New York’s 51% sportsbook tax rate has allowed the state to collect over $3 billion from sports betting since its launch. States with similar betting handles are nowhere close to this figure due to their lower tax rate (New Jersey: $675 million in taxes collected). … Read more
States are cashing in on record revenue but asking whether the public is getting shortchanged from sports betting taxes. Tax policy debates from Ohio to Louisiana are exposing fault lines between industry profits and public benefit. Lawmakers nationwide are rethinking the deals that brought sportsbooks … Read more
Bettors in New York, New Jersey, and Nevada have won more than $160 billion combined, nearly 35% of all legal sports betting payouts. Nevada boasts the highest win rate in the country at 94.2%, while Delaware ranks last with just 84.3%. LAS VEGAS – The … Read more
The U.S. has officially surpassed $500 billion in the amount of money bet at sportsbooks both in person and online since 2018. $149.6 billion was wagered in 2024 alone, reflecting 3,100% growth since PASPA’s repeal. New York leads all states with $69.13 billion in wagers … Read more
Indiana faces a projected $2 billion revenue shortfall over the next two years, forcing lawmakers to consider new revenue sources and potential budget cuts. With the state’s sports betting industry now taking in roughly $5 billion annually, raising Indiana’s low 9.5% tax rate is back … Read more
Nevada’s in-person sign-up rule for mobile betting limits its market share, recording the seventh-highest sports betting handle ($7.89 billion) in 2024. Eliminating in-person registration could boost mobile betting participation, letting them compete for the 4th spot in national sports betting rankings. LAS VEGAS – Nevada’s … Read more
Mississippi sportsbooks have taken in $3,021,531,031 in legal sports bets since their August 2018 launch. The industry has generated over $327 million in revenue and $39.3 million in tax benefits. Betting surged in early years, but the annual handle declined from 2022 to 2024, with … Read more
DraftKings reported a $200 million net loss in Q4 2024 despite a 13% revenue increase year-over-year, highlighting ongoing profitability challenges. The company secured a $500 million loan to fuel expansion, with a strong focus on iGaming as a potential path to future profits. Smaller sportsbooks … Read more
Colorado sportsbooks collected over $443 million in revenue after paying the state nearly $32 million in tax benefits during 2024. After seeing $5.1 billion in bets for 2022 and $5.5 billion for 2023, Colorado bettors broke the $6 billion marker in 2024. DENVER – Colorado’s … Read more
Basketball was the most bet on sport in Vermont for 2024. The first year of action saw VT sportsbooks collect nearly $200 million from sports bets. The State of Vermont received over $6.3 million in sports betting taxes from Year 1. Tennis saw a high … Read more
New York sportsbooks recorded $22.70 billion in sports bets accepted during 2024. This equated to $2.05 billion in sportsbook revenue before paying taxes to the state. Bettors won over $20.65 billion while New York claimed $1.04 billion in tax benefits. New York sports betting grew … Read more
Pennsylvania, Michigan, and many states in the South are breaking records for the amount of money bet on sports in their area. NEW ORLEANS – As 2024 draws to a close, several states with legal sports betting are celebrating record-breaking milestones in their betting handle. … Read more