There are very few industries in the U.S. currently experiencing a hotter streak than the sports betting industry.
In 2023, legal sports betting in the United States saw nearly $120 billion in wagers, with projections indicating an even higher amount for the current year. This industry has firmly solidified its presence in the American sports landscape.
We regularly update the latest numbers for each state, including the monthly handle and hold for all legal jurisdictions. Be sure to check back frequently for the most up-to-date information.
US Sports Betting Revenue: 2024 vs Previous Years
There is no doubt that sports betting is rapidly expanding.
Having surpassed $100 billion in total legal wagers in 2023, the industry is on track to break a new yearly record in 2024. A strong start to the year has pushed the total amount of bets placed at legal sportsbooks in the U.S. to over $350 billion since the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018.
As anticipated, the top sportsbooks in North America have dominated the majority of the betting activity in almost every state.
Take a peek at the annual handle, revenue, and hold percentage for the current year (definitions of these betting terms can be found in our glossary at the bottom of the page).
Year-by-Year Data, 2018-24
| Year | Handle | Gross Revenue | Hold |
| 2024 | $60,019,254,901 | $5,684,384,427 | 9.5% |
| 2023 | $121,064,466,469 | $11,048,223,917 | 9.1% |
| 2022 | $93,726,726,923 | $7,559,425,190 | 8.1% |
| 2021 | $57,525,518,127 | $4,341,696,962 | 7.5% |
| 2020 | $21,476,520,882 | $1,546,743,084 | 7.2% |
| 2019 | $13,073,426,594 | $920,626,754 | 7.0% |
| 2018 | $6,608,072,006 | $441,736,410 | 6.7% |
Month-by-Month Data, 2024 to Date
| Month | Handle | Gross Revenue | Hold |
| January | $13,887,058,806 | $1,507,276,635 | 10.9% |
| February | $11,324,639,299 | $900,547,616 | 8.0% |
| March | $12,908,828,319 | $1,010,129,476 | 7.8% |
| April | $10,127,122,944 | $1,005,850,279 | 9.9% |
| May | $9,249,294,325 | $967,345,672 | 10.5% |
Month-by-Month Data, 2023
| Month | Handle | Gross revenue | Hold |
| January | $11,498,154,406 | $1,065,957,209 | 9.3% |
| February | $9,014,426,342 | $712,764,443 | 7.9% |
| March | $11,236,636,554 | $1,068,421,204 | 9.5% |
| April | $9,176,221,600 | $869,429,328 | 9.5% |
| May | $8,137,649,326 | $916,328,162 | 11.3% |
| June | $6,616,003,472 | $548,656,527 | 8.3% |
| July | $5,898,621,040 | $622,926,008 | 10.6% |
| August | $6,660,118,021 | $609,167,941 | 9.1% |
| September | $11,576,828,147 | $1,108,889,239 | 9.6% |
| October | $12,812,334,808 | $1,242,284,208 | 9.7% |
| November | $14,470,268,900 | $916,456,015 | 6.3% |
| December | $13,967,203,848 | $1,366,943,628 | 9.8% |
US States Sports Betting Revenue
Arizona Sports Betting Revenue
Since its launch in September 2021, the Arizona sports betting industry has flourished, earning more than $1.2 billion in gross revenue in its first two years. Retail sportsbooks face an 8% annual tax rate, while online revenue is taxed at 10%.
Arizona Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,759,999,039 | $247,824,230 | 9.0% |
| 2023 | $6,573,800,271 | $557,533,412 | 8.5% |
| 2022 | $6,036,844,929 | $482,932,554 | 8.0% |
Arizona 2024 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $706,382,861 | $70,943,718 | 10.0% |
| February | $637,485,879 | $54,329,589 | 8.5% |
| March | $759,807,633 | $59,289,055 | 7.8% |
| April | $656,322,666 | $63,261,868 | 9.6% |
Arizona 2023 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $591,220,793 | $47,486,816 | 8.0% |
| February | $609,278,096 | $35,392,452 | 5.8% |
| March | $644,763,990 | $53,523,946 | 8.3% |
| April | $535,712,027 | $49,163,322 | 9.2% |
| May | $451,717,025 | $49,595,605 | 10.9% |
| June | $393,198,857 | $28,331,607 | 7.2% |
| July | $323,211,485 | $35,343,494 | 10.9% |
| August | $358,875,474 | $31,681,151 | 8.8% |
| September | $610,716,285 | $60,115,066 | 9.8% |
| October | $648,208,573 | $56,868,980 | 8.8% |
| November | $713,586,703 | $42,333,281 | 5.9% |
| December | $693,310,960 | $67,697,686 | 9.8% |
Arizona 2022 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $563,694,591 | $41,890,200 | 7.4% |
| February | $491,665,553 | $25,629,834 | 5.2% |
| March | $690,979,294 | $38,898,393 | 5.6% |
| April | $512,877,847 | $30,441,991 | 5.9% |
| May | $461,450,688 | $56,193,285 | 12.2% |
| June | $318,774,198 | $12,601,356 | 4.0% |
| July | $290,511,532 | $22,684,581 | 7.8% |
| August | $361,008,835 | $37,161,758 | 10.3% |
| September | $537,966,148 | $56,428,816 | 10.5% |
| October | $618,570,296 | $49,392,417 | 8.0% |
| November | $616,855,044 | $56,028,194 | 9.1% |
| December | $572,490,899 | $55,581,724 | 9.7% |
Arkansas Sports Betting Revenue
The growth of sports betting in Arkansas has been consistent, reaching a milestone with the first three $50 million months in state history from November 2023 to January 2024 (followed by a fourth in March 2024). Underdogs are subject to a 13% tax rate on revenue up to $150 million, and 20% on any amount exceeding that.
Arkansas Yearly Revenue Data
| Year | Handle | Gross revenue | Hold |
| 2024 | $223,265,817 | $19,280,568 | 8.6% |
| 2023 | $404,764,327 | $37,190,265 | 9.2% |
| 2022 | $185,818,482 | $17,922,004 | 9.6% |
Arkansas 2024 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $50,698,700 | $5,855,921 | 11.6% |
| February | $40,947,811 | $2,672,209 | 6.5% |
| March | $50,031,696 | $3,406,749 | 6.8% |
| April | $41,763,742 | $3,788,712 | 9.1% |
| May | $39,823,867 | $3,556,977 | 8.9% |
Arkansas 2023 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $32,976,263 | $2,868,243 | 8.7% |
| February | $29,532,263 | $1,709,714 | 5.8% |
| March | $37,474,412 | $4,264,046 | 11.4% |
| April | $25,452,659 | $2,336,023 | 9.2% |
| May | $22,777,209 | $2,293,280 | 10.1% |
| June | $22,708,944 | $1,334,972 | 5.9% |
| July | $17,577,626 | $2,077,421 | 11.8% |
| August | $22,553,214 | $1,673,538 | 7.4% |
| September | $41,002,256 | $4,026,260 | 9.8% |
| October | $44,986,802 | $5,825,160 | 12.9% |
| November | $54,770,448 | $3,018,845 | 5.5% |
| December | $52,952,226 | $5,762,756 | 10.9% |
Arkansas 2022 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $8,775,931 | $1,181,335 | 13.5% |
| February | $5,876,443 | $331,001 | 5.6% |
| March | $10,686,500 | $791,848 | 7.4% |
| April | $8,598,226 | $749,810 | 8.7% |
| May | $10,185,647 | $583,015 | 5.7% |
| June | $12,632,207 | $4,044 | 0.0% |
| July | $9,290,467 | $854,435 | 9.2% |
| August | $10,195,911 | $1,015,339 | 10.0% |
| September | $21,185,546 | $3,208,032 | 15.1% |
| October | $26,879,106 | $2,793,719 | 10.4% |
| November | $30,576,009 | $2,999,449 | 9.8% |
| December | $30,936,484 | $3,409,971 | 11.0% |
Colorado Sports Betting Revenue
Colorado has a thriving sports betting scene, particularly popular among table tennis enthusiasts in the state. Despite this, Colorado has only experienced one month with double-digit hold rates since the beginning of 2022. Hold rates have remained nearly identical from 2022 to 2023 and into 2024.
Colorado Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,236,277,434 | $156,322,513 | 7.0% |
| 2023 | $5,560,232,285 | $391,773,823 | 7.0% |
| 2022 | $5,181,758,901 | $351,950,256 | 6.8% |
Colorado 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $596,685,967 | $53,490,322 | 9.0% |
| February | $536,988,261 | $25,762,378 | 4.8% |
| March | $593,094,977 | $45,041,776 | 7.6% |
| April | $509,508,228 | $32,028,036 | 6.3% |
Colorado 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $547,189,024 | $35,482,561 | 6.5% |
| February | $425,142,876 | $22,599,602 | 5.3% |
| March | $494,440,209 | $45,763,226 | 9.3% |
| April | $417,814,147 | $35,148,592 | 8.4% |
| May | $385,242,135 | $31,406,903 | 8.2% |
| June | $310,656,478 | $9,223,661 | 3.0% |
| July | $281,110,490 | $24,962,106 | 8.9% |
| August | $306,065,790 | $25,873,057 | 8.5% |
| September | $512,792,794 | $45,276,516 | 8.8% |
| October | $554,859,801 | $46,914,491 | 8.5% |
| November | $608,488,266 | $28,585,605 | 4.7% |
| December | $716,430,270 | $40,537,499 | 5.7% |
Colorado 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold % |
| January | $573,720,213 | $34,640,219 | 6.0% |
| February | $440,508,420 | $19,604,490 | 4.5% |
| March | $505,611,080 | $28,238,194 | 5.6% |
| April | $392,311,737 | $22,571,887 | 5.8% |
| May | $360,325,437 | $27,119,329 | 7.5% |
| June | $313,215,080 | $6,781,091 | 2.2% |
| July | $258,414,807 | $20,802,880 | 8.1% |
| August | $290,107,969 | $25,859,270 | 8.9% |
| September | $450,232,596 | $51,339,659 | 11.4% |
| October | $526,619,776 | $36,514,974 | 6.9% |
| November | $552,603,012 | $37,569,022 | 6.8% |
| December | $518,088,768 | $40,909,237 | 7.9% |
Connecticut Sports Betting Revenue
Connecticut residents are heavily engaged in sports betting, with the state’s sports betting platforms maintaining one of the highest handle retention rates in the nation. This is advantageous for operators, as they are required to pay 13.75% on retail revenue and 18% on online earnings.
