- Arizona sportsbooks reported $513 million wagered in April 2022, bringing its lifetime total to over $4 billion.
- Tennessee also surpassed $4 billion in bets all time after reporting $261 million in May.
- New York handled over $7 billion in only five months of activity.
NEW YORK – There has been multiple sports betting milestones across several states recently. Both Tennessee and Arizona saw over $4 billion in lifetime wagers, New York saw $5 billion in just five months, and Virginia claimed $5 billion in over one year.
$4 Billion Markets
Arizona reported $512,877,847.67 in bets in April 2022. This pushed the total market beyond $4 billion since launch.
Arizona went live in September 2021; meaning it took less than a full year for AZ to see such a massive sports betting market. The market held 5.7%, securing $29,249,274.92 in sports betting revenue.
AZ is the seventh-largest sports betting market in 2022, with $2.2 billion in wagers through April. The market did not take long to be top 10 in the US after going live during the 2021-2022 NFL season.
Tennessee sportsbooks reported $261,582,468, which pushed them to $4.3 billion all time.
Tennessee sportsbooks went live in November 2020, so it took longer than the likes of Arizona to reach this feat. However, considering Tennessee is a mobile-only market that is less populated than AZ, this is still impressive.
Sportsbooks saw $23,832,288 in revenue with the state seeing $4,766,458 in taxes. Tennessee’s market has continued to grow every year since its launch.
Even Bigger Betting Markets
A $2.1 billion increase in betting handle in 2022 pushed Virginia to exceed $5 billion in betting handle since its launch
The Virginia Lottery reported $351,452,931 in wagers in May 2022 which is up 55% person compared to May 2021. In total, Virginians have wagered $5.3 billion combined.
There have now been just nine states to cross the $5 billion mark and VA managed this success without having retail sportsbooks life as of yet.
New York took no time to climb the sports betting ranks, taking only five months for its mobile market to see over $7 billion in bets. NY averages over $200 million in wagers weekly, with its first three consecutive months of activity reporting over $1 billion in bets.
June alone saw $1,003,480,080 in total betting handle, further pushing NY as the leading charge in legal sports betting in the US.
New York is only expected to see continued success in the coming months alongside these other US betting markets. Legal sports betting is showing no signs of slowing down.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.