take in over $62 million in tax revenues if gambling was legalized. That would be revenue for businesses in the sector of $354.5 million based on a predicted handle over the next year of $3.63 billion.
Alaska Sports Betting - Predicted Revenue
Gambling in Alaska is highly restricted. The latest attempt to legalize sports betting was with House Bill 385 pushed in February 2022. The appetite isn’t there politically, even though there is a hefty amount of tax cash that could be injected into the state coffers.
Based on our sports betting revenue predictions for 2024, we estimate that Alaska could see over $8 million per year in tax receipts. Our data suggests that there would be $526 million of bets placed by Alaskans, making revenues for the business that would fill the newly created sector of $68.44 million.
California Sports Betting - Predicted Revenue
With Prop 22 being rejected in the 2022 voting round, sports betting in California in all forms remains illegal. While the ballots were some of the most hotly contested – and most expensive – in Californian history, sportsbooks online or at tribal casinos was roundly defeated.
Voters may not have wanted legalized sports betting in their state, but that also means they have rejected significant tax revenues. Our estimates put the potential handle for the state at upwards of $28 billion, with revenues for businesses in the sector of $2.8 billion. Based on these numbers and a potential tax rate of 11%, that’s $311.2 million that California could add to its coffers.
Georgia Sports Betting - Predicted Revenue
The 2024 legislative session ended without agreement on sports betting in the Atlanta House. Multiple bills have been introduced to legalize sports betting in the state since 2018, but none of them have passed yet. SB 386 and Senate Resolution 579 are the most recent bills that lawmakers failed to pass after disagreeing on how to spend taxes.
That’s a good amount of revenue to argue over, according to our estimates. If sports betting had been legal in 2024, the total tax taken for the state would have been $35.9 million. That’s based on a predicted handle for Georgia of $2.66 billion, with an expectation of 55% of the population placing bets. That would generate a business revenue across all operators of $299 million.
Hawaii Sports Betting - Predicted Revenue
The Aloha state is one of the most restrictive states in terms of sports betting – there is no legal way to gamble, not even a state lottery. In 2024, a house bill was introduced to create a framework for gambling legalization, with state income set to be held for wildlife conservation. The bill is still before the house at the time of writing and due for a decision in July 2024 – a positive vote would finally allow sportsbooks to operate in the state.
The funding for wildlife conservation could get a hefty boost if the law does take effect. Our estimate suggests that with a handle of $1.033 billion and revenue for bookmakers of more than $96 million, the tax take for Hawaii would be more than $5 million per year.
Idaho Sports Betting - Predicted Revenue
As it stands, you cannot legally partake in sports betting in Idaho. Unlike many of the states that are contemplating legalization with bills or constitutional amendments being actively debated, Idaho doesn’t have anything on the table to change the status quo. Those looking to gamble in the state can head to one of the seven Native American-owned casinos in the state, making it less restrictive than Hawaii and Utah.
If a legislator would take the leap and advocate for a change in state laws, there could be a boost for state coffers. We estimate that state tax take would increase by $7.47 million, based off a revenue of $142.1 million – that would be a yearly handle of $1.51 billion for the state.
Minnesota Sports Betting - Predicted Revenue
A bill was almost passed to legalize sports betting in Minnesota in 2022 and 2024 has come close, too. The House bill had bipartisan support and passed a committee review in April to allow further scrutiny of tax implications. However, relations between supporters of the bill on both sides of the aisle soured in May 2024 due to issues with personal relationships.
When Minnesota finally gets around the passing a sports betting bill, just like its neighbors, there are tax gains to be had. We predict that there could be over $4.1 billion handle over a year, bringing in taxes totaling over $52 million on revenues of $335.6 million.
Missouri Sports Betting - Predicted Revenue
Over 340,000 signatures were submitted to the Missouri Secretary of State in May 2024 in support of an initiative to legalize sports betting. The petition represents over 8% of voters and goes against multiple votes in the state legislature blocking previous attempts. The measure has been placed on the Missouri ballot for November 2024, with the provision allowing online sports betting no later than December 1, 2025.
The measure also stipulates a 10% tax on betting revenue, which would be spent on state education initiatives, as well as a Compulsive Gambling Prevention Fund. Our estimates predict that Missouri’s betting revenue for 2024 would have been $402 million, giving the state an additional $40.2 million in the coffers.