Connecticut Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $871,168,566 | $94,418,760 | 10.8% |
| 2023 | $1,762,933,823 | $174,817,802 | 10.1% |
| 2022 | $1,518,393,076 | $135,523,218 | 8.9% |
Connecticut 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $202,752,249 | $25,570,170 | 12.6% |
| February | $162,841,632 | $14,820,348 | 9.1% |
| March | $187,815,980 | $16,981,438 | 9.0% |
| April | $154,109,876 | $19,105,482 | 12.4% |
| May | $163,648,829 | $17,941,322 | 11.0% |
Connecticut 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $167,673,044 | $17,562,322 | 10.5% |
| February | $136,508,300 | $10,866,536 | 8.0% |
| March | $159,997,579 | $16,509,118 | 10.3% |
| April | $126,600,000 | $13,146,672 | 10.4% |
| May | $109,421,369 | $14,926,294 | 13.6% |
| June | $91,414,677 | $8,879,045 | 9.7% |
| July | $91,512,897 | $10,624,363 | 11.6% |
| August | $91,316,807 | $9,251,667 | 10.1% |
| September | $180,954,956 | $18,718,687 | 10.3% |
| October | $189,626,160 | $19,428,117 | 10.2% |
| November | $205,736,989 | $12,524,037 | 6.1% |
| December | $212,171,045 | $22,380,944 | 10.5% |
Connecticut 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $158,092,481 | $11,187,162 | 7.1% |
| February | $115,619,953 | $5,028,912 | 4.3% |
| March | $140,747,137 | $10,130,861 | 7.2% |
| April | $116,465,199 | $9,519,496 | 8.2% |
| May | $115,180,155 | $9,353,193 | 8.1% |
| June | $95,421,852 | $6,398,056 | 6.7% |
| July | $78,316,775 | $7,743,423 | 9.9% |
| August | $78,539,367 | $10,091,279 | 12.8% |
| September | $130,547,719 | $16,989,682 | 13.0% |
| October | $164,170,106 | $15,898,881 | 9.7% |
| November | $165,026,282 | $17,414,783 | 10.6% |
| December | $160,266,050 | $15,767,490 | 9.8% |
DC Sports Betting Revenue
DC sports betting has had a strong start, but the transition from Gambet to FanDuel as the district’s sole sportsbook will be intriguing to watch in terms of its effect on future revenue and handle numbers. Recent trends in early 2024 indicate that the initial excitement around sports betting in DC may be fading.
DC Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $54,710,815 | $5,203,159 | 9.5% |
| 2023 | $169,771,690 | $19,048,156 | 11.6% |
| 2022 | $216,231,404 | $23,210,126 | 10.7% |
DC 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $15,957,166 | $1,933,438 | 12.1% |
| February | $11,977,393 | $1,219,280 | 10.2% |
| March | $15,742,055 | $1,366,515 | 8.7% |
| April | $11,034,199 | $683,925 | 6.2% |
DC 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $20,115,254 | $1,494,441 | 7.4% |
| February | $14,634,828 | $1,193,982 | 8.2% |
| March | $18,091,767 | $2,275,690 | 12.6% |
| April | $14,052,054 | $1,418,907 | 10.1% |
| May | $12,532,898 | $2,024,803 | 16.2% |
| June | $11,150,332 | $484,672 | 4.3% |
| July | $7,722,843 | $1,409,549 | 18.3% |
| August | $8,111,021 | $1,048,451 | 12.9% |
| September | $14,480,473 | $1,934,261 | 13.4% |
| October | $16,435,888 | $2,001,444 | 12.2% |
| November | $17,128,830 | $1,227,995 | 7.2% |
| December | $15,315,496 | $2,533,959 | 16.5% |
DC 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $18,627,788 | $1,962,255 | 10.5% |
| February | $19,072,855 | $740,542 | 3.9% |
| March | $20,432,718 | $1,365,996 | 6.7% |
| April | $18,379,903 | $1,431,275 | 7.8% |
| May | $17,234,139 | $2,016,708 | 11.7% |
| June | $13,760,037 | $999,927 | 7.3% |
| July | $11,346,178 | $1,166,210 | 10.3% |
| August | $13,147,645 | $1,832,685 | 13.9% |
| September | $19,361,047 | $3,530,486 | 18.2% |
| October | $24,801,500 | $3,111,717 | 12.5% |
| November | $21,401,681 | $2,641,693 | 12.3% |
| December | $18,665,909 | $2,410,627 | 12.9% |
Delaware Sports Betting Revenue
The state of Delaware has seen a significant increase in revenue due to a 50% tax rate imposed on BetRivers, the only sports betting operator in the state. As a result, BetRivers has adjusted the odds on its betting markets, leading to hold rates exceeding 20% in 2022 and 2023. However, these rates have decreased notably in 2024.
Delaware Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $80,414,553 | $6,134,003 | 7.6% |
| 2023 | $65,326,807 | $14,539,393 | 22.3% |
| 2022 | $82,471,393 | $17,317,229 | 21% |
Delaware 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $17,085,199 | $1,957,473 | 11.5% |
| February | $13,763,241 | $659,017 | 4.8% |
| March | $18,935,525 | $1,168,825 | 6.2% |
| April | $15,522,996 | $1,147,601 | 7.4% |
| May | $15,107,592 | $1,201,087 | 8.0% |
Delaware 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold % |
| January | $8,457,660 | $2,325,156 | 27.5% |
| February | $4,120,957 | $373,701 | 9.10% |
| March | $3,491,183 | $626,371 | 17.9% |
| April | $3,450,142 | $454,657 | 13.2% |
| May | $2,760,829 | $314,900 | 11.4% |
| June | $3,128,258 | $123,625 | 4.0% |
| July | $2,256,345 | $378,416 | 16.8% |
| August | $2,400,532 | $426,015 | 17.7% |
| September | $7,633,258 | $1,544,760 | 20.2% |
| October | $10,663,361 | $3,828,072 | 35.9% |
| November | $8,126,283 | $1,101,041 | 13.5% |
| December | $8,837,999 | $3,042,679 | 34.4% |
Delaware 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $12,637,103 | $2,716,346 | 21.5% |
| February | $5,435,407 | $73,298 | 1.3% |
| March | $5,157,583 | $632,532 | 12.3% |
| April | $4,200,298 | $359,242 | 8.6% |
| May | $5,127,275 | $566,488 | 11.0% |
| June | $3,507,846 | $243,164 | 6.9% |
| July | $2,678,686 | $438,549 | 16.4% |
| August | $2,902,652 | $429,732 | 14.8% |
| September | $8,948,981 | $3,859,442 | 43.1% |
| October | $13,545,163 | $3,629,919 | 26.8% |
| November | $10,172,819 | $2,303,197 | 22.6% |
| December | $8,157,580 | $2,065,320 | 25.3% |
Illinois Sports Betting Revenue
In October 2022, Illinois became a member of the Billion Dollar Club for monthly handle and has since continued its success, achieving 13 billion-dollar months by March 2024. The state’s sports betting industry includes eight well-known betting sites, and they are now facing higher taxes following Gov. Pritzker’s approval of a hike that could require top operators to pay up to 40% of their gross gaming revenue.
Illinois Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $4,724,933,833 | $479,800,217 | 10.2% |
| 2023 | $11,613,463,222 | $1,002,257,982 | 8.6% |
| 2022 | $9,739,208,276 | $794,102,885 | 8.2% |
Illinois 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,291,606,042 | $129,511,642 | 10.1% |
| February | $1,070,625,059 | $77,162,218 | 7.2% |
| March | $1,264,532,904 | $103,814,124 | 8.2% |
| April | $1,103,531,944 | $169,312,233 | 15.3% |
Illinois 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,077,486,085 | $96,005,711 | 8.9% |
| February | $880,452,830 | $68,362,951 | 7.8% |
| March | $1,062,509,013 | $97,231,066 | 10.0% |
| April | $906,722,813 | $89,462,802 | 9.9% |
| May | $819,211,197 | $89,075,298 | 10.9% |
| June | $668,151,969 | $54,669,429 | 8.2% |
| July | $609,750,651 | $60,276,102 | 9.9% |
| August | $664,265,657 | $47,023,954 | 7.1% |
| September | $1,064,847,529 | $86,263,444 | 8.1% |
| October | $1,169,105,324 | $112,724,122 | 9.6% |
| November | $1,374,822,624 | $72,722,090 | 5.3% |
| December | $1,316,137,531 | $128,441,014 | 9.8% |
Illinois 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $873,435,399 | $65,273,282 | 7.5% |
| February | $683,577,994 | $35,278,177 | 5.2% |
| March | $953,825,795 | $61,968,444 | 6.5% |
| April | $841,741,787 | $70,589,696 | 8.4% |
| May | $765,815,235 | $66,437,866 | 8.7% |
| June | $628,338,170 | $40,860,123 | 6.5% |
| July | $518,645,316 | $46,080,136 | 8.9% |
| August | $548,006,241 | $47,797,430 | 8.7% |
| September | $826,688,835 | $78,416,646 | 9.5% |
| October | $1,040,078,980 | $102,088,548 | 9.8% |
| November | $1,029,647,400 | $96,969,201 | 9.4% |
| December | $1,029,407,124 | $82,343,338 | 8.0% |
Indiana Sports Betting Revenue
Could Indiana sports betting be on the verge of a significant upswing? The Indiana Pacers’ remarkable progress and the emergence of Caitlin Clark as a rising star in the WNBA might just give a much-needed boost to one of the nation’s top basketball hubs. Operators in Indiana are subject to a relatively low 9.5% tax on both retail and online earnings.
