- Nine states launched their legal sports betting industry in 2021, nearly a third of all states that have legalized and regulated a sports betting industry in the United States.
- Several states witnessed a large increase in sports betting revenue, handle, hold rate, and tax contributions, particularly over the final quarter of 2021.
TALLAHASSEE, Fla. – Since the fall of PASPA in 2018, more and more states have taken up the opportunity to regulate sports betting; as a result, sports betting has become one of the fastest-growing industries in the United States.
In 2021, the legal sports betting industry saw unprecedented growth.
Sports Betting Legislation In 2021
A total of nine separate states regulated legal sports betting in 2021; though not each of the states that passed sports betting legislation in 2021 launched this year.
This means nearly a third of the 30 states with a live legal sports betting industry launched this year.
States To Launch Legal Sports Betting In 2021
- Arizona – April 15, 2021
- Connecticut – September 30, 2021
- Louisiana – June 21, 2021
- North Carolina – March 18, 2021
- South Dakota – September 9, 2021
- Virginia – January 21, 2021
- Washington – September 9, 2021
- Wisconsin – November 30, 2021
- Wyoming – September 1, 2021
Sports Betting Revenue Figures In 2021
Sports betting has seen substantial growth in 2021 across the board. Some states, such as New Jersey, are seeing historically strong sports betting figures.
In the months of September, October, and November, New Jersey raked in over $1 billion in sports betting handle. In November, New Jersey saw a record $114.8 million in sports betting revenue – a strong 9.1% hold rate. This generated over $14.5 million in New Jersey sports betting tax revenue.
New Jersey is far from the only state to see historically strong sports betting figures in 2021. In November, Pennsylvania generated over $761 million in handle. With an extremely high tax rate of 51% of gross revenues, this equated to almost $30 million in taxes paid on sports betting in Pennsylvania.
Delaware sports betting was able to rally back from a disappointing summer, bringing in the highest monthly handle figure since 2018 during October. In the month, Delaware sportsbooks turned over a $22.2 million handle.
A very impressive 14% hold rate led to a $3.1 million revenue figure, generating $2.3 million in taxes.
Mississippi, Nevada, Arkansas, and a plethora of other states also saw historically high sports betting numbers, particularly in the final quarter of 2021.
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News tags: Arizona | Arkansas | Connecticut | Delaware | Louisiana | Mississippi | Nevada | New Jersey | North Carolina | PASPA | Pennsylvania | South Dakota | sports betting | United States | Virginia | Washington | Wisconsin | Wyoming
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.