Legal Sports Betting Revenue Tracker

Discussions regarding legal sports betting revenue is often frustratingly ambiguous, and can sometimes make it tough to discern whether someone is talking about the sportsbooks’ revenue or the state’s tax revenue from sports betting operations. This revenue tracker offers a one-stop-shop for anyone looking to learn more about the state-level economics of sports betting. It also covers some basic concepts of the economics of sports wagering, including the difference between revenue and handle, as well as a book’s hold percentage when available.

Many states that have legalized sports betting release monthly data on their overall handle and revenue. Besides tracking the total volume of money bet on sports in the United States, this page also has data on both the hold percentage and tax contributions of each state’s sports betting industry. The 20+ states that report so far each have different methods for accumulating and distributing data, but this page consolidates and standardizes each of these states’ reports for ease of understanding. This page will be updated as needed when new reports are released and more states pass legislation legalizing sports wagering.


Bovada Sportsbook

Getting Revenue From Bovada Tournament Odds

Bovada is one of the top March Madness betting sites out there as they offer plenty of game lines, futures odds and game props for the tournament. Last year, however, in 2020, there was no revenue made as March Madness was canceled due to the start of the COVID-19 pandemic. Looking back at the 2019 March Madness Tournament, it cleared $885 million in revenue as they hit an $8.5 billion betting handle. Bettors this year are shaping up to hit that $1 billion revenue mark once and for all. Looking at Bovada and the odds they offer which led to that high revenue mark, they offer futures odds, game props, game lines and more.

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Sports Betting Revenue By State

Sports betting has been regulated in 32 states (and Washington D.C.), is live in about two dozen, and there are more states having pending bills that could legalize sports betting in its legislation. Some of these states with regulated sports betting release updated figures monthly that detail the total revenue that is taken in through sports betting. Here at LegalSportsBetting, we use the revenue reports to give sports bettors a detailed look into the financial world of legal sports betting. These numbers come directly from the given state’s revenue reports, gaming commissions, and lottery commissions, therefore sports bettors can trust these numbers to be accurate. Sports betting is a constantly updating medium with more states legalizing the practice every year after seeing the added revenue gained from legal sports betting.

Nevada Sports Betting Revenue

Nevada Sports Betting Revenue - As one of the earliest states to have legal sports betting options, Nevada remains among the top revenue-generating states in the country. Although New Jersey has proven to be steep competition for the most profitable sports betting state, Nevada's nearly 200 licensed sportsbooks offer plenty of competition to keep it ahead. In 2020, the state pulled $285 million in revenue; an impressive total considering the state lost several months of revenue to the pandemic. However, the state's sportsbook operators are on track to do far better in 2021, handling over $950 million in January alone. Fortunately for sportsbook operators, the state tax is only 6.75% on sports betting revenue. The state uses the tax money made from sports betting and other forms of gaming for its state general fund, with a focus on education and health services.

NevadaHandleRevenueHoldState Tax
Aug 2021$427,425,369$14,342,0003.36%$968,085
Jul 2021$409,659,756$33,278,0008.12%$2,246,265
Feb 2021$742,953,328$46,213,8646.22%$3,119,436
Jan 2021$958,717,526$82,640,9798.62%$5,578,266
Dec 2020$996,300,794$66,386,5166.66%$4,481,090
Nov 2020$609,376,849$61,807,00010.14%$4,171,973
Oct 2020$659,899,331$42,388,0006.42%$2,861,190
Sep 2020$575,144,025$32,895,0005.72%$2,220,413
Aug 2020$474,948,414$16,985,0003.58%$1,146,488
Jul 2020$165,552,030$6,295,0003.8%$424,913
Jun 2020$78,152,387$-483,000-0.62%$-32,603
Mar 2020$141,108,201$1,455,0001.03%$98,213
Feb 2020$491,593,677$38,064,0007.74%$2,569,320
Jan 2020$502,233,930$20,152,0004.01%$1,360,260
Dec 2019$571,179,245$36,327,0006.36%$2,452,073
Nov 2019$614,118,812$31,013,0005.05%$2,093,378
Oct 2019$543,552,781$47,887,0008.81%$3,232,373
Sep 2019$546,358,867$52,068,0009.53%$3,514,590
Aug 2019$287,757,296$18,733,0006.51%$1,264,478
Jul 2019$235,659,955$10,534,0004.47%$711,045
Jun 2019$322,077,670$16,587,0005.15%$1,119,623
May 2019$317,380,282$11,267,0003.55%$760,523
Apr 2019$328,121,212$21,656,0006.6%$1,461,780
Mar 2019$596,752,294$32,523,0005.45%$2,195,303
Feb 2019$458,591,549$35,816,0007.81%$2,417,580
Jan 2019$497,482,993$14,626,0002.94%$987,255
Dec 2018$561,859,873$44,106,0007.85%$2,977,155
Nov 2018$581,070,664$27,136,0004.67%$1,831,680
Oct 2018$528,568,873$29,547,0005.59%$1,994,423
Sep 2018$571,034,483$56,304,0009.86%$3,800,520
Aug 2018$247,622,790$12,604,0005.09%$850,770
Jul 2018$244,638,554$4,061,0001.66%$274,118
Jun 2018$286,548,295$20,173,0007.04%$1,361,678
Since PASPA Repeal*$15,573,442,105$985,387,3596.33%$66,513,647
Delaware Sports Betting Revenue

Delaware Sports Betting Revenue - Delaware's annual reports are fairly consistent every year, with the third and fourth quarters of every year being wh ere the majority of the revenue comes fr om. Delaware has only managed to break $1 million in revenue once in 2021, that being the month of January. However, in previous years Delaware sports betting started generating millions in revenue starting in September with the NFL seasons and remains highly profitable until the season is done. The massive drop in wagering is likely due to an absence of online betting options, making the inconvenience of betting outside of high-profile seasons too high for Delaware residents. The unusually high 50% tax rate generated over $10 million in tax revenue which was then placed into the state's general fund.