Indiana Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,145,451,614 | $206,780,179 | 9.6% |
| 2023 | $4,337,817,807 | $404,060,030 | 9.3% |
| 2022 | $4,470,774,958 | $386,785,294 | 8.7% |
Indiana 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $480,573,357 | $53,506,697 | 11.1% |
| February | $408,675,533 | $37,601,071 | 9.2% |
| March | $500,757,257 | $37,899,471 | 7.6% |
| April | $393,855,317 | $39,077,679 | 9.9% |
| May | $361,590,148 | $38,695,260 | 10.7% |
Indiana 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $427,154,794 | $35,347,154 | 8.3% |
| February | $356,187,759 | $28,076,424 | 7.9% |
| March | $433,022,775 | $43,746,469 | 10.1% |
| April | $321,404,737 | $29,349,149 | 9.1% |
| May | $283,495,510 | $33,542,239 | 11.8% |
| June | $224,070,051 | $19,036,099 | 8.5% |
| July | $203,788,074 | $23,420,740 | 11.5% |
| August | $238,079,854 | $23,329,751 | 9.8% |
| September | $404,141,002 | $40,624,361 | 10.1% |
| October | $429,673,062 | $46,135,347 | 10.7% |
| November | $513,672,424 | $26,848,975 | 5.2% |
| December | $503,127,765 | $54,603,323 | 10.9% |
Indiana 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $500,138,649 | $29,278,178 | 5.9% |
| February | $409,109,103 | $22,396,133 | 5.5% |
| March | $479,695,527 | $32,685,435 | 6.8% |
| April | $360,023,258 | $27,634,094 | 7.7% |
| May | $308,385,684 | $31,951,465 | 10.4% |
| June | $256,307,260 | $15,653,583 | 6.1% |
| July | $206,627,686 | $20,510,069 | 9.9% |
| August | $237,990,177 | $25,978,250 | 10.9% |
| September | $382,507,090 | $50,551,749 | 13.2% |
| October | $446,248,394 | $46,393,925 | 10.4% |
| November | $452,318,954 | $40,197,276 | 8.9% |
| December | $431,423,176 | $43,555,139 | 10.1% |
Iowa Sports Betting Revenue
Iowa sports betting is thriving and has shown a strong recovery to 2022 levels in the most recent 2024 results. With 17 betting sites in the state, they have moved past the days of a 4% handle and are benefiting from a low 6.75% tax rate on revenue.
Iowa Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $1,144,402,978 | $87,093,492 | 7.6% |
| 2023 | $2,420,464,386 | $198,797,419 | 8.2% |
| 2022 | $2,348,065,963 | $165,551,990 | 7.1% |
Iowa 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $259,468,795 | $22,064,697 | 8.5% |
| February | $220,583,731 | $13,608,942 | 6.2% |
| March | $272,366,214 | $18,194,914 | 6.7% |
| April | $209,522,911 | $16,527,342 | 7.9% |
| May | $182,461,326 | $16,697,596 | 9.2% |
Iowa 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $233,619,612 | $16,543,361 | 7.1% |
| February | $193,879,638 | $11,871,156 | 6.1% |
| March | $232,614,150 | $19,857,210 | 8.5% |
| April | $172,589,394 | $14,127,483 | 8.2% |
| May | $147,715,126 | $16,599,871 | 11.2% |
| June | $115,595,593 | $7,131,173 | 6.2% |
| July | $109,680,895 | $10,568,989 | 9.6% |
| August | $141,295,039 | $13,507,280 | 9.6% |
| September | $245,759,020 | $24,059,083 | 9.8% |
| October | $255,293,522 | $24,189,825 | 9.5% |
| November | $289,698,466 | $14,090,776 | 4.9% |
| December | $282,723,930 | $26,251,213 | 9.3% |
Iowa 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $303,327,688 | $14,269,557 | 4.7% |
| February | $215,921,313 | $8,579,100 | 4.0% |
| March | $233,525,474 | $14,411,046 | 6.2% |
| Apr | $177,370,317 | $12,398,243 | 7.0% |
| May | $147,913,284 | $12,630,387 | 8.5% |
| June | $122,437,950 | $6,568,678 | 5.4% |
| Julu | $108,556,796 | $11,173,191 | 10.3% |
| August | $122,568,313 | $14,418,923 | 11.8% |
| September | $200,230,741 | $25,417,557 | 12.7% |
| October | $238,788,234 | $19,137,523 | 8.0% |
| November | $247,476,284 | $5,802,261 | 2.3% |
| December | $229,949,570 | $20,745,524 | 9.0% |
Kansas Sports Betting Revenue
Following a successful launch in September 2022, analysts and observers were curious about the long-term performance of Kansas sports betting. Their expectations were exceeded as Kansas reached the $250 million handle milestone in consecutive months towards the end of the year. However, operators were hoping for a larger portion of the revenue.
Kansas Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $1,059,857,805 | $81,190,245 | 7.7% |
| 2023 | $2,121,564,412 | $182,415,461 | 8.6% |
| 2022 | $718,777,570 | $76,505,901 | 10.6% |
Kansas 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $239,618,587 | $20,864,472 | 8.7% |
| February | $203,046,644 | $8,463,732 | 4.2% |
| March | $252,901,770 | $16,760,995 | 6.6% |
| April | $192,085,924 | $17,890,802 | 9.3% |
| May | $172,204,880 | $17,210,244 | 10.0% |
Kansas 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $206,060,734 | $15,105,189 | 7.3% |
| February | $194,034,469 | (-$845,377) | (-0.4)% |
| March | $206,287,094 | $20,975,191 | 10.2% |
| April | $132,981,289 | $9,197,202 | 6.9% |
| May | $120,323,444 | $14,550,824 | 12.1% |
| June | $98,125,865 | $8,195,048 | 8.4% |
| July | $79,715,016 | $9,644,263 | 12.1% |
| August | $94,415,479 | $7,662,828 | 8.1% |
| September | $219,293,493 | $18,155,498 | 8.3% |
| October | $249,711,810 | $25,404,712 | 10.2% |
| November | $260,937,284 | $18,017,353 | 6.9% |
| December | $259,678,435 | $30,913,033 | 11.9% |
Kansas 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| September | $160,527,371 | $22,014,698 | 13.7% |
| October | $189,919,311 | $18,582,842 | 9.8% |
| November | $186,353,708 | $19,073,128 | 10.2% |
| December | $181,977,180 | $16,835,233 | 9.3% |
Kentucky Sports Betting Revenue
Kentucky’s sports betting industry may be new, but the numbers coming out of The Bluegrass State are already impressive. In just over 4 months, Kentucky surpassed the billion-dollar mark in total betting handle. Underscoregs brought in an impressive $61.3 million in gross revenue in the first two months of 2024, with a hold rate of 13.2%.
Kentucky Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $465,483,835 | $61,317,200 | 13.2% |
| 2023 | $886,130,170 | $110,199,075 | 12.4% |
Kentucky 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $257,108,231 | $39,250,213 | 15.3% |
| February | $208,375,604 | $22,066,987 | 10.6% |
Kentucky 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| September | $45,862,901 | $2,560,455 | 5.6% |
| October | $294,950,219 | $54,037,982 | 18.3% |
| November | $281,455,256 | $21,580,783 | 7.7% |
| December | $263,861,793 | $32,019,855 | 12.1% |
Louisiana Sports Betting Revenue
Louisiana sports betting is undeniably thriving, with sportsbooks in the state seeing significant financial gains. In 2023, operators held 12.6% of revenue, a rate that is being matched in 2024. Retail establishments are taxed at 10%, while online sports betting sites face a 15% tax on their earnings.
