Pennsylvania sportsbooks handled $111.4 million in wagers and earned $8.6 million in revenue in June, with a hold rate of 7.5%. Handle and revenue continue to increase rapidly every month as the sports betting industry recovers from the March crash caused by the coronavirus pandemic. … Read more
Mississippi casinos were able to reopen in late May and early June, leading to the first sports betting action in months. In June, Mississippi sportsbooks handled $1.6 million in sports bets and lost $62,230, a hold rate of -3.85% Although the amount of money lost … Read more
New Jersey totaled $165 million in sports betting handle and $12.6 million in revenue in June—monthly increases of 40% and 28%, respectively. Casinos began reopening in early July and major North American sports leagues are already returning to play, which should boost handle and revenue … Read more
The Big Ten and PAC-12 conferences have announced that their members will be playing exclusively conference games in Fall 2020. Other conferences will make their own decision on non-conference games in late July, but it is likely that nonconference games will either be limited or … Read more
It’s official: Colorado handled $25.5 million in wagers in May and collected $947,000 in revenue. Although the hold rate was lower than average, the total handle was the second-highest of any state in its sports betting debut month, even with the pandemic cutting into live … Read more
Indiana totaled a $29.8 million betting handle in June and collected $2.9 million in sports betting revenue. This raised $277,600 in state taxes. Handle was down 20% from May; revenue was also down 8%. It is strange to see betting handle and revenue decrease after … Read more
PrizePicks is a popular domestic daily fantasy sports operator. The company received $850,000 in bridge funding, a form of short-term private investment aid, in response to the COVID-19 pandemic. The investors for this bridge funding believe in the long-term potential of PrizePicks as a major … Read more
Churchill Downs Incorporated (CDI) has seen an overall 5% loss in the first quarter of 2020 when compared to 2019’s reports. CDI facilities across the country have been closed because of COVID-19 and Calder Casino, the horse racing track in Miami that was slated for … Read more
COVID-19 has created an estimated $615 billion hole in state budgets through public health expenses and lost tax revenues. Many states have turned to sports betting odds as one potential avenue to mitigate the economic losses caused by COVID-19. Since the near start of the … Read more
Nevada’s combined sports betting and poker revenues increased 61% in May, from $3.6 million in April up to $5.8 million. Exact betting figures, win rate, handle, etc. were once again redacted to comply with confidentiality laws. Gambling revenues in Nevada are trending up, but a … Read more
Rhode Island sportsbooks handled only $11.1 million in sports wagers and earned only $1 million in revenue between March 1 and May 31. This drastic decrease is largely the product of the state’s legal requirement that online betting accounts be registered in person. Casinos are … Read more
New Jersey’s sports betting industry had a $117.8 million betting handle and earned $9.9 million in revenue in May. These totals represent massive month-over-month increases from April, indicating that New Jersey sportsbooks are on the path to financial recovery from COVID-19. Major North American sports … Read more