Missourians passed Amendment 2 by less than 7,500 votes, so online and retail sports betting is coming to the state by December 2025.
Oklahoma Sports Betting - Predicted Revenue
In Oklahoma, tribes have the exclusive right to gambling in the state. Although a Senate bill made it as far as the rules committee in 2023, it has been there ever since. There is a lack of consensus on a way forward that would be equitable for all, and so sports betting in Oklahoma is currently illegal.
Were it legal in 2024, the state could have seen millions added to its tax take and budget for the year. Specifically, we estimate that over $106 million in tax would be generated, with business revenue amounting to $200 million and a betting handle of $2.88 billion.
South Carolina Sports Betting - Predicted Revenue
House Bill 3749 would legalize sports betting in South Carolina, but it hasn’t made significant progress through the House since 2023. While there is little support for betting in the state, it is legal for South Carolinans to make their wagers over in North Carolina.
There is also growing hope that change is on the horizon, with the University of South Carolina Department of Sport and Entertainment Management professor Stephen Shapiro predicting that South Carolina will have legal sports betting in the “next couple of years.”
If and when 3749 makes it through the legislature, we estimate that the handle in the state would be $3.79 billion, generating revenues of $426.2 million. Based on these numbers, tax income for the state would be over $51 million.
Texas Sports Betting - Predicted Revenue
No law to allow sports betting in Texas has yet to make it across the line. With state constitution issues and a lack of political will, it may take some time to bring about the legal changes to allow sportsbooks in the Lone Star state.
When the law is passed that permits gambling, it will be a windfall for the state government. We predict that revenue would be $1.9 billion on a handle of over $15 billion. That equates to a tax take of $229 million that would be for Austin to spend.
Utah Sports Betting - Predicted Revenue
Appetite for legalized sports betting in Utah isn’t there, yet. There are not current laws moving through Salt Lake City, although a lottery was proposed to prevent further raises in property taxes in 2023 – it hasn’t yet been successful. Utah is on par with Hawaii for how strict its state gambling ban is.
This is unfortunate for the state, since there is tax income to be had. Our calculations suggest that the 2024 handle for Utah would have been $2.42 billion and tax income would have totaled just shy of $9 million on revenues of $168.6 million.
Contributing Factors to State Revenue
The constantly changing legal landscape mixed with increasing public interest in sports betting makes the markets unpredictable. Each state is heavily influenced by the regulations it adopts, with various market maturity and local preferences creating a complicated but fascinating picture of sports betting in the US.
Seasonality and Localization
The amount of players in a state and their preference plays a big role in how sports betting performs throughout the year in each state. Some sports are inherently more popular in some states, with more activity taking place around big events in those markets than in other states. There are also peaks and declines nationally around major sporting events, with Virginia’s peak in October 2021 of $427.32 million coming with the start of the NFL season.
Maturity Speed
The speed in which the state matures varies on an individual level. With each state following their own path to sports betting legalization, unexpected developments are happening across the US. Despite launching within a few months of each other, South Dakota saw a spike in hold percentage in September 2022 at 29.7%, while Wyoming had a hold of 15.3% with negative tax collection. These relatively low handles are a result of market maturity and having smaller audiences to capture. Others, like Tennessee and Virginia, with higher populations and a more established betting presence, have matured much faster.
Tax Rates on Revenue
With different tax rates, numbers of players, and amounts of sportsbooks operating in each state, tax collection varies. Tennessee, for example, collected $161.83 million from a handle of over $9 billion. Wyoming has managed just $1.59 million by comparison.
- New York has the highest total handle in the US. Through August 2023, New York’s total sports betting handle was approximately $11.24 billion.
- South Dakota has the lowest total handle in the US. Through August 2023, South Dakota’s total sports betting handle was $4.92 million.
- New York had the highest sports betting revenue in the US with nearly $1.7 billion in 2023. Sportsbooks paid $862 million to the state in tax as a result.
Responsible Gambling Online
When the fun stops, stop. If you or someone you know may have a gambling problem, help is available. There are various resources available to prevent problem gambling, including limits, and exclusions. We recommend you monitor your gambling behavior regularly to keep gambling responsibly.