Louisiana Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $1,510,823,300 | $196,539,233 | 13.0% |
| 2023 | $2,905,136,865 | $366,965,819 | 12.6% |
| 2022 | $2,299,760,918 | $214,334,604 | 9.3% |
Louisiana 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $346,320,907 | $52,696,465 | 15.2% |
| February | $274,775,955 | $31,152,229 | 11.3% |
| March | $350,006,557 | $37,682,135 | 10.8% |
| April | $283,059,884 | $40,347,029 | 14.3% |
| May | $256,659,997 | $34,693,005 | 13.5% |
Louisiana 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $282,269,901 | $35,729,570 | 12.7% |
| February | $197,709,561 | $23,295,088 | 11.8% |
| March | $249,279,453 | $32,318,327 | 13.0% |
| April | $209,746,932 | $23,414,940 | 11.2% |
| May | $195,123,855 | $29,860,212 | 15.3% |
| June | $160,083,233 | $13,621,060 | 8.5% |
| July | $134,757,491 | $18,282,477 | 13.6% |
| August | $153,933,704 | $18,137,683 | 11.8% |
| September | $280,093,549 | $43,143,474 | 15.4% |
| October | $308,613,008 | $43,338,752 | 14.0% |
| November | $356,479,622 | $29,304,005 | 8.2% |
| December | $377,046,556 | $56,520,231 | 15.0% |
Louisiana 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $89,732,385 | $7,982,840 | 8.9% |
| February | $238,413,596 | $27,316,419 | 11.5% |
| March | $232,730,341 | $30,943,063 | 13.3% |
| April | $208,255,060 | $6,140,843 | 2.9% |
| May | $171,135,819 | $25,691,302 | 15.0% |
| June | $132,438,015 | $10,891,261 | 8.2% |
| July | $118,329,243 | $20,729,894 | 17.5% |
| August | $128,251,857 | $9,713,993 | 7.6% |
| September | $201,553,881 | $32,263,110 | 16.0% |
| October | $255,528,321 | $30,694,282 | 12.0% |
| November | $268,638,967 | (-$25,323,194) | (-9.4)% |
| December | $254,753,433 | $37,290,791 | 14.6% |
Maine Sports Betting Revenue
Greetings, Maine! Legal sports betting was successfully introduced in November 2023, with promising early results. However, March 2024 presented a mixed bag for operators, showcasing record monthly handle but also marking the lowest hold percentage in the history of legal sports wagering in Maine.
Maine Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $196,881,852 | $19,562,404 | 9.9% |
| 2023 | $82,091,923 | $9,210,175 | 11.4% |
Maine 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $38,133,928 | $5,553,603 | 14.6% |
| February | $33,725,875 | $4,336,678 | 12.9% |
| March | $47,407,405 | $2,672,964 | 5.6% |
| April | $38,203,545 | $4,063,250 | 10.6% |
| May | $39,649,761 | $3,174,572 | 8.0% |
Maine 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| November | $37,605,088 | $4,723,855 | 12.6% |
| December | $44,486,835 | $4,486,320 | 10.1% |
Maryland Sports Betting Revenue
Maryland sports betting has thrived despite its proximity to other legal states. In 2023, the Mid-Atlantic gem saw over $4.6 billion in handle, and is on track to exceed that number in 2024. There are twelve operators in Maryland who are subject to a 15% tax on revenue.
Maryland Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,442,106,715 | $270,036,048 | 11.1% |
| 2023 | $4,617,323,132 | $514,081,189.02 | 11.2% |
| 2022 | $979,584,834 | $149,342,084.06 | 15.2% |
Maryland 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $544,971,369 | $80,000,651 | 14.7% |
| February | $442,557,658 | $43,445,464 | 9.8% |
| March | $536,730,427 | $45,104,096 | 8.4% |
| April | $486,319,124 | $50,420,705 | 10.4% |
| May | $431,528,137 | $51,065,131 | 11.8% |
Maryland 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $441,481,779 | $59,601,405 | 13.5% |
| February | $339,421,546 | $40,214,644 | 11.8% |
| March | $385,967,195 | $47,548,313 | 12.3% |
| April | $328,454,397 | $35,644,586 | 10.8% |
| May | $320,199,671 | $42,742,216 | 13.3% |
| June | $254,476,790 | $27,077,118 | 10.6% |
| July | $247,412,348 | $28,114,521 | 11.4% |
| August | $263,729,559 | $24,900,637 | 9.4% |
| September | $442,450,666 | $45,575,923 | 10.3% |
| October | $483,147,391 | $58,701,910 | 12.1% |
| November | $550,716,329 | $41,628,982 | 7.6% |
| December | $559,865,463 | $62,330,932 | 11.1% |
Maryland 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $32,530,831 | $4,375,316 | 13.4% |
| February | $25,526,148 | $955,377 | 3.7% |
| March | $31,025,892 | $3,846,791 | 12.4% |
| April | $26,908,845 | $2,838,501 | 10.5% |
| May | $23,095,542 | $3,019,311 | 13.1% |
| June | $19,121,331 | $1,309,834 | 6.9% |
| July | $15,492,757 | $2,026,548 | 13.1% |
| August | $18,650,802 | $3,231,851 | 17.3% |
| September | $31,376,072 | $6,639,776 | 21.2% |
| October | $39,663,586 | $5,309,436 | 13.4% |
| November | $219,071,374 | $30,620,539 | 14.0% |
| December | $497,121,656 | $85,168,804 | 17.1% |
Massachusetts Sports Betting Revenue
Massachusetts sports betting has had a strong start to the new year, surpassing the $6.4 billion total handle mark as of April 2024. The sportsbooks are pleased with a 9.4% hold rate in the first five months of 2024, especially considering that just a year earlier, the state opened its legal sports betting era with a negative hold in January 2023.
Massachusetts Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $3,037,025,356 | $284,015,138 | 9.4% |
| 2023 | $4,965,975,601 | $483,059,490 | 9.7% |
Massachusetts 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $651,747,269 | $72,718,240 | 11.2% |
| February | $542,480,675 | $53,860,585 | 9.9% |
| March | $658,740,415 | $47,840,193 | 7.3% |
| April | $601,732,077 | $50,593,502 | 8.4% |
| May | $587,433,477 | $59,002,616 | 10.0% |
Massachusetts 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $488,747 | (-$8,227) | (-1.7)% |
| February | $24,435,509 | $1,486,743 | 6.1% |
| March | $568,091,233 | $48,289,185 | 8.5% |
| April | $579,262,823 | $60,281,564 | 10.4% |
| May | $454,965,416 | $62,073,252 | 13.6% |
| June | $331,890,624 | $33,000,352 | 9.9% |
| July | $294,924,777 | $30,132,777 | 10.2% |
| August | $314,923,842 | $23,485,442 | 7.5% |
| September | $512,499,062 | $51,045,187 | 10.0% |
| October | $571,360,625 | $60,560,834 | 10.6% |
| November | $654,435,572 | $50,550,463 | 7.7% |
| December | $658,697,371 | $62,161,918 | 9.4% |
Michigan Sports Betting Revenue
Michigan remains one of the most reliable states in terms of handle, gross revenue, and tax revenue. It holds the 10th spot among all legal states in total handle, with a record of nearly $15 billion in sports wagering revenue. Each of the state’s 13 betting sites pays an 8.4% tax rate on their revenue.
Michigan Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,284,287,002 | $208,297,564 | 9.1% |
| 2023 | $4,810,903,876 | $434,348,364 | 9% |
| 2022 | $4,814,088,970 | $102,861,549 | 8.7% |
Michigan 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $601,585,141 | $48,177,009 | 8.0% |
| February | $415,816,758 | $30,356,706 | 7.3% |
| March | $497,622,752 | $43,534,858 | 8.7% |
| April | $414,426,339 | $43,437,160 | 10.5% |
| May | $354,836,011 | $42,766,351 | 12.1% |
Michigan 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $490,904,822 | $33,747,274 | 6.9% |
| February | $357,161,200 | $23,117,568 | 6.5% |
| March | $421,666,037 | $45,996,708 | 10.9% |
| April | $338,127,853 | $36,410,054 | 10.8% |
| May | $305,275,755 | $36,098,430 | 11.8% |
| June | $235,996,767 | $17,911,450 | 7.6% |
| July | $208,808,123 | $22,977,241 | 11.0% |
| August | $228,495,763 | $23,475,314 | 10.3% |
| September | $475,772,391 | $45,561,287 | 9.6% |
| October | $551,127,024 | $46,127,685 | 8.4% |
| November | $584,142,443 | $37,016,055 | 6.3% |
| December | $613,425,699 | $65,909,298 | 10.7% |
Michigan 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $532,681,710 | $36,608,569 | 6.9% |
| February | $423,768,381 | $21,630,857 | 5.1% |
| March | $477,967,947 | $32,404,415 | 6.8% |
| April | $396,009,819 | $32,608,465 | 8.2% |
| May | $356,130,390 | $35,913,103 | 10.1% |
| June | $292,389,429 | $15,813,098 | 5.4% |
| July | $224,966,256 | $22,874,718 | 10.2% |
| August | $229,797,476 | $24,655,179 | 10.7% |
| September | $383,102,602 | $50,409,621 | 13.2% |
| October | $504,336,507 | $51,324,376 | 10.2% |
| November | $498,118,043 | $42,709,152 | 8.6% |
| December | $494,820,409 | $50,437,156 | 10.2% |
Mississippi Sports Betting Revenue
In 2023, Mississippi sports betting experienced a decrease in activity, with a 12.2% drop in handle and an 18.7% decrease in gross revenue. The trend continued into the first three months of 2024, making a recovery challenging for Mississippi. However, there was a slight improvement in April compared to the previous year.
