how much is sports betting industry worth

Note that state taxes indicates only taxes that the state ultimately receives, excluding local municipal taxes and certain administrative fees.The global sports betting market size reached a value of approximately USD 98.26 billion in 2023. You can click on the state in the below table to go directly to that state’s section. Gross/Adjusted Revenue hold percentages DO NOT include TN handle and NE revenueĭetails for each state follow in individual sections below. Number of States with Commercial Wagering The month-by-month totals also include calendar-year summaries following the December monthly totals. Supreme Court struck down the 1992 federal ban on full-fledged sports wagering outside Nevada. The first, immediately below, is on a month-by-month basis dating back to May 2018, the month that the U.S. There are now two ways this data is tabulated. The following table shows the sports betting handle (total dollars wagered), sportsbook revenue (gross revenue produced by legal sportsbooks, collectively, and adjusted when applicable), hold percentage across all sportsbooks in the state (percentage of dollars wagered the sportsbooks “kept,” producing the revenue), and state taxes collected. Keep in mind some states report robust information regarding legal wagers, while in others, data is sparse. market, now more than four years since PASPA fell. Some states have legalized only brick and mortar (B&M) sportsbooks for now, while others have also permitted online/mobile wagering demand has been enormous and some states have seen as much as 90% of all bets in the state placed via online/mobile.īelow is a look at reported figures by legal markets in the still-expanding U.S. were wagering $150 billion annually, prior to the overturning of PASPA, yet only about $5 billion of that was happening legally - in Nevada. The American Gaming Association previously estimated that sports bettors in the U.S. However, legal sports wagering has expanded to 29 states and counting as of early 2023 and is showing no signs of slowing down anytime soon. Previously, single-game sports wagering was confined to the state of Nevada, and Las Vegas became the mecca of U.S. That opened the floodgates to state-by-state legalization and regulation of sports betting. Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992. gambling industry, including casinos, lotteries, and daily fantasy sports sites, scored a monumental win in May 2018 when the U.S.

How much is sports betting industry worth