iSince the end of the federal ban on sports betting in 2018, states have been slowly but surely moving to legalize sportsbooks for their citizens. As each state is following its own path, keeping tabs on the ever-changing landscape can be difficult. However, our experts’ analysis of the sports betting landscape can help.

We’ve looked at the handle (total amount wagered), revenue (net profit for sportsbooks), hold percentage (percentage of total bets retained as profits by the sportsbooks), and taxes, giving you the financial information you need, when you need it.

Key Takeaways on US States Betting Revenue

  • Diverse Market Maturity: With each state following their own timetable for legislation along with different rules and regulations, some markets are maturing faster than others. States like South Dakota and Wyoming have relatively low handles as a result of market maturity and smaller audiences to capture. Others, like Tennessee and Virginia, with higher populations and a more established betting presence, have matured much faster.
  • Hold Percentages: Similar to market maturity, sportsbooks in each state varied greatly when it came to hold percentages. West Virginia averaged 8.4%, with Wyoming showing an average of 10.4%. There are even wild fluctuations within each state, with South Dakota sportsbooks ranging from -2.2% to 29.7%.
  • Tax Revenue: With different tax rates, numbers of players, and amounts of sportsbooks operating in each state, tax collection has been similarly diverse. Tennessee, for example, collected $161.83 million from a handle of over $9 billion. Wyoming has managed just $1.59 million by comparison.
  • Market Dynamics: Seasonality and localization is playing 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.
  • Unique Observations: 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.

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.

Quick Facts

Before looking at the per-state revenue information, we’ve pulled some quick facts you might find helpful when checking US sports betting revenue in general.

  • 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.

US Sports Betting Revenue by State – 2024

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 million in May 2022.
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
Total $13,660,583,883 $1,133,708,967 8.30% $64,871,192
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.
  • In March 2023, Arkansas operators reported a handle of over $37 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
Total $702,482,846 $69,393,101 9.90% $9,804,358
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 $13 billion, with a total revenue of over $800 million.
  • 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 over $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.
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
Total $15,058,842,636 $1,029,249,174 6.80% $58,010,828
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. 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
Total $3,619,352,854 $360,822,870 10.0% $37,216,396
Delaware Sports Betting

Sports betting has become increasingly popular since it was legalized in Delaware. There have been more than $570 million worth of bets placed, with over $112 million revenue for the state as a result. The hold for casinos has been impressive, with its 19.7% 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.
  • One of the reasons for the wild swings in hold rate across winter months is betting on NFL. February has posted multiple negative hold rates, possibly due to betting on the Superbowl, for example.
  • Drops in revenue might be similarly based around football, with more generous welcome offers for the Superbowl 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
Total $605,492,659 $118,642,140 19.60% $71,839,590
District of Columbia 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.

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
Total $669,781,869 $82,626,435 12.3% $20,934,289
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 almost $25 billion, showing just how profitable and well-established sports betting has become in Illinois.
  • The hold average of 8.23% is fairly typical for the nation and has led to extra tax revenues exceeding $300 million.
  • There have been five months in Illinois where the handle has been over $1 billion. These include October 2021, November 2021, December 2021, January 2022, and March 2022. This is likely due to busy seasons in the NFL and NBA, along with March Madness in college basketball.
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
Total $30,276,158,867 $2,487,035,886 8.20% $393,550,927
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 since its $35 million start in September 2019. Their 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.
  • Indiana’s numbers are impressive across the board, with a total handle of $13 billion, total revenue of $1.1 billion, and tax contributions of $105 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
Total $14,840,378,835 $1,277,528,786 8.60% $121,401,282
Iowa Sports Betting

Sports betting in Iowa was impacted significantly in March and April 2020, possibly due to the COVID-19 pandemic. There were big drops in handle and revenue for both months, but the market picked up quickly since then. Since hitting the $100,000 mark in December 2020, the handle hasn’t dipped below 6 figures.

Iowa Sports Betting Revenue – Highlights

  • Iowa has racked up a revenue of over $462 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.
  • 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.
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
Total $7,609,713,003 $550,999,662 7.20% $37,192,619
Kansas Sports Betting

As a new market, 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 $166 million in revenue.
  • The state has benefitted from sports betting with almost $7 million paid in taxes since legalization.
  • Kansas’ sports betting opened well and saw a peak in March 2023, coinciding with March Madness.
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
Total $2,840,341,982 $258,921,362 9.10% $12,129,101
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
Total $340,813,120 $57,234,384 16.80% $7,940,753
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
Total $5,275,035,907 $593,048,293 11.2% $78,679,245
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
Total $81,822,613 $9,210,353 11.30% $902,035
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
Total $5,613,460,397 $666,731,775 11.90% $52,735,707
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
Total $4,988,637,586 $483,151,502 9.70% $93,832,899
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
Total $13,108,236,948 $1,124,963,925 8.60% $56,658,003
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
Total $2,434,573,511 $276,313,642 11.30% $33,157,637
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
Total $179,163,546 $24,394,746 13.60% $3,887,035
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.

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
Total $36,878,327,459 $2,102,260,000 5.70% $141,902,550
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
Total $2,631,494,344 $206,614,672 7.90% $94,084,560
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
Total $45,687,238,008 $3,376,269,944 7.40% $468,532,070
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.
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
Total $35,848,487,230 $3,106,223,684 8.70% $1,560,692,815
North Carolina Sports Betting

North Carolina Sports Betting Revenue – Not Available

North Carolina has taken steps to legalize online sports betting in the state, but there is no current launch date.

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
Total $5,906,849,237 $779,140,969 13.20% $102,115,317
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
Total $1,694,924,296 $168,877,603 10.00% $84,438,802
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
Total $25,649,281,622 $2,075,794,898 8.10% $505,353,064
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
Total $1,833,667,511 $163,672,244 8.90% $83,472,844
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
Total $17,735,069 $2,157,413 12.20% $194,167
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
Total $11,185,703,664 $1,097,435,095 9.80% $196,354,392
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
Total $12,452,582,651 $1,220,392,896 9.80% $130,456,082
Washington Sports Betting

Washington Sports Betting Revenue – Not Available

While in-person betting is currently allowed at tribal casinos, Washington doesn’t currently have legal online sports betting.

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
Total $2,224,300,087 $190,701,190 8.60% $19,072,029
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
Total $338,093,847 $34,244,372 10.10% $1,877,915