DelawareHandleRevenueHoldState Tax
Sep 2021$13,702,755$3,202,53423.37%$1,601,267
Aug 2021$5,251,471$453,6428.64%$226,821
Jul 2021$4,110,581$633,08415.4%$316,542
Jun 2021$5,958,137$644,36610.81%$322,183
May 2021$7,060,911$677,4419.59%$338,721
Apr 2021$5,470,520$894,23116.35%$447,116
Mar 2021$6,666,115$965,41914.48%$482,710
Feb 2021$7,519,710$7,519,710100%$3,759,855
Jan 2021$15,649,254$2,491,09715.92%$1,245,549
Dec 2020$15,696,681$3,097,11519.73%$1,548,558
Nov 2020$19,510,093$5,901,51530.25%$2,950,758
Oct 2020$17,086,034$3,483,04520.39%$1,741,523
Sep 2020$12,439,302$1,972,19815.85%$986,099
Aug 2020$2,957,634$367,11612.41%$183,558
Jul 2020$209,282$12,1145.79%$6,057
Jun 2020$0$00%$0
May 2020$0$00%$0
Apr 2020$0$00%$0
Mar 2020$3,877,068$571,48614.74%$285,743
Feb 2020$7,031,079$159,8002.27%$79,900
Jan 2020$9,128,658$1,517,18716.62%$758,594
Dec 2019$13,283,636$1,613,07712.14%$806,539
Nov 2019$10,308,159$1,372,54013.32%$686,270
Oct 2019$9,621,404$1,736,58318.05%$868,292
Sep 2019$11,839,818$2,159,64318.24%$1,079,822
Aug 2019$4,419,488$505,00611.43%$252,503
Jul 2019$3,920,974$507,41012.94%$253,705
Jun 2019$6,325,464$466,7057.38%$233,353
May 2019$5,920,766$406,2936.86%$203,147
Apr 2019$6,088,183$615,77210.11%$307,886
Mar 2019$10,483,128$1,644,16415.68%$822,082
Feb 2019$8,487,867$22,1520.26%$11,076
Jan 2019$11,940,123$1,438,35712.05%$719,179
Dec 2018$16,079,670$2,149,61113.37%$1,074,806
Nov 2018$16,392,863$1,124,9796.86%$562,490
Oct 2018$14,738,223$448,5783.04%$224,289
Sep 2018$16,830,010$3,153,52918.74%$1,576,765
Aug 2018$7,721,851$706,7809.15%$353,390
Jul 2018$8,214,765$461,2265.61%$230,613
Jun 2018$7,003,725$875,21612.5%$437,608
Since PASPA Repeal*$348,945,402$55,970,72116.04%$27,985,361
New Jersey Sports Betting Revenue

New Jersey Sports Betting Revenue - Since 2018, New Jersey has only handled less than $100 million once, in June 2020. On average, sportsbooks tend to handle around $500 million most months. In January 2021, New Jersey handled $958 million, making it less than $50 million short of a $1 billion handle for a single month, and more than any other state handled in the same month. Thanks to the 11 retail sportsbooks, and statewide online betting options from more than a dozen online sportsbooks, New Jersey operators have generated over $365 million in revenue in the first two quarters of 2021 alone and are trending for it to be their most profitable year yet by a large margin. New Jersey has a 9.75% on retail sports betting revenue, and 14.25% on online revenue. Since sports betting launched in New Jersey, nearly $150 million has been collected in taxes, which are then placed into the Casino Revenue Fund.

New JerseyHandleRevenueHoldState Tax
Sep 2021$101,111,431$82,440,42081.53%$7,007,436
Aug 2021$664,675,859$52,023,0817.83%$4,421,962
Jul 2021$578,729,290$54,966,2579.5%$4,672,132
Jun 2021$766,888,420$71,267,5449.29%$6,057,741
May 2021$814,270,654$52,895,4306.5%$4,496,112
Apr 2021$747,986,522$54,839,2177.33%$4,661,333
Mar 2021$859,617,961$60,755,4727.07%$5,164,215
Feb 2021$742,953,328$46,213,8646.22%$3,928,178
Jan 2021$958,717,526$82,640,9798.62%$7,024,483
Dec 2020$996,300,794$66,386,5166.66%$5,642,854
Nov 2020$931,620,415$50,554,5355.43%$4,297,135
Oct 2020$803,096,172$58,508,6477.29%$4,973,235
Sep 2020$748,588,349$45,083,1786.02%$3,832,070
Aug 2020$667,979,150$39,507,1815.91%$3,358,110
Jul 2020$315,118,805$29,551,9879.38%$2,511,919
Jun 2020$165,014,553$12,639,0747.66%$1,074,321
May 2020$117,821,281$9,912,0628.41%$842,525
Apr 2020$54,593,092$2,634,0504.82%$223,894
Mar 2020$181,908,529$13,181,3717.25%$1,120,417
Feb 2020$494,813,807$16,934,5463.42%$1,439,436
Jan 2020$540,113,452$53,561,6269.92%$4,552,738
Dec 2019$557,786,161$31,278,9305.61%$2,658,709
Nov 2019$562,675,543$32,895,5465.85%$2,796,121
Oct 2019$487,924,504$46,393,5379.51%$5,685,164
Sep 2019$445,563,503$37,883,3758.5%$4,544,361
Aug 2019$293,594,862$25,210,3428.59%$3,006,897
Jul 2019$251,371,272$17,884,8007.11%$2,146,045
Jun 2019$273,222,975$9,701,9253.55%$1,136,890
May 2019$318,940,677$15,536,3844.87%$1,937,973
Apr 2019$313,719,562$21,215,7476.76%$2,548,364
Mar 2019$372,451,342$31,669,3878.5%$3,783,605
Feb 2019$320,368,087$12,732,7403.97%$1,660,591
Jan 2019$385,279,662$18,777,5824.87%$2,295,031
Dec 2018$319,173,548$20,834,8676.53%$2,430,242
Nov 2018$330,748,563$21,243,8656.42%$2,455,824
Oct 2018$260,711,301$11,686,1194.48%$1,391,082
Sep 2018$183,948,404$23,775,36612.93%$2,586,456
Aug 2018$95,634,048$9,198,2729.62%$922,401
Jul 2018$40,682,237$3,845,8809.45%$326,900
Jun 2018$16,409,619$3,458,66821.08%$293,987
Since PASPA Repeal*$18,082,125,260$1,351,720,3697.48%$125,908,890
Mississippi Sports Betting Revenue

Mississippi Sports Betting Revenue - Until recently Mississippi was the top sports betting state in the southeast, only having to contend with Arkansas, a state with enough regulations to remove its potential competition. With 26 legal sports betting options across the state, there are plenty of opportunities for sportsbooks to generate substantial revenue. Since Mississippi sportsbooks launched in 2018, they've handled over $1 billion. While 2020 revenue numbers were unstable due to the pandemic and location-locked mobile options, the first quarter of 2021 has proven very profitable for sportsbooks who made nearly $20 million in revenue in three months. Taxes from sports betting are allocated by the Mississippi Department of Revenue, who has directed the funds to road repairs, sewer systems, and other infrastructure projects.