Mississippi Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $194,399,797 | $15,959,469 | 8.2% |
| 2023 | $474,275,129 | $51,224,141 | 11.2% |
| 2022 | $531,951,766 | $60,816,324 | 11.4% |
Mississippi 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $57,223,251 | $5,117,380 | 8.9% |
| February | $31,374,401 | $2,297,096 | 7.3% |
| March | $44,536,548 | $3,362,903 | 7.6% |
| April | $34,259,933 | $3,123,104 | 9.1% |
| May | $27,005,663 | $2,058,986 | 7.6% |
Mississippi 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $57,223,251 | $5,117,380 | 8.9% |
| February | $39,807,504 | $3,143,541 | 7.9% |
| March | $46,689,392 | $4,953,171 | 10.6% |
| April | $31,805,004 | $4,347,138 | 13.7% |
| May | $26,761,691 | $3,180,953 | 11.9% |
| June | $20,414,902 | $1,848,676 | 9.1% |
| July | $17,728,739 | $2,463,671 | 13.9% |
| August | $21,392,231 | $2,691,244 | 12.6% |
| September | $51,647,915 | $8,144,028 | 15.8% |
| October | $49,503,679 | $7,344,506 | 14.8% |
| November | $62,412,735 | $3,103,061 | 5.0% |
| December | $48,888,089 | $4,886,771 | 10.0% |
Mississippi 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $66,523,295 | $6,521,389 | 9.8% |
| February | $40,871,618 | $1,887,995 | 4.6% |
| March | $47,889,213 | $4,042,432 | 8.4% |
| April | $35,503,585 | $4,209,290 | 11.9% |
| May | $29,233,786 | $4,006,359 | 13.7% |
| June | $25,096,238 | $2,082,091 | 8.3% |
| July | $18,296,341 | $2,527,212 | 13.8% |
| August | $21,234,898 | $2,687,465 | 12.7% |
| September | $43,139,311 | $8,779,943 | 20.4% |
| October | $56,199,189 | $7,687,183 | 13.7% |
| November | $73,605,361 | $5,087,585 | 6.9% |
| December | $74,358,933 | $11,297,381 | 15.2% |
Montana Sports Betting Revenue
The sports betting scene in Montana may not rival that of bigger states, but The Treasure State has consistently seen significant tax revenue from its legal sports wagering industry. Montana has maintained hold rates over 13.5% in its first two years, with operators facing an 8.5% tax on their gross revenue.
Montana Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $27,505,328 | $2,850,235 | 10.4% |
| 2023 | $62,258,820 | $8,446,611 | 13.6% |
| 2022 | $50.918,515 | $7,173,449 | 13.9% |
Montana 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $5,863,499 | $852,106 | 14.5% |
| February | $4,702,532 | $253,229 | 5.4% |
| March | $6,588,001 | $500,562 | 7.6% |
| April | $5,486,090 | $644,653 | 11.8% |
| May | $4,865,206 | $599,685 | 12.3% |
Montana 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $7,139,581 | $979,495 | 13.7% |
| February | $4,366,807 | $560,668 | 12.8% |
| March | $5,784,045 | $925,542 | 16.0% |
| April | $5,201,964 | $633,005 | 12.2% |
| May | $4,457,829 | $666,686 | 15.0% |
| June | $3,353,974 | $282,263 | 8.4% |
| July | $2,587,209 | $560,046 | 21.6% |
| August | $3,221,337 | $337,442 | 10.5% |
| September | $6,204,965 | $676,451 | 10.9% |
| October | $6,787,517 | $1,102,195 | 16.2% |
| November | $6,996,429 | $717,423 | 10.2% |
| December | $6,157,163 | $1,005,395 | 16.3% |
Montana 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $5,117,844 | $669,464 | 13.1% |
| February | $3,631,705 | $705,841 | 19.4% |
| March | $3,981,218 | $671,606 | 16.9% |
| April | $3,243,425 | $389,693 | 12.0% |
| May | $3,236,702 | $382,130 | 11.8% |
| June | $2,911,455 | $274,694 | 9.4% |
| July | $2,560,000 | $274,000 | 10.7% |
| August | $2,975,100 | $440,591 | 14.8% |
| September | $4,940,321 | $975,542 | 19.7% |
| October | $5,319,627 | $681,222 | 12.8% |
| November | $5,782,523 | $777,488 | 13.4% |
| December | $7,218,595 | $931,178 | 12.9% |
Nevada Sports Betting Revenue
Although U.S. sports wagering has expanded beyond Nevada, the state’s sports betting industry remains the benchmark. Nevada sportsbooks offer unparalleled market selection and competitive odds, with a consistently low hold percentage that benefits players.
Nevada Yearly Revenue Data
| Year | Handle | Gross revenue | Hold % |
| 2024 | $3,364,795,426 | $209,230,000 | 6.2% |
| 2023 | $8,261,020,999 | $481,863,000 | 5.8% |
| 2022 | $8,708,466,264 | $446,698,000 | 5.1% |
Nevada 2024 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold % |
| January | $782,817,412 | $64,739,000 | 8.3% |
| February | $711,887,072 | $47,910,000 | 6.7% |
| March | $785,277,044 | $29,762,000 | 3.8% |
| April | $569,327,626 | $30,792,000 | 5.4% |
| May | $515,290,019 | $36,027,000 | 7.0% |
Nevada 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| Jan | $935,788,497 | $50,439,000 | 5.4% |
| Feb | $659,361,022 | $41,276,000 | 6.3% |
| Mar | $830,511,364 | $43,851,000 | 5.3% |
| Apr | $598,018,291 | $30,533,000 | 5.3% |
| May | $527,438,596 | $32,415,000 | 5.7% |
| June | $479,949,495 | $9,503,000 | 2.0% |
| July | $407,996,769 | $25,255,000 | 6.2% |
| Aug | $431,000,000 | $18,102,000 | 4.2% |
| Sept | $811,158,854 | $62,297,000 | 7.7% |
| Oct | $815,676,647 | $68,109,000 | 8.4% |
| Nov | $921,168,539 | $40,992,000 | 4.5% |
| Dec | $842,952,924 | $59,091,000 | 7.0% |
Nevada 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| Jan | $1,111,044,444 | $49,997,000 | 4.5% |
| Feb | $780,833,333 | $30,921,000 | 4.0% |
| Mar | $862,757,009 | $36,926,000 | 4.3% |
| Apr | $583,149,425 | $25,367,000 | 4.4% |
| May | $561,309,771 | $26,999,000 | 4.8% |
| Jun | $490,411,523 | $23,834,000 | 4.9% |
| Jul | $419,147,287 | $16,221,000 | 3.9% |
| Aug | $408,854,962 | $16,068,000 | 3.9% |
| Sep | $761,099,138 | $70,630,000 | 9.3% |
| Oct | $921,539,708 | $56,859,000 | 6.2% |
| Nov | $927,857,143 | $37,671,000 | 4.1% |
| Dec | $880,462,520 | $55,205,000 | 6.3% |
New Hampshire Sports Betting Revenue
Operators in the New Hampshire sports betting industry are seeing positive trends, with the hold rate increasing from 7.5% in 2022 to 9.7% in 2023 and continuing to rise towards double digits in the current year. This is especially important for sports betting sites in New Hampshire, as they are subject to a high 51% tax rate on revenue.
New Hampshire Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $268,027,631 | $27,322,760 | 10.2% |
| 2023 | $822,107,405 | $80,041,744 | 9.7% |
| 2022 | $891,727,581 | $66,714,382 | 7.5% |
New Hampshire 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $73,301,559 | $9,820,633 | 13.4% |
| February | $62,274,731 | $6,585,297 | 10.6% |
| March | $72,597,059 | $5,585,067 | 7.7% |
| April | $59,854,282 | $5,331,763 | 8.9% |
New Hampshire 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $97,163,182 | $12,317,536 | 12.7% |
| February | $86,999,460 | $7,112,917 | 8.2% |
| March | $103,390,747 | $4,828,031 | 4.7% |
| April | $65,083,883 | $6,670,481 | 10.2% |
| May | $52,137,614 | $7,042,470 | 13.5% |
| June | $39,707,739 | $4,372,429 | 11.0% |
| July | $36,929,342 | $3,511,867 | 9.5% |
| August | $38,765,940 | $3,344,212 | 8.6% |
| September | $66,848,811 | $6,178,362 | 9.2% |
| October | $77,838,541 | $8,781,951 | 11.3% |
| November | $78,491,464 | $8,228,924 | 10.5% |
| December | $78,750,682 | $7,652,564 | 9.7% |
New Hampshire 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $99,540,825 | $8,029,427 | 8.1% |
| February | $70,866,282 | $1,019,097 | 1.4% |
| March | $78,811,441 | $5,283,248 | 6.7% |
| April | $73,149,079 | $3,436,446 | 4.7% |
| May | $76,199,157 | $5,720,931 | 7.5% |
| June | $53,567,757 | $4,819,197 | 9.0% |
| July | $42,653,152 | $4,476,145 | 10.5% |
| August | $43,372,007 | $4,199,240 | 9.7% |
| September | $78,237,751 | $7,358,206 | 9.4% |
| October | $91,345,018 | $9,078,684 | 9.9% |
| November | $93,090,530 | $4,963,600 | 5.3% |
| December | $90,894,582 | $8,330,161 | 9.2% |
New Jersey Sports Betting Revenue
It is not unexpected that the state leading the charge to repeal PASPA is also one of the top performers in terms of sports betting handle and revenue. In 2023, New Jersey’s sports betting market generated nearly $12 billion in wagers, an increase from the previous year’s total of just under $11 billion. Currently, operators are taxed at a rate of 14.25%, but there are discussions among lawmakers to raise this to 30% as part of the upcoming state budget for 2024-25.
