Between 2018 and 2023, U.S. sportsbooks have taken in over $200 billion in bets. New Jersey, Nevada, and Illinois are among the top contributors, thanks in part to their early legalization. Sportsbooks have only held onto less than 5% of revenue in only Kansas and … Read more
Hold rates in September are always high but three top producing states are showing historically high hold rates. This means bettors aren’t winning well, giving more money to the sportsbooks and local governments. NEW YORK – As the fall returns, so does football and its … Read more
Sportsbooks posting the highest hold percentages are found in states without mobile sports betting. But, states with mobile-only sports betting aren’t seeing better bettors across the US industry. States with professional sports teams could play more of a factor than mobile betting access. DOVER, Del. … Read more
New York is the fifth state to break the $10 billion total betting handle marker. October could be the first month that any state breaks over $2 billion handled in a month. GeoComply data suggest New York would be the first to do so. NEW … Read more
States like Colorado have explicit instructions on where sports betting taxes go. Other states just link all sports betting taxes to their general fund. This includes funding for education programs, infrastructure, and problem gambling help. LAS VEGAS – Since the repeal of PASPA in 2018, … Read more
Pennsylvania, Illinois, New York and New Jersey have contributed over $1 billion to local governments from sports betting taxes. Nevada sports bettors hold the best win rate (5.65%), while Montana sportsbooks see bettors lose at the US’s worst rate (13.5%). WASHINGTON – Nationwide, sports betting … Read more
FanDuel Sportsbook launched in Washington DC in mid-July, but still, put up a respectable handle while dominating other sportsbooks when comparing rate statistics. Despite factors working against long-term exponential growth, FanDuel is likely to grow its revenue within the nation’s capital due to football season … Read more
New York’s online betting market has surpassed $9.3 billion in bets in its first six months of being live. This total handle is more than the $8 billion wagered in the first full year of US-regulated betting post PASPA. July 2022 marked the first month … Read more
The sports betting bill in Massachusetts has a 20% tax rate for online betting and a 15% tax rate for retail betting. The tax revenue of legal sports betting in MA will be divided into five different funds, and operators will be charged a $100,000 … Read more
New York has reported six straight months of a $1b million handle. Arizona surpassed $4 billion in under a year’s time. Without many mobile sportsbooks, a few states have yet to reach the $1b billion level. PHOENIX – Over four years since the repeal of … Read more
The Connecticut Department of Consumer Protection reported that $95.4 million was wagered on sports in June 2022. This betting total pushed the lifetime betting handle in Connecticut to $1.08 billion. Connecticut is now only the 18th state to surpass $1 billion in lifetime betting handle. … Read more
Ohio sports betting revenue will now be used to aid local veterans with the creation of the Ohio Sports Gaming Profit Veterans Fund. This will see an estimated $70,000 per year to aid the Ohio Veterans Homes in the Buckeye State. The funds will be … Read more