MississippiHandleRevenueHoldState TaxCity Tax
Aug 2021$21,436,948$1,886,4058.8%$150,912$75,456
Jul 2021$30,659,426$2,887,6959.42%$231,016$115,508
Jun 2021$43,099,180$3,194,3177.41%$255,545$127,773
May 2021$36,125,896$3,888,29910.76%$311,064$155,532
Apr 2021$32,917,836$4,300,96813.07%$344,077$172,039
Mar 2021$50,546,886$5,237,03110.36%$418,962$209,481
Feb 2021$47,807,574$4,606,8409.64%$368,547$184,274
Jan 2021$67,707,628$9,114,48313.46%$729,159$364,579
Dec 2020$55,298,807$7,762,54214.04%$621,003$310,502
Nov 2020$54,443,370$8,108,10214.89%$648,648$324,324
Oct 2020$61,192,425$8,769,60014.33%$701,568$350,784
Sep 2020$52,220,289$6,598,93112.64%$527,914$263,957
Aug 2020$40,489,135$3,748,7329.26%$299,899$149,949
Jul 2020$7,916,665$1,335,76316.87%$106,861$53,431
Jun 2020$1,575,859$-62,230-3.95%$-4,978$-2,489
May 2020$236,503$87,69737.08%$7,016$3,508
Apr 2020$0$00%$0$0
Mar 2020$10,749,403$648,6476.03%$51,892$25,946
Feb 2020$34,462,822$2,105,8706.11%$168,470$84,235
Jan 2020$45,190,371$4,637,96710.26%$371,037$185,519
Dec 2019$49,076,413$3,478,9197.09%$278,314$139,157
Nov 2019$56,369,036$3,784,0716.71%$302,726$151,363
Oct 2019$48,019,481$12,295,35725.6%$983,629$491,814
Sep 2019$37,870,989$5,631,58314.87%$450,527$225,263
Aug 2019$19,876,370$2,884,34814.51%$230,748$115,374
Jul 2019$13,383,383$1,053,7767.87%$84,302$42,151
Jun 2019$15,190,666$1,625,11310.7%$130,009$65,005
May 2019$17,438,291$1,191,9576.84%$95,357$47,678
Apr 2019$19,188,763$2,057,83410.72%$164,627$82,313
Mar 2019$32,421,264$4,898,72515.11%$391,898$195,949
Feb 2019$25,148,134$2,756,43910.96%$220,515$110,258
Jan 2019$35,190,773$2,793,2377.94%$223,459$111,729
Dec 2018$41,762,048$6,174,22314.78%$493,938$246,969
Nov 2018$44,499,883$1,674,2503.76%$133,940$66,970
Oct 2018$32,837,333$1,178,3433.59%$94,267$47,134
Sep 2018$31,770,269$5,503,79217.32%$440,303$220,152
Aug 2018$6,270,127$645,05710.29%$51,605$25,802
Since PASPA Repeal*$1,220,390,246$138,484,68411.35%$11,078,775$5,539,387
West Virginia Sports Betting Revenue

West Virginia Sports Betting Revenue - Five online sportsbooks coupled with the income of five retail establishments have seen monthly revenue breaking $1 million monthly. Since then, West Virginia's monthly revenue has climbed as high as $6 million in December, with $218 million being handled in the first two quarters of 2021 generating $1.6 in tax dollars. The tax rate is 10%, and the tax revenue from sports betting is deposited in the Public Employees Insurance Agency Financial Stability Fund.

West VirginiaHandleRevenueHoldState Tax
Sep 2021$60,072,261$7,141,06611.89%$606,991
Aug 2021$22,350,089$1,993,3838.92%$169,438
Jul 2021$21,290,275$2,295,74310.78%$195,138
Jun 2021$29,923,766$3,466,22311.58%$294,629
May 2021$25,484,663$2,688,06510.55%$228,486
Apr 2021$34,449,520$2,844,0208.26%$241,742
Mar 2021$42,751,230$3,889,4479.1%$330,603
Feb 2021$38,212,775$1,364,1613.57%$115,954
Jan 2021$50,700,483$3,976,3587.84%$337,990
Dec 2020$70,134,202$6,466,1329.22%$549,621
Nov 2020$48,532,442$4,407,5769.08%$374,644
Oct 2020$44,633,016$3,742,7798.39%$318,136
Sep 2020$76,951,429$4,603,8115.98%$391,324
Aug 2020$45,897,001$2,337,2295.09%$198,664
Jul 2020$15,853,463$1,573,8459.93%$133,777
Jun 2020$6,338,618$567,8368.96%$48,266
May 2020$6,035,532$571,8319.47%$48,606
Apr 2020$1,901,698$124,4156.54%$10,575
Mar 2020$14,705,300$234,9721.6%$19,973
Feb 2020$48,474,168$821,6141.69%$69,837
Jan 2020$35,398,396$2,203,1896.22%$187,271
Dec 2019$30,343,333$2,322,9157.66%$197,448
Nov 2019$32,968,352$2,289,0566.94%$194,570
Oct 2019$37,022,626$3,156,8308.53%$268,331
Sep 2019$25,620,077$3,755,76014.66%$319,240
Aug 2019$10,743,386$1,527,32414.22%$129,823
Jul 2019$7,764,843$707,2149.11%$60,113
Jun 2019$7,634,979$379,2284.97%$32,234
May 2019$10,704,030$937,0658.75%$79,651
Apr 2019$10,334,722$617,7465.98%$52,508
Mar 2019$13,850,999$1,552,96211.21%$132,002
Feb 2019$16,609,597$-143,473-0.86%$-12,195
Jan 2019$22,431,187$1,460,5416.51%$124,146
Dec 2018$13,332,131$2,221,52116.66%$188,829
Nov 2018$13,020,483$1,371,80310.54%$116,603
Oct 2018$12,760,994$799,8186.27%$67,985
Sep 2018$7,322,255$2,129,23529.08%$180,985
Since PASPA Repeal*$1,012,554,320$82,399,2408.14%$7,003,935
Pennsylvania Sports Betting Revenue

Pennsylvania Sports Betting Revenue - Pennsylvania has been in the top three revenue-generating states since launching in 2019, and its market seems to be growing. Pennsylvania sportsbooks broke $49 million in January 2021, making it the most profitable month so far. Although Pennsylvania manages to keep up with New Jersey and Nevada in revenue, it is despite the $10 million licensing fee, the 36% tax rate. The funds from said taxes are allocated to the state's general fund. Pennsylvania has seen $3,174,153,171 wagered on sports in the fiscal year 2020/2021, with 90% of its January wagers coming from online sportsbooks.