New Jersey Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $6,012,582,396 | $512,989,611 | 8.5% |
| 2023 | $11,972,240,548 | $1,006,587,566 | 8.4% |
| 2022 | $10,944,165,739 | $762,954,905 | 7.0% |
New Jersey 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,719,170,088 | $170,758,334 | 9.9% |
| February | $1,081,171,835 | $67,564,386 | 6.2% |
| March | $1,329,010,828 | $89,687,971 | 6.7% |
| April | $1,044,283,588 | $106,227,937 | 10.2% |
| May | $838,946,057 | $78,750,983 | 9.4% |
New Jersey 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,082,233,033 | $72,330,439 | 6.7% |
| February | $847,405,611 | $54,621,220 | 6.4% |
| March | $1,025,779,225 | $93,039,999 | 9.1% |
| April | $833,900,000 | $72,300,000 | 8.7% |
| May | $778,854,263 | $82,165,404 | 10.5% |
| June | $591,081,897 | $66,356,838 | 11.2% |
| July | $587,019,749 | $61,013,433 | 10.4% |
| August | $725,849,450 | $96,041,019 | 13.2% |
| September | $1,299,016,274 | $111,145,385 | 8.6% |
| October | $1,293,468,722 | $92,258,295 | 7.1% |
| November | $1,623,072,184 | $95,889,050 | 5.9% |
| December | $1,284,560,140 | $109,426,484 | 8.5% |
New Jersey 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,348,860,083 | $60,195,902 | 4.5% |
| February | $985,568,313 | $30,873,369 | 3.1% |
| March | $1,120,904,954 | $66,404,370 | 5.9% |
| April | $926,946,780 | $50,345,808 | 5.4% |
| May | $765,984,114 | $61,594,016 | 8.0% |
| June | $633,184,861 | $39,245,213 | 6.2% |
| July | $531,888,333 | $45,007,343 | 8.5% |
| August | $546,774,394 | $65,272,385 | 11.9% |
| September | $866,719,412 | $97,981,122 | 11.3% |
| October | $1,060,154,535 | $77,907,041 | 7.3% |
| November | $1,101,622,966 | $80,426,931 | 7.3% |
| December | $1,055,556,994 | $87,701,405 | 8.3% |
New York Sports Betting Revenue
Since its highly anticipated launch in January 2022, New York sports betting has been dominated by staggering figures. With over $43 billion generated in the first 28 months, operators have amassed a total gross revenue of $3.4 billion, all while being subjected to a hefty 50% tax rate. The industry in New York has undeniably made a significant impact compared to other states.
New York Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $9,547,477,197 | $883,368,954 | 9.3% |
| 2023 | $19,196,867,481 | $1,696,664,242 | 8.8% |
| 2022 | $16,288,073,161 | $1,367,052,768 | 8.4% |
New York 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,965,468,151 | $211,706,706 | 10.8% |
| February | $1,779,072,192 | $131,331,307 | 7.4% |
| March | $1,854,674,065 | $152,553,937 | 8.2% |
| April | $1,969,945,755 | $184,032,347 | 9.3% |
| May | $1,978,317,034 | $203,760,343 | 10.3% |
New York 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,799,048,366 | $149,886,749 | 8.3% |
| February | $1,474,299,933 | $108,281,940 | 7.3% |
| March | $1,792,885,346 | $163,582,117 | 9.1% |
| April | $1,550,014,914 | $138,820,564 | 8.5% |
| May | $1,363,794,316 | $152,643,135 | 11.2% |
| June | $1,170,989,676 | $103,956,641 | 8.9% |
| July | $966,555,215 | $105,510,884 | 10.9% |
| August | $1,118,163,959 | $99,241,793 | 8.9% |
| September | $1,767,913,850 | $166,834,225 | 9.4% |
| October | $2,017,133,483 | $167,327,704 | 8.3% |
| November | $2,122,331,713 | $151,291,344 | 7.1% |
| December | $2,053,736,710 | $189,287,146 | 9.2% |
New York 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,686,263,898 | $123,810,126 | 7.3% |
| February | $1,534,078,893 | $82,149,599 | 5.4% |
| March | $1,644,789,692 | $114,956,204 | 7.0% |
| April | $1,396,791,941 | $104,535,898 | 7.5% |
| May | $1,269,862,570 | $110,418,075 | 8.7% |
| June | $1,056,694,012 | $72,441,500 | 6.9% |
| July | $804,966,381 | $73,880,416 | 9.2% |
| August | $877,407,454 | $100,760,793 | 11.5% |
| September | $1,265,553,630 | $145,039,867 | 11.5% |
| October | $1,555,051,007 | $146,845,938 | 9.4% |
| November | $1,564,144,673 | $149,244,901 | 9.5% |
| December | $1,632,469,010 | $142,969,451 | 8.8% |
North Carolina Sports Betting Revenue
Sports betting in North Carolina officially began on March 11, 2024, and has shown promising results. In just three weeks, the state accumulated over $650 million in handle, with sportsbooks experiencing double-digit holds in the first three months of operation.
North Carolina Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $1,822,648,143 | $234,828,233 | 12.9% |
North Carolina 2024 Monthly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| March | $659,308,541 | $66,496,213 | 10.1% |
| April | $643,653,645 | $105,251,673 | 16.4% |
| May | $521,747,982 | $63,080,347 | 12.1% |
Ohio Sports Betting Revenue
Ohio sports betting made a grand entrance, surpassing $1.1 billion in bets and $200 million in revenue in its debut month of January 2023. However, despite continuing to see strong numbers in its first 14 months, the state has not been able to match those initial figures. Ohio sportsbooks are subject to a high 33% tax rate.
Ohio Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $3,551,383,688 | $384,989,642 | 10.8% |
| 2023 | $7,670,544,772 | $936,365,302 | 12.2% |
Ohio 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $806,149,042 | $113,367,294 | 14.1% |
| February | $666,845,168 | $66,374,384 | 10.0% |
| March | $802,632,458 | $63,804,330 | 7.9% |
| April | $667,038,422 | $73,922,610 | 11.1% |
| May | $606,573,141 | $67,365,769 | 11.1% |
Ohio 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $1,114,101,739 | $209,037,382 | 18.8% |
| February | $639,795,553 | $82,879,568 | 13.0% |
| March | $738,613,175 | $95,313,123 | 12.9% |
| April | $521,703,584 | $63,819,857 | 12.2% |
| May | $447,477,360 | $57,828,887 | 13.0% |
| June | $363,066,723 | $32,559,655 | 9.0% |
| July | $331,083,998 | $37,094,807 | 11.2% |
| August | $378,788,183 | $40,722,424 | 10.8% |
| September | $691,660,975 | $81,637,995 | 11.8% |
| October | $747,662,730 | $80,384,455 | 10.8% |
| November | $865,465,266 | $67,853,190 | 7.8% |
| December | $831,125,486 | $87,233,959 | 10.5% |
Oregon Sports Betting Revenue
The 2023 NFL season was a game-changer for sports betting in Oregon, as it experienced its highest overall handle in five months from October 2023 to February 2024. This is particularly good news for DraftKings, which exclusively operates mobile betting in Oregon and benefits from a low 2.3% tax rate on revenue in the state.
Oregon Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $279,488,165 | $32,354,299 | 11.6% |
| 2023 | $635,565,166 | $75,663,580 | 11.2% |
| 2022 | $497,985,326 | $49,519,545 | 9.9% |
Oregon 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $69,889,711 | $9,898,882 | 14.2% |
| February | $67,902,926 | $7,786,240 | 11.5% |
| March | $69,398,182 | $7,298,922 | 10.5% |
| April | $72,297,347 | $7,370,254 | 10.2% |
Oregon 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $62,328,293 | $7,546,966 | 12.1% |
| February | $48,425,409 | $4,261,284 | 8.8% |
| March | $50,456,710 | $6,088,343 | 12.1% |
| April | $55,167,184 | $7,051,980 | 12.8% |
| May | $52,122,283 | $6,462,472 | 12.4% |
| June | $43,861,20 | $4,336,368 | 9.9% |
| July | $40,428,203 | $4,150,625 | 10.3% |
| August | $44,542,070 | $3,507,634 | 7.9% |
| September | $61,354,332 | $6,720,396 | 11.0% |
| October | $71,903,468 | $8,545,270 | 11.9% |
| November | $71,231,497 | $7,292,147 | 10.2% |
| December | $73,219,597 | $9,700,095 | 13.2% |
Oregon 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $42,899,735 | $2,389,280 | 5.6% |
| February | $39,458,431 | $3,335,165 | 8.5% |
| March | $36,208,011 | $3,620,610 | 10.0% |
| April | $42,936,415 | $3,824,165 | 8.9% |
| May | $41,708,884 | $5,034,036 | 12.1% |
| June | $33,966,896 | $2,548,192 | 7.5% |
| July | $28,453,075 | $2,700,447 | 9.5% |
| August | $28,196,193 | $2,707,041 | 9.6% |
| September | $39,292,037 | $5,465,182 | 13.9% |
| October | $55,555,464 | $5,783,452 | 10.4% |
| November | $55,503,996 | $6,418,578 | 11.6% |
| December | $53,806,189 | $5,693,397 | 10.6% |
Pennsylvania Sports Betting Revenue
Pennsylvania is ranked fifth in revenue generation since the repeal of PASPA, with over $2.3 billion generated from sports betting on a total handle of $28.1 billion. The state benefits from a highly competitive market, boasting 12 operating betting sites despite a high tax rate of 36%.
Pennsylvania Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,966,672,712 | $270,873,388 | 9.1% |
| 2023 | $7,682,694,849 | $686,856,678 | 8.9% |
| 2022 | $7,251,428,759 | $597,364,960 | 8.2% |
Pennsylvania 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $858,152,502 | $97,681,399 | 11.4% |
| February | $661,740,812 | $50,425,678 | 7.6% |
| March | $800,718,331 | $63,715,603 | 8.0% |
| April | $646,061,065 | $59,050,708 | 9.1% |
Pennsylvania 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $772,289,648 | $57,982,069 | 7.5% |
| February | $599,529,429 | $62,214,502 | 10.4% |
| March | $723,545,806 | $66,465,774 | 9.2% |
| April | $572,152,803 | $51,786,464 | 6.5% |
| May | $495,585,360 | $57,533,744 | 11.6% |
| June | $373,171,415 | $33,866,725 | 9.1% |
| July | $338,450,263 | $39,406,353 | 11.6% |
| August | $393,007,298 | $30,614,565 | 7.8% |
| September | $726,259,712 | $66,109,574 | 9.1% |
| October | $829,002,595 | $73,631,197 | 8.9% |
| November | $934,130,152 | $49,147,979 | 5.3% |
| December | $925,570,368 | $98,097,732 | 10.6% |
Pennsylvania 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $793,722,787 | $53,403,655 | 6.7% |
| February | $597,064,049 | $22,160,553 | 3.7% |
| March | $714,976,578 | $48,512,264 | 6.8% |
| April | $572,817,741 | $49,083,331 | 8.6% |
| May | $493,350,519 | $47,828,553 | 9.7% |
| June | $393,494,222 | $22,889,554 | 5.8% |
| July | $336,507,932 | $33,226,517 | 9.9% |
| August | $363,046,972 | $42,185,145 | 11.6% |
| September | $645,242,681 | $75,319,093 | 11.7% |
| October | $797,124,732 | $61,519,576 | 7.7% |
| November | $789,230,672 | $69,997,949 | 8.9% |
| December | $754,849,873 | $71,238,770 | 9.4% |
Rhode Island Sports Betting Revenue
Despite having a population of just over 1.1 million people, Rhode Island’s sports betting has only provided a small increase to the state’s tax revenue. In contrast to other legal betting jurisdictions that saw growth in 2023, Rhode Island experienced a significant decrease of 15.4% in handle and a 22.4% drop in revenue.
Rhode Island Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $203,424,235 | $17,075,673 | 8.4% |
| 2023 | $461,553,426 | $40,277,816 | 8.7% |
| 2022 | $532,609,814 | $49,298,062 | 9.3% |
Rhode Island 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $44,808,686 | $4,999,921 | 11.2% |
| February | $38,758,578 | $2,888,343 | 7.5% |
| March | $44,895,394 | $3,103,076 | 6.9% |
| April | $37,709,038 | $2,740,781 | 7.3% |
| May | $37,252,539 | $3,343,552 | 9.0% |
Rhode Island 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $62,317,384 | $5,164,799 | 8.3% |
| February | $43,065,996 | $3,612,113 | 8.4% |
| March | $41,546,643 | $3,968,567 | 9.6% |
| April | $37,496,094 | $3,009,679 | 8.0% |
| May | $30,754,497 | $3,898,405 | 12.7% |
| June | $23,723,659 | $1,783,530 | 7.5% |
| July | $20,238,844 | $1,896,983 | 9.4% |
| August | $22,742,561 | $1,365,807 | 6.0% |
| September | $37,645,368 | $3,472,089 | 9.2% |
| October | $45,840,376 | $4,545,634 | 9.9% |
| November | $48,277,794 | $3,413,200 | 7.1% |
| December | $47,904,210 | $4,147,010 | 8.7% |
Rhode Island 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $58,614,487 | $5,228,277 | 8.9% |
| February | $42,143,261 | $3,566,393 | 8.5% |
| March | $45,766,958 | $3,738,223 | 8.2% |
| April | $40,186,632 | $2,632,134 | 6.5% |
| May | $41,103,489 | $2,336,733 | 5.7% |
| June | $34,229,823 | $2,352,896 | 6.9% |
| July | $25,208,531 | $2,872,076 | 11.4% |
| August | $27,744,694 | $3,000,421 | 10.8% |
| September | $41,670,257 | $6,361,823 | 15.3% |
| October | $55,527,937 | $6,156,914 | 11.1% |
| November | $61,208,319 | $4,862,856 | 7.9% |
| December | $59,205,426 | $6,189,316 | 10.5% |
South Dakota Sports Betting Revenue
While South Dakota may not have the highest sports betting numbers in the country, the state’s figures are certainly the most intriguing. Since legalizing sports betting, South Dakota has experienced extreme fluctuations in monthly hold rates. In just two years, operators have seen hold rates fluctuate drastically, from a high of 29.7% in September 2022 to a low of -5.5% in February 2024.
South Dakota Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $3,806,101 | $187,351 | 4.9% |
| 2023 | $9,088,690 | $1,009,930 | 11.1% |
| 2022 | $7,192,828 | $871,511 | 12.1% |
South Dakota 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $868,815 | $94,755 | 10.9% |
| February | $696,016 | (-$38,405) | (-5.5)% |
| March | $1,242,270 | $91,215 | 7.3% |
| April | $503,508 | (-$11,700) | (-2.3%) |
| May | $495,491 | $51,486 | 10.4% |
South Dakota 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $910,312 | $123,365 | 13.6% |
| February | $771,137 | $82,853 | 10.7% |
| March | $923,904 | $161,368 | 17.5% |
| April | $493,045 | $22,503 | 4.6% |
| May | $528,562 | $22,536 | 4.3% |
| June | $417,025 | (-$9,254) | (-2.2)% |
| July | $413,368 | $20,087 | 4.9% |
| August | $518,052 | $37,453 | 7.2% |
| September | $979,694 | $170,129 | 17.4% |
| October | $1,021,660 | $174,906 | 17.1% |
| November | $967,994 | $49,887 | 5.2% |
| December | $1,143,938 | $154,098 | 13.5% |
South Dakota 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $835,252 | $82,291 | 9.9% |
| February | $685,631 | $71,807 | 10.5% |
| March | $975,347 | $32,389 | 3.3% |
| April | $368,517 | (-$13,735) | (-3.7)% |
| May | $307,995 | $25,102 | 8.2% |
| June | $301,217 | $27,869 | 9.3% |
| July | $259,180 | $16,143 | 6.2% |
| August | $266,673 | $59,053 | 22.1% |
| September | $711,577 | $211,612 | 29.7% |
| October | $862,170 | $131,749 | 15.3% |
| November | $861,660 | $75,856 | 8.8% |
| December | $757,610 | $151,374 | 20.0% |
Tennessee Sports Betting Revenue
Tennesseans have enthusiastically embraced betting on their favorite sports teams, resulting in the state’s sports betting industry ranking just shy of the top 10 in both total handle ($12.9 billion) and revenue ($1.27 billion). This has led to over $220 million in tax revenue being generated. Tennessee, which allows betting exclusively through mobile platforms, is home to twelve operators, each of whom are required to pay a 20% tax on their gross gaming revenue.
Starting in July 2023, operators in Tennessee must keep a 10% hold.
Tennessee Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,079,920,725 | $207,992,072 | 10.0% |
| 2023 | $4,292,352,235 | $451,028,296 | 10.5% |
| 2022 | $3,850,547,906 | $378,409,891 | 9.8% |
Tennessee 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $467,403,058 | $46,740,306 | 10.0% |
| February | $380,390,401 | $38,039,040 | 10.0% |
| March | $473,595,403 | $47,359,540 | 10.0% |
| April | $380,904,093 | $38,090,409 | 10.0% |
| May | $379,220,245 | $37,922,025 | 10.0% |
Tennessee 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $410,773,606 | $41,392,586 | 10.1% |
| February | $327,326,201 | $33,943,931 | 10.4% |
| March | $392,667,304 | $45,506,700 | 11.6% |
| April | $318,416,216 | $34,257,592 | 10.8% |
| May | $279,794,996 | $37,097,192 | 13.3% |
| June | $230,337,515 | $25,526,655 | 11.1% |
| July | $214,114,055 | $21,411,406 | 10.0% |
| August | $243,456,822 | $24,345,682 | 10.0% |
| September | $418,063,447 | $41,806,345 | 10.0% |
| October | $445,192,913 | $44,519,291 | 10.0% |
| November | $517,141,377 | $51,714,138 | 10.0% |
| December | $495,067,783 | $49,506,778 | 10.0% |
Tennessee 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $386,059,756 | $36,249,453 | 9.4% |
| February | $313,298,305 | $20,945,018 | 6.7% |
| March | $370,230,004 | $26,520,468 | 7.2% |
| April | $292,796,670 | $26,142,800 | 8.9% |
| May | $261,582,468 | $27,315,928 | 10.4% |
| June | $215,774,186 | $15,855,649 | 7.3% |
| July | $182,769,323 | $18,174,226 | 9.9% |
| August | $205,863,860 | $27,200,883 | 13.2% |
| September | $336,933,437 | $46,285,200 | 13.7% |
| October | $405,337,575 | $37,295,159 | 9.2% |
| November | $439,456,908 | $47,248,222 | 10.8% |
| December | $440,445,414 | $49,176,885 | 11.2% |
Vermont Sports Betting Revenue
Vermont’s sports betting industry is one of the most recent additions to the U.S., having commenced in early 2024. The initial results have been positive, with a 12.7% hold percentage in the first five months. DraftKings, FanDuel, and Fanatics Underscoreg are the inaugural sportsbooks to enter the Vermont market, each subject to a 20% tax rate.
Vermont Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $85,056,470 | $10,761,755 | 12.7% |
Vermont 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $19,913,914 | $4,211,197 | 21.1% |
| February | $21,249,828 | $2,547,167 | 12.0% |
| March | $19,935,678 | $1,514,552 | 7.6% |
| April | $14,109,291 | $1,492,655 | 10.6% |
| May | $9,847,757 | $996,083 | 10.1% |
Virginia Sports Betting Revenue
Virginia’s sports betting industry is flourishing, with 16 operators currently in the market and more expected to join. The state has quickly become a major player in the wagering space, ranking ninth in all-time betting handle at $16.1 billion since its launch in 2021.
Virginia Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $2,897,701,166 | $292,309,256 | 10.1% |
| 2023 | $5,590,022,862 | $560,201,501 | 10% |
| 2022 | $4,914,954,449 | $481,245,370 | 9.8% |
Virginia 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $652,879,750 | $74,337,290 | 11.4% |
| February | $545,068,429 | $50,040,797 | 9.2% |
| March | $635,593,137 | $47,694,659 | 7.5% |
| April | $563,495,540 | $60,594,585 | 10.8% |
| May | $505,594,450 | $59,966,999 | 11.9% |
Virginia 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $513,154,592 | $49,721,327 | 9.7% |
| February | $433,807,108 | $39,766,908 | 9.2% |
| March | $511,614,541 | $55,258,910 | 10.8% |
| April | $425,982,859 | $45,121,878 | 10.6% |
| May | $403,719,160 | $48,144,550 | 11.9% |
| June | $325,455,052 | $32,668,024 | 10.0% |
| July | $293,611,789 | $32,471,396 | 11.1% |
| August | $319,005,942 | $32,359,888 | 10.1% |
| September | $520,304,187 | $54,081,414 | 10.4% |
| October | $571,354,817 | $63,996,952 | 11.2% |
| November | $638,831,057 | $43,003,244 | 6.7% |
| December | $633,181,758 | $63,607,010 | 10.0% |
Virginia 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $485,544,417 | $39,050,067 | 8.0% |
| February | $401,889,135 | $27,508,998 | 6.8% |
| March | $469,484,017 | $33,700,016 | 7.2% |
| April | $399,478,366 | $36,275,264 | 9.1% |
| May | $351,452,931 | $42,537,524 | 12.1% |
| June | $295,235,271 | $25,965,182 | 8.8% |
| July | $266,001,583 | $26,024,408 | 9.8% |
| August | $284,671,331 | $36,978,897 | 13.0% |
| September | $411,273,323 | $53,822,282 | 13.1% |
| October | $528,029,938 | $51,164,199 | 9.7% |
| November | $518,818,987 | $57,531,255 | 11.1% |
| December | $503,075,150 | $50,687,278 | 10.1% |
West Virginia Sports Betting Revenue
The sports betting landscape in West Virginia is not as positive as operators had hoped. The state experienced a significant decrease of almost $90 million in handle from 2022 to 2023, leading to a $3.1 million decline in gross revenue. Early trends in 2024 indicate that the nine sports betting sites in the state may struggle to maintain their current level of success.
West Virginia Yearly Revenue Data
| Year | Handle | Gross Revenue | Hold |
| 2024 | $206,513,400 | $21,865,732 | 10.6% |
| 2023 | $483,227,416 | $47,723,640 | 9.9% |
| 2022 | $571,317,847 | $50,822,382 | 8.9% |
West Virginia 2024 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $50,562,352 | $6,472,411 | 12.8% |
| February | $39,271,363 | $3,545,480 | 9.0% |
| March | $47,219,129 | $4,411,150 | 9.3% |
| April | $36,508,941 | $3,729,072 | 10.2% |
| May | $32,951,615 | $3,707,617 | 11.3% |
West Virginia 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $49,384,637 | $4,019,360 | 8.1% |
| February | $39,740,983 | $2,726,640 | 6.9% |
| March | $45,538,667 | $4,469,377 | 9.8% |
| April | $40,827,987 | $3,107,176 | 7.6% |
| May | $35,140,815 | $3,849,530 | 11.0% |
| June | $23,695,286 | $2,053,727 | 8.7% |
| July | $22,301,062 | $2,719,702 | 12.2% |
| August | $23,959,192 | $2,595,871 | 10.8% |
| September | $44,472,879 | $4,333,428 | 9.7% |
| October | $47,737,777 | $6,376,269 | 13.4% |
| November | $56,419,080 | $5,155,090 | 9.1% |
| December | $54,009,052 | $6,317,472 | 11.7% |
West Virginia 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $65,125,042 | $4,528,101 | 7.0% |
| February | $48,476,816 | $1,904,490 | 3.9% |
| March | $55,672,438 | $3,117,541 | 5.6% |
| April | $38,655,331 | $3,067,780 | 7.9% |
| May | $40,439,679 | $3,748,227 | 9.3% |
| June | $30,145,409 | $2,066,930 | 6.9% |
| July | $25,769,135 | $2,706,044 | 10.5% |
| August | $28,553,358 | $3,455,974 | 12.1% |
| September | $49,859,709 | $7,217,919 | 14.5% |
| October | $56,968,266 | $5,427,011 | 9.5% |
| November | $72,947,153 | $5,521,747 | 7.6% |
| December | $58,705,514 | $8,060,617 | 13.7% |
Wyoming Sports Betting Revenue
Wyoming is off to a great start in 2024 with sports betting revenue reaching $7.8 million in the first four months. This puts the state on track to exceed last year’s total of $17.3 million. BetMGM, Caesars, FanDuel, and DraftKings are all active in Wyoming and each pay a 20% tax on their gross gaming revenue.
Wyoming Yearly Revenue Data
| Year | Handle | Gross revenue | Hold % |
| 2024 | $81,409,984 | $9,491,806 | 11.7% |
| 2023 | $172,247,303 | $17,293,649 | 10% |
| 2022 | $144,525,803 | $14,790,230 | 10.2% |
Wyoming 2024 Monthly Revenue Data
| Month | Handle | Gross revenue | Hold |
| January | $20,272,552 | $2,662,549 | 13.1% |
| February | $15,511,285 | $1,946,593 | 12.5% |
| March | $17,690,741 | $1,718,721 | 9.7% |
| April | $15,428,621 | $1,499,242 | 9.7% |
| May | $12,506,784 | $1,664,699 | 13.3% |
Wyoming 2023 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $14,339,351 | $1,587,273 | 11.1% |
| February | $11,591,163 | $1,105,841 | 9.5% |
| March | $14,777,639 | $1,837,412 | 12.4% |
| April | $12,623,675 | $1,264,212 | 10.0% |
| May | $12,778,371 | $1,306,929 | 10.2% |
| June | $9,483,450 | $775,389 | 8.2% |
| July | $8,145,480 | $998,740 | 12.3% |
| August | $10,464,584 | $1,207,821 | 11.5% |
| September | $19,259,607 | $1,525,986 | 7.9% |
| October | $21,234,828 | $2,271,665 | 10.7% |
| November | $18,525,420 | $1,562,756 | 8.4% |
| December | $19,023,734 | $1,849,624 | 9.7% |
Wyoming 2022 Monthly Revenue Data
| Month | Handle | Gross Revenue | Hold |
| January | $13,977,632 | $1,098,460 | 7.9% |
| February | $10,301,603 | $722,631 | 7.0% |
| March | $12,704,938 | $1,104,236 | 8.7% |
| April | $9,999,592 | $1,007,796 | 10.1% |
| May | $9,340,833 | $1,011,714 | 10.8% |
| June | $7,322,852 | $673,269 | 9.2% |
| July | $7,246,352 | $680,740 | 9.4% |
| August | $10,990,904 | $1,237,815 | 11.3% |
| September | $13,575,173 | $1,932,519 | 14.2% |
| October | $17,275,317 | $2,039,620 | 11.8% |
| November | $16,702,867 | $1,478,158 | 8.8% |
| December | $15,087,739 | $1,803,272 | 12.0% |
States with Potential to Legalize Sports Betting
Although the majority of U.S. states have legalized sports wagering, there are still a few states that have not yet done so. Here is an overview of the states that may potentially legalize sports betting in the future.
Future of US Sports Betting Revenue
What factors will influence the future of sports betting handles, revenues, and hold percentages in the United States?
Additional States Legalize Sports Betting: Currently, sports betting is legal in 38 states and districts, most of which are open to business from top sports betting apps. Although there are no imminent states expected to join this group, there is a possibility of further legalization in late 2024 or 2025, leading to an increase in potential revenue.
New betting markets are constantly being introduced across a variety of sports, but some, like college player props, are being removed by legislators due to ongoing issues with player harassment. These developments have the potential to significantly impact sportsbooks’ earnings.
Additional Betting Choices: Following the completion of Phase 1 in the development of sports betting in the U.S. (which focused on attracting and keeping players), the industry is now entering Phase 2: a period of innovation. This phase will bring about new opportunities for both players and sportsbooks, including unique parlay options, expanded coverage of less popular sports, and a greater focus on microbetting.
Rising Fame: The unpredictability of U.S. sports betting is the main concern. Although there have been instances of increased betting due to popular figures like Taylor Swift, controversial betting practices have tarnished the industry’s reputation. More incidents are likely to impact sports betting revenues negatively.
Decreased Promotion Expenditure: The availability of numerous top sportsbook promotions contributed to a rapid increase in new sign-ups, but this trend may be slowing down. As only a few states have yet to introduce sports betting, and many of the leading sports betting websites have reduced their promotional budgets, attracting new customers could become more challenging in the future.
Glossary of Betting Market Terms
Definition: The term “handle” represents the aggregate sum of money bet by individuals on a specific event or sequence of events. It is a frequently utilized term in the realm of sports betting, horse racing, and various other gambling activities.
Total revenue in sports betting, known as gross revenue, is the sum of all money collected from bettors by a sportsbook or betting operator through wagers, minus the amount paid out to winning bets. This figure reflects the overall revenue earned by the sportsbook prior to subtracting costs like operating expenses, taxes, and additional fees.
The “hold” is the percentage of total wagers that the sportsbook retains as profit after paying out winning bets. It is calculated by dividing the sportsbook’s gross revenue (total amount collected from losing bets) by the total amount of money wagered.
Tickets, also referred to as receipts, denote the total number of bets made within a certain time frame or on a specific type of bet or market. The value of the bet does not affect the ticket count.
