- Americans have bet over $70 billion on sports since 2018 and the repeal of PASPA.
- It’s possible that the gross total handle could break $100 billion before 2022.
LAS VEGAS – Sports betting has grown into a thriving financial juggernaut of an industry in the United States in the past couple of years, and Americans have been betting billions of dollars on sporting events to prove this to be true.
How Much Do Americans Bet On Sports?
It’s no secret that the sports betting market has exploded in popularity in the last few years, but the degree to which it has grown has never been so apparent.
All of the conversation surrounding sports betting recently has begged the question, just how much do Americans bet on sports?
By compiling all of the revenue from every state’s regulated sportsbooks we see that in total that over $70 billion has been legally wagered on sports in the United States since June 2018 after the repeal of PASPA.
Top Three Sports Betting State Handles
- New Jersey $17,981,013,829
- Nevada $16,836,309,694
- Pennsylvania $8,773,726,390
These three states together add up to $42 billion in bets placed, which accounts for 58% of the nation’s $70 billion total handle.
A Wealth Of Sports Betting Potential
It’s clear that the US sports betting industry is not only here to stay but continues to grow daily.
“There’s no way around it. The U.S. represents the biggest regulated online gaming opportunity in recent history,” said Yaniv Sherman, U.S. head of the sports betting platform 888 Holdings Plc.
As the regulated sports betting markets expand across the country, that $70 billion in handle could potentially break $100 billion before 2022.
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