PennsylvaniaHandleRevenueHoldState TaxCity Tax
Sep 2021$578,760,746$48,113,6708.31%$16,358,648$962,273
Aug 2021$348,520,369$25,315,9587.26%$8,607,426$506,319
Jul 2021$304,415,503$27,482,5199.03%$9,344,056$549,650
Jun 2021$420,193,377$42,495,33210.11%$14,448,413$849,907
May 2021$447,465,027$37,419,3138.36%$12,722,566$748,386
Apr 2021$479,411,021$36,033,7277.52%$12,251,467$720,675
Mar 2021$560,259,181$41,029,2697.32%$13,949,951$820,585
Feb 2021$509,547,820$33,171,1206.51%$11,278,181$663,422
Jan 2021$615,294,827$49,305,2688.01%$16,763,791$986,105
Dec 2020$548,590,065$45,344,3488.27%$15,417,078$906,887
Nov 2020$491,910,713$48,500,4439.86%$16,490,151$970,009
Oct 2020$525,802,524$47,834,6479.1%$16,263,780$956,693
Sep 2020$462,787,392$18,277,5663.95%$6,214,372$365,551
Aug 2020$364,985,422$27,593,6777.56%$9,381,850$551,874
Jul 2020$164,782,229$13,651,8658.28%$4,641,634$273,037
Jun 2020$89,000,563$6,660,1577.48%$2,264,453$133,203
May 2020$74,810,033$4,828,9886.46%$1,641,856$96,580
Apr 2020$46,102,988$2,833,4706.15%$963,380$56,669
Mar 2020$131,330,059$8,606,1196.55%$2,926,080$172,122
Feb 2020$329,765,782$4,722,2511.43%$1,605,565$94,445
Jan 2020$348,381,707$22,841,1926.56%$7,766,005$456,824
Dec 2019$342,560,390$11,374,4823.32%$3,867,324$227,490
Nov 2019$316,468,265$18,233,1545.76%$6,199,272$364,663
Oct 2019$241,186,065$14,948,2466.2%$5,082,404$298,965
Sep 2019$194,504,622$14,924,8717.67%$5,074,456$298,497
Aug 2019$109,038,051$9,887,7379.07%$3,361,831$197,755
Jul 2019$59,331,959$5,079,6348.56%$1,727,076$101,593
Jun 2019$46,334,245$3,126,3816.75%$1,062,970$62,528
May 2019$35,934,215$2,861,8527.96%$973,030$57,237
Apr 2019$36,769,146$4,221,48211.48%$1,435,304$84,430
Mar 2019$44,527,574$5,519,34012.4%$1,876,576$110,387
Feb 2019$31,500,743$1,946,8176.18%$661,918$38,936
Jan 2019$32,011,838$2,607,2158.14%$886,453$52,144
Dec 2018$16,173,089$2,007,59212.41%$682,581$40,152
Nov 2018$1,414,587$508,99735.98%$173,059$10,180
Since PASPA Repeal*$9,349,872,137$689,308,6997.37%$234,364,958$13,786,174
Rhode Island Sports Betting Revenue

Rhode Island Sports Betting Revenue - When sports betting began in Rhode Island, the only way to legally participate was in way of the two Twin River casinos. Since that time, however, Rhode Island launched its online wagering option, 'Sportsbook Rhode Island.' Upon launching the app in September 2019, $22 million was handled, more than $12 million more than the $10 million handled the month prior. In the first quarter of 2021, sportsbooks were able to generate over $8 million in revenue, $4 million of which was paid to the state government thanks to Rhode Island's 51% state tax. Tax dollars from sports betting are allocated into the general fund.

Rhode IslandHandleRevenueHoldState Tax
Aug 2021$24,042,834$1,129,8594.7%$576,228
Jul 2021$22,095,960$3,263,27614.77%$1,664,271
Jun 2021$29,468,571$3,666,02912.44%$1,869,675
May 2021$28,252,139$2,772,9109.81%$1,414,184
Apr 2021$29,040,966$3,168,53210.91%$1,615,951
Mar 2021$38,583,919$3,976,14010.31%$2,027,831
Feb 2021$34,110,104$1,555,8244.56%$793,470
Jan 2021$39,817,327$3,717,2009.34%$1,895,772
Dec 2020$22,770,472$2,533,09011.12%$1,291,876
Nov 2020$35,098,445$6,281,32117.9%$3,203,474
Oct 2020$34,704,413$4,388,84112.65%$2,238,309
Sep 2020$31,293,150$2,352,7887.52%$1,199,922
Aug 2020$23,116,965$1,423,3916.16%$725,929
Jul 2020$6,738,626$351,4255.22%$179,227
Jun 2020$2,100,736$101,3284.82%$51,677
May 2020$1,533,114$163,47210.66%$83,371
Apr 2020$591,377$27,3814.63%$13,964
Mar 2020$8,949,157$841,7679.41%$429,301
Feb 2020$28,177,862$2,323,4328.25%$1,184,950
Jan 2020$26,939,692$3,279,24112.17%$1,672,413
Dec 2019$31,670,511$2,571,7558.12%$1,311,595
Nov 2019$31,465,062$2,746,5188.73%$1,400,724
Oct 2019$28,281,024$2,457,1368.69%$1,253,139
Sep 2019$22,195,789$2,516,06111.34%$1,283,191
Aug 2019$10,060,066$851,7888.47%$434,412
Jul 2019$8,321,947$827,5799.94%$422,065
Jun 2019$14,736,667$2,149,99914.59%$1,096,499
May 2019$18,900,152$899,1654.76%$458,574
Apr 2019$16,859,818$1,970,11011.69%$1,004,756
Mar 2019$23,582,716$1,548,2306.57%$789,597
Feb 2019$20,686,618$-890,623-4.31%$-454,218
Jan 2019$19,051,125$159,9780.84%$81,589
Dec 2018$13,087,999$957,9137.32%$488,536
Nov 2018$682,714$72,99710.69%$37,228
Since PASPA Repeal*$727,008,037$66,155,8539.1%$33,739,485
Arkansas Sports Betting Revenue

Arkansas Sports Betting Revenue - In December of 2020, Arkansas managed to break $1 million in monthly sports betting revenue for the first time since launching its operations in July 2019. Before this, however, sportsbook operators struggled to break even $400 thousand. Despite having legal sports betting before most other states, Arkansas doesn't generate nearly as much revenue as other states mostly due to an absence of options for citizens. Arkansas only offers sports betting at three retail casino locations, and there are currently no legal online or mobile sports wagering options. Most sports betting tax revenue goes to the general fund.

ArkansasHandleRevenueHoldState Tax
Sep 2021$7,007,774$809,40411.55%$105,223
Aug 2021$2,892,285$310,48110.73%$40,363
Jun 2021$3,895,683$359,0009.22%$46,670
May 2021$3,687,207$498,32513.51%$64,782
Apr 2021$4,065,703$761,53618.73%$99,000
Mar 2021$5,947,427$807,09113.57%$104,922
Feb 2021$4,469,442$655,35614.66%$85,196
Jan 2021$7,187,194$1,388,25819.32%$180,474
Dec 2020$6,415,446$1,054,27216.43%$137,055
Nov 2020$6,288,249$975,98415.52%$126,878
Oct 2020$6,559,859$940,51414.34%$122,267
Sep 2020$3,958,748$397,09510.03%$51,622
Aug 2020$1,008,992$69,6256.9%$9,051
Jul 2020$179,315$-19,633-10.95%$-2,552
Jun 2020$1,189$100.84%$1
May 2020$509$-115,000-22593.32%$-14,950
Apr 2020$0$00%$0
Mar 2020$1,588,403$222,37314%$28,908
Feb 2020$4,294,366$411,5899.58%$53,507
Jan 2020$2,587,732$254,8119.85%$33,125
Dec 2019$2,633,806$455,36817.29%$59,198
Nov 2019$2,978,235$181,4976.09%$23,595
Oct 2019$2,216,369$380,00617.15%$49,401
Sep 2019$2,252,196$183,0448.13%$23,796
Aug 2019$778,249$58,8587.56%$7,652
Jul 2019$416,160$76,88518.47%$9,995
Since PASPA Repeal*$83,310,538$11,116,74913.34%$1,445,177
New York Sports Betting Revenue

New York Sports Betting Revenue - New York has handled over $1 million every month of the first two quarters of 2021, with the $356,986 made in January being its most profitable month to date. While the non-tribal sportsbooks do release weekly financial reports, they only include their total revenue, meaning information on their exact handle and hold percentage isn't provided. While revenue numbers in New York are currently lower than that of many other states, this will likely change when online betting is launched. Over $3 million has been made in taxes since sports betting launched, and it's earmarked to education programs, local municipal and county governments, and property tax relief.

New YorkHandleRevenueHoldState Tax
Sep 2021$17,355,782$3,187,04518.36%$270,899
Aug 2021$9,153,602$1,080,57111.8%$91,849
Jul 2021$9,338,107$1,273,62113.64%$108,258
Jun 2021$1,858,642$185,86410%$15,798
May 2021$1,590,114$159,01110%$13,516
Apr 2021$1,322,623$132,26210%$11,242
Mar 2021$1,845,685$184,56910%$15,688
Feb 2021$1,153,276$115,32810%$9,803
Jan 2021$3,569,855$356,98610%$30,344
Dec 2020$2,258,771$225,87710%$19,200
Nov 2020$2,619,676$261,96810%$22,267
Oct 2020$2,623,464$262,34610%$22,299
Sep 2020$1,403,543$140,35410%$11,930
Mar 2020$99,514$9,95110%$846
Feb 2020$-179,593$0-0%$0
Jan 2020$1,943,361$194,33610%$16,519
Dec 2019$780,418$78,04210%$6,634
Nov 2019$1,308,296$130,83010%$11,121
Oct 2019$2,233,227$223,32310%$18,982
Sep 2019$2,283,865$228,38710%$19,413
Aug 2019$828,152$82,81510%$7,039
Jul 2019$349,468$34,94710%$2,970
Since PASPA Repeal*$65,739,848$8,548,43313%$726,617
Iowa Sports Betting Revenue

Iowa Sports Betting Revenue - Sports betting in Iowa launched in the third quarter of 2019, wh ere sportsbooks pulled in over $19 million in revenue. Throughout 2020 sportsbooks had an average daily handle of over $5 million. In the first quarter of 2021, Iowa sportsbook operators have managed to clear $32 million in revenue. That is more than a 500% increase fr om the less than $5 million in revenue they generated in the first quarter of the previous year. Iowa did however perform far better in the third and fourth quarters of 2020, managing to finish the year off with almost $40 million in revenue for the year. Like Nevada, the tax rate in Iowa stands at only 6.75%, making it one of the lowest legal sports betting tax rates in the country. Even with the low tax rate, Iowa still was able to collect $2,809,970, the majority of which was placed into the state general fund.

IowaHandleRevenueHoldState Tax
Sep 2021$210,434,586$5,716,0382.72%$385,833
Aug 2021$108,417,527$6,604,6476.09%$445,814
Jul 2021$88,963,377$7,097,8267.98%$479,103
Jun 2021$111,176,671$8,424,6997.58%$568,667
May 2021$114,882,963$6,133,4775.34%$414,010
Apr 2021$118,355,535$7,725,2726.53%$521,456
Mar 2021$161,439,561$13,454,1588.33%$908,156
Feb 2021$143,615,170$7,708,1485.37%$520,300
Jan 2021$149,524,789$11,343,3037.59%$765,673
Dec 2020$104,815,630$7,537,0047.19%$508,748
Nov 2020$87,169,919$8,144,0969.34%$549,726
Oct 2020$81,902,416$9,098,99511.11%$614,182
Sep 2020$72,397,241$5,167,8197.14%$348,828
Aug 2020$50,313,674$3,003,9035.97%$202,763
Jul 2020$22,859,622$2,244,0219.82%$151,471
Jun 2020$12,711,201$620,6804.88%$41,896
May 2020$6,976,637$501,0527.18%$33,821
Apr 2020$1,568,497$150,3319.58%$10,147
Mar 2020$19,546,985$1,171,1645.99%$79,054
Feb 2020$56,920,783$755,3341.33%$50,985
Jan 2020$58,027,141$3,234,7945.57%$218,349
Dec 2019$59,258,838$2,904,2574.9%$196,037
Nov 2019$59,344,805$3,599,7496.07%$242,983
Oct 2019$46,500,443$5,658,33312.17%$381,937
Sep 2019$38,528,921$4,956,34712.86%$334,553
Aug 2019$8,576,246$2,162,68825.22%$145,981
Nov -0001$0$00%$0
Nov -0001$0$00%$0
Nov -0001$0$00%$0
Nov -0001$0$00%$0
Nov -0001$0$00%$0
Since PASPA Repeal*$1,994,229,178$135,118,1356.78%$9,120,474
Oregon Sports Betting Revenue

Oregon Sports Betting Revenue - While initially the only way to place sports wagers was from the tribal casinos, it wasn't long before the state lottery delivered an online alternative via the scoreboard app. Since the tribes do not consistently report their earnings, the best trackable revenue data is from said app. 2020 saw Oregon generate nearly $20 million in sports betting revenue, with $16 million being made in just the first two quarters of 2021 placing them on track to beat the previous record. All lottery sports wagering revenue goes to the state and is currently earmarked towards the state's public pension liability.

OregonHandleRevenueHoldState Tax
Sep 2021$25,070,339$1,259,7445.02%$28,974
Aug 2021$17,686,198$1,063,1356.01%$24,452
Jul 2021$18,189,572$2,173,57211.95%$49,992
Jun 2021$24,903,118$2,841,76711.41%$65,361
May 2021$27,780,213$2,350,2908.46%$54,057
Apr 2021$25,323,061$2,729,27710.78%$62,773
Mar 2021$24,054,960$1,374,3775.71%$31,611
Feb 2021$29,600,150$2,684,7779.07%$61,750
Jan 2021$34,935,891$3,872,60411.08%$89,070
Dec 2020$26,987,303$3,050,78511.3%$70,168
Nov 2020$25,039,884$4,116,31416.44%$94,675
Oct 2020$29,455,228$2,751,1479.34%$63,276
Sep 2020$26,174,303$1,527,2435.83%$35,127
Aug 2020$25,845,403$1,662,4066.43%$38,235
Jul 2020$14,042,425$1,003,0377.14%$23,070
Jun 2020$7,921,864$777,9039.82%$17,892
May 2020$7,290,190$598,0618.2%$13,755
Apr 2020$4,430,648$392,7678.86%$9,034
Mar 2020$9,007,680$937,75010.41%$21,568
Feb 2020$20,899,825$1,481,1977.09%$34,068
Jan 2020$21,151,604$1,773,7578.39%$40,796
Dec 2019$22,551,453$1,743,2317.73%$40,094
Nov 2019$17,115,416$960,7145.61%$22,096
Oct 2019$5,605,244$220,3963.93%$5,069
Since PASPA Repeal*$491,061,972$43,346,2518.83%$996,964
Indiana Sports Betting Revenue

Indiana Sports Betting Revenue - Due to its extensive land-based and online wagering options, Indiana has handled nearly $3 billion and made over $200 million in revenue. Indiana started its first quarter of 2021 by making $29,330,069 worth of revenue in January alone, making it the most profitable month Indiana sportsbooks have seen since launching. $1.7 billion was handled across the 14 retail and 13 online sportsbooks in 2020, generating over $135 million in revenue, and over $10 million in state taxes. The money collected fr om taxes was then placed into the state's general fund, with a set share going to fund programs intended to help gambling addictions. The current tax rate on sports betting is 9.5%

IndianaHandleRevenueHoldState Tax
Sep 2021$355,425,184$33,878,2399.53%$3,218,433
Aug 2021$215,636,824$16,537,6817.67%$1,571,080
Jul 2021$194,492,669$17,453,1798.97%$1,658,052
Jun 2021$246,321,671$25,464,80010.34%$2,419,156
May 2021$254,445,226$18,853,1927.41%$1,791,053
Apr 2021$236,403,308$20,079,1768.49%$1,907,522
Mar 2021$316,717,762$26,350,6398.32%$2,503,311
Feb 2021$273,893,073$16,955,9046.19%$1,610,811
Jan 2021$348,244,676$29,330,0698.42%$2,786,357
Dec 2020$313,112,474$24,306,6957.76%$2,309,136
Nov 2020$251,403,994$25,332,12010.08%$2,406,551
Oct 2020$230,932,251$21,098,4609.14%$2,004,354
Sep 2020$207,450,106$14,283,7026.89%$1,356,952
Aug 2020$169,018,238$9,834,8815.82%$934,314
Jul 2020$70,876,622$6,658,4659.39%$632,554
Jun 2020$29,783,580$2,922,1089.81%$277,600
May 2020$37,394,940$3,179,9688.5%$302,097
Apr 2020$26,304,128$1,559,8845.93%$148,189
Mar 2020$74,818,801$5,495,6397.35%$522,086
Feb 2020$187,186,223$11,092,7525.93%$1,053,811
Jan 2020$170,813,163$12,861,0147.53%$1,221,796
Dec 2019$161,808,925$11,989,9097.41%$1,139,041
Nov 2019$147,276,915$9,298,5536.31%$883,363
Oct 2019$91,697,393$11,538,53312.58%$1,096,161
Sep 2019$35,215,416$8,558,97424.3%$813,103
Since PASPA Repeal*$4,646,673,562$384,914,5368.28%$36,566,881
Montana Sports Betting Revenue

Montana Sports Betting Revenue - There is some difficulty accurately tracking sports betting revenue for Montana, as the Montana Lottery doesn't explain how the profits are split between the lottery and Intralot, the sports betting supplier. It's estimated that the state made just under $19 million in revenue during 2020, after launching in March of the same year. 6% of the handle goes to the sales agent, with all lottery revenue going into the state's general fund.

MontanaHandleRevenueHoldState Tax
Sep 2021$3,020,000$560,00018.54%$47,600
Aug 2021$3,350,000$475,00014.18%$40,375
Jul 2021$2,630,000$450,00017.11%$38,250
Jun 2021$3,700,000$400,00010.81%$34,000
May 2021$4,000,000$500,00012.5%$42,500
Apr 2021$3,200,000$500,00015.63%$42,500
Mar 2021$4,410,000$652,00014.78%$55,420
Feb 2021$3,870,000$312,0008.06%$26,520
Jan 2021$5,140,000$487,0009.47%$41,395
Dec 2020$5,570,000$595,00010.68%$50,575
Nov 2020$3,180,000$465,00014.62%$39,525
Oct 2020$2,930,000$491,00016.76%$41,735
Sep 2020$2,450,000$303,00012.37%$25,755
Aug 2020$2,610,000$241,0009.23%$20,485
Jul 2020$1,550,000$171,00011.03%$14,535
Jun 2020$346,600$68,71419.83%$5,841
May 2020$113,283$30,50226.93%$2,593
Apr 2020$434$28966.59%$25
Mar 2020$8,051$3,13038.88%$266
Since PASPA Repeal*$52,078,368$6,704,63512.87%$569,894
New Mexico Sports Betting Revenue

New Mexico Sports Betting Revenue - Information regarding gaming revenue in New Mexico remains scarce due to no legal obligation to publicly disclose their finances. 9.3% of New Mexico tribal earnings go to the state as part of their revenue-sharing model; allocation of these funds has not been disclosed.

Tennessee Sports Betting Revenue

Tennessee Sports Betting Revenue - Tennessee launched its sports betting operations in November of 2020, wh ere over $27 million was made in revenue in just 2 months. Sportsbooks have generated at least $13 million in revenue every month in the first quarter of 2020 making as much as $16 million in March alone. Since launching, Tennessee has outperformed its surrounding states in revenue despite offering no retail sports betting options whatsoever, choosing instead to rely solely on its online wagering options. $21 million has been made in taxes since November, wh ere the funds go to fund education and problem gambling treatment programs. Tennessee currently has seven licensed online sportsbooks.

TennesseeHandleRevenueHoldState Tax
Aug 2021$144,500,000$13,200,0009.13%$2,640,000
Jul 2021$144,500,000$13,400,0009.27%$2,680,000
Jun 2021$174,500,000$16,100,0009.23%$3,220,000
May 2021$160,900,000$13,700,0008.51%$2,740,000
Apr 2021$172,400,000$14,400,0008.35%$2,880,000
Mar 2021$205,900,000$16,100,0007.82%$3,220,000
Feb 2021$176,300,000$13,000,0007.37%$2,600,000
Jan 2021$211,300,000$21,800,00010.32%$4,360,000
Dec 2020$180,900,000$130%$3
Nov 2020$131,444,523$13,244,90810.08%$2,648,982
Since PASPA Repeal*$1,702,644,523$134,944,9217.93%$26,988,984
Virginia Sports Betting Revenue

Virginia Sports Betting Revenue -

VirginiaHandleRevenueHoldState Tax
Aug 2021$182,418,252$17,967,4279.85%$2,695,114
Jul 2021$161,901,955$19,965,55612.33%$2,994,833
Jun 2021$234,943,435$22,006,2969.37%$3,300,944
May 2021$226,963,573$23,173,54910.21%$3,476,032
Apr 2021$236,432,524$19,442,3178.22%$2,916,348
Mar 2021$304,066,245$26,573,8778.74%$3,986,082
Feb 2021$265,778,306$12,238,7804.6%$1,835,817
Jan 2021$58,896,564$3,586,0776.09%$537,912
Since PASPA Repeal*$1,671,400,854$144,953,8798.67%$21,743,082
New Hampshire Sports Betting Revenue

New Hampshire Sports Betting Revenue - In the 20 months since launching legal sports betting in New Hampshire, sportsbooks have only handled less than $10 million in five of those months, four of them being during the Covid-19 pandemic. Despite only offering two retail sportsbooks, and a single online wagering option, the market for sports betting in New Hampshire is huge. Over $300 million has been handled in the first two quarters of 2021 so far, resulting in $20 million worth of revenue and $6 million in tax dollars. New Hampshire has a 50% tax rate on sports betting and allocates said tax revenue into education programming for the state.

New HampshireHandleRevenueHoldState Tax
Aug 2021$36,319,740$1,594,2354.39%$159,424
Jul 2021$36,724,165$3,062,5458.34%$306,255
Jun 2021$39,268,179$3,302,3408.41%$330,234
May 2021$42,367,381$3,115,2307.35%$311,523
Apr 2021$46,700,713$3,302,3407.07%$330,234
Mar 2021$55,800,096$4,254,7327.62%$425,473
Feb 2021$50,995,349$1,787,9303.51%$178,793
Jan 2021$59,795,433$4,197,0297.02%$419,703
Dec 2020$51,649,897$4,537,6538.79%$453,765
Nov 2020$46,523,447$4,770,45910.25%$477,046
Oct 2020$47,055,486$4,203,8758.93%$420,388
Sep 2020$41,373,620$2,290,3645.54%$229,036
Aug 2020$27,496,050$1,367,5164.97%$136,752
Jul 2020$11,623,208$1,268,68810.92%$126,869
Jun 2020$8,138,772$691,1038.49%$69,110
May 2020$7,180,450$424,9475.92%$42,495
Apr 2020$3,774,668$262,3936.95%$26,239
Mar 2020$8,768,769$818,6059.34%$81,861
Feb 2020$22,130,928$1,359,3956.14%$135,940
Jan 2020$16,834,974$1,643,7939.76%$164,379
Dec 2019$360,726$44,75912.41%$4,476
Since PASPA Repeal*$660,882,051$48,299,9317.31%$4,829,993
Michigan Sports Betting Revenue

Michigan Sports Betting Revenue - In the first two quarters of 2021, Michigan sportsbooks have already handled over $1 billion, putting them on track to crush our previous projection of $1.5 billion annually. Revenue numbers only exist for six months of 2020 due to the shutdowns from the pandemic, but across those six months, Michigan saw roughly $17 million made in revenue. There are currently 12 retail and 13 online sports betting options for citizens hoping to try their hand at the increasingly lucrative hobby. Since legal sports betting launched in March of 2020, the state government has seen over $4 million in taxes that were then distributed to schools and helping firefighters undergoing cancer treatments.

MichiganHandleRevenueHoldState Tax
Sep 2021$386,780,231$27,138,0747.02%$2,279,598
Aug 2021$208,565,955$17,537,7788.41%$1,473,173
Jul 2021$206,267,088$20,766,25510.07%$1,744,365
Jun 2021$259,504,202$27,244,79310.5%$2,288,563
May 2021$257,748,035$21,228,7148.24%$1,783,212
Apr 2021$274,212,630$21,922,9617.99%$1,841,529
Mar 2021$383,691,892$35,238,5939.18%$2,960,042
Feb 2021$325,569,037$9,395,3022.89%$789,205
Jan 2021$150,849,896$17,423,56411.55%$1,463,579
Dec 2020$9,720,393$1,883,24019.37%$158,192
Nov 2020$25,080,140$2,337,6389.32%$196,362
Oct 2020$46,120,824$7,596,97216.47%$638,146
Sep 2020$33,503,929$4,376,40713.06%$367,618
Aug 2020$15,744,256$1,977,05212.56%$166,072
Jul 2020$0$00%$0
Jun 2020$0$00%$0
May 2020$0$00%$0
Apr 2020$0$00%$0
Mar 2020$593,956$105,54817.77%$8,866
Since PASPA Repeal*$2,583,952,464$216,172,8918.37%$18,158,523
Colorado Sports Betting Revenue

Colorado Sports Betting Revenue - Colorado sportsbook operators handled more money every consecutive month fr om the time their operations launched in May of 2020 to the end of that same year, earning roughly $73.5 million in revenue. With dozens of retail and online options for sports betting, residents of the state will find it easy to choose a wagering option suited to their taste. Because of this accessibility, the revenue generated by the hobby has continued to trend upward, managing to break $20 million in monthly revenue twice in 2021 alone. The tax rate on sports betting in Colorado stands at a flat rate of 10%, with the collected tax dollars being used to fund public projects such as the state's water plan.

ColoradoHandleRevenueHoldState Tax
Aug 2021$211,918,185$15,228,3437.19%$472,079
Jul 2021$181,327,995$15,652,4618.63%$485,226
Jun 2021$229,764,688$19,730,9578.59%$611,660
May 2021$248,968,193$15,154,7616.09%$469,798
Apr 2021$244,446,760$17,563,9397.19%$544,482
Mar 2021$300,990,842$20,365,1196.77%$631,319
Feb 2021$266,549,207$10,444,8103.92%$323,789
Jan 2021$326,903,462$23,144,5357.08%$717,481
Dec 2020$284,551,472$17,151,8676.03%$531,708
Nov 2020$231,238,842$18,354,6557.94%$568,994
Oct 2020$210,719,821$17,402,4098.26%$539,475
Sep 2020$207,655,943$4,166,3342.01%$129,156
Aug 2020$128,646,209$7,519,5995.85%$233,108
Jul 2020$59,183,620$5,196,5998.78%$161,095
Jun 2020$38,136,949$3,484,0149.14%$108,004
May 2020$25,621,762$2,565,72910.01%$79,538
Since PASPA Repeal*$3,196,623,950$213,126,1316.67%$6,606,910
Illinois Sports Betting Revenue

Illinois Sports Betting Revenue - Although late to the sports betting scene having been suspended after just one month of operation in March of 2020, Illinois reopened to phenomenal numbers in June wh ere it managed to finish the year with a handle of $1.8 billion, and over $115 million in revenue. The plethora of retail and online wagering options ensures that any resident interested in placing a wager has the opportunity to, and because of that, the state has seen over $53 million in taxes fr om sports betting since it was launched in March. Those tax dollars are distributed out to schools, recreational facilities, and other infrastructure projects.

IllinoisHandleRevenueHoldState Tax
Aug 2021$400,359,760$26,849,1556.71%$4,333,454
Jul 2021$369,134,820$37,292,35410.1%$6,018,986
Jun 2021$476,517,309$48,187,78310.11%$7,777,508
May 2021$507,279,761$36,230,9907.14%$5,847,682
Apr 2021$537,158,723$43,605,9268.12%$7,037,996
Mar 2021$633,614,957$44,317,7026.99%$7,152,877
Feb 2021$509,794,592$35,393,7686.94%$5,712,554
Jan 2021$581,553,300$47,945,2988.24%$7,738,371
Dec 2020$491,720,536$23,873,1524.86%$3,853,127
Nov 2020$449,239,162$41,286,0279.19%$6,663,565
Oct 2020$434,310,957$42,200,3009.72%$6,811,128
Sep 2020$305,222,938$6,837,2892.24%$1,103,538
Aug 2020$140,065,649$7,233,3605.16%$1,167,464
Jul 2020$52,524,820$3,623,9856.9%$584,911
Jun 2020$8,281,803$368,6514.45%$59,500
May 2020$0$00%$0
Apr 2020$0$00%$0
Mar 2020$997,739$72,0287.22%$11,625
Since PASPA Repeal*$5,897,776,826$445,317,7687.55%$71,874,288
All States Sports Betting Revenue
MonthHandleRevenueHoldState TaxCity Tax
Sep 2021$1,758,741,089$213,446,23412.14%$31,910,900$962,273
Aug 2021$3,054,921,267$215,592,7817.06%$29,108,046$581,775
Jul 2021$2,784,430,539$263,393,9439.46%$35,232,741$665,158
Jun 2021$3,101,885,049$298,982,1109.64%$43,926,747$977,679
May 2021$3,209,271,956$241,438,9977.52%$36,519,297$903,918
Apr 2021$3,229,297,965$254,245,7017.87%$37,756,768$892,713
Mar 2021$3,956,904,719$305,525,6357.72%$44,369,173$1,030,067
Feb 2021$4,174,692,241$251,337,4866.02%$37,118,160$847,696
Jan 2021$4,644,505,631$398,761,0878.59%$52,705,367$1,350,685
Dec 2020$4,182,793,737$282,191,8176.75%$37,643,756$1,217,389
Nov 2020$3,449,720,163$304,849,6618.84%$45,931,353$1,294,333
Oct 2020$3,239,024,221$275,161,5778.5%$40,374,990$1,307,477
Sep 2020$2,861,014,307$151,273,0795.29%$19,031,677$629,509
Aug 2020$2,181,122,192$124,871,6685.73%$18,202,743$701,823
Jul 2020$909,010,732$72,918,1618.02%$9,696,340$326,468
Jun 2020$447,504,674$28,356,3486.34%$3,980,982$130,714
May 2020$285,014,234$22,749,3097.98%$3,082,722$100,088
Apr 2020$139,267,530$7,984,9805.73%$1,405,447$56,669
Mar 2020$608,057,615$34,375,5505.65%$5,686,698$198,068
Feb 2020$1,725,571,729$80,231,7804.65%$8,445,789$178,680
Jan 2020$1,778,744,181$128,154,9077.2%$18,363,283$642,343
Dec 2019$1,843,293,855$106,182,6445.76%$13,017,481$366,646
Nov 2019$1,852,396,896$106,505,2285.75%$14,856,218$516,026
Oct 2019$1,543,860,561$146,895,2809.51%$18,924,880$790,779
Sep 2019$1,362,234,064$132,866,0459.75%$17,457,050$523,761
Aug 2019$745,672,166$61,903,9068.3%$8,841,362$313,129
Jul 2019$580,519,961$36,706,2456.32%$5,417,317$143,744
Jun 2019$685,522,666$34,036,3514.97%$4,811,578$127,532
May 2019$725,218,412$33,099,7164.56%$4,508,253$104,915
Apr 2019$731,081,406$52,354,6917.16%$6,975,225$166,743
Mar 2019$1,094,069,317$79,355,8087.25%$9,991,062$306,336
Feb 2019$881,392,595$52,240,0525.93%$4,505,267$149,194
Jan 2019$1,003,387,701$41,862,9104.17%$5,317,111$163,874
Dec 2018$981,468,358$78,451,7277.99%$8,336,087$287,121
Nov 2018$987,829,757$53,132,8915.38%$5,310,824$77,150
Oct 2018$849,616,724$43,659,8585.14%$3,772,046$47,134
Sep 2018$810,905,421$90,865,92211.21%$8,585,029$220,152
Aug 2018$357,248,816$23,154,1096.48%$2,178,165$25,802
Jul 2018$293,535,556$8,368,1062.85%$831,630$0
Jun 2018$309,961,639$24,506,8847.91%$2,093,272$0
Nov -0001$0$00%$0$0
Since PASPA Repeal*$69,360,711,640$5,161,991,1857.44%$706,222,837$19,325,561

How Revenue From Sports Betting Has Helped States During COVID-19

States with legal sports betting industries, especially those with mobile sportsbooks, were able to make make additional revenue for their state during the outbreak of COVID-19. The entire country underwent major budget deficits because of the pandemic, and states wh ere there are legal sportsbooks have been able to contribute some sort of funding to their economy to help ease the burden. This has led to other parts of the country that have not yet made gambling on sporting events legal begin to take notice and see the industry in a different light.

Lawmakers in states without a legal sports betting industry are now considering its legalization in upcoming sessions because of the revenue stream that the market has steadily provided. And the states with only retail-based establishments are looking at mobile platforms to be made legal so they too can receive more revenue from the industry as prior to the pandemic 80% of sports bets were placed using these outlets in states that allowed them. With the outbreak of COVID-19, mobile sports wagering revenue has skyrocketed even further making more states that are without it want that part of the industry to become legal as well.

The Real Size Of The US Sports Betting Market

As revenue reports are released over time, the ability to correctly analyze the entire size of the legal US sports betting market is made much easier. The first year of operations since the PASPA repeal has given us a more defined scope, as gambling industry analysts estimated that the annual betting handle is somewhere between $200 and $400 billion. Through the first year, every licensed sportsbook (which besides New Mexico are subject to monthly reports from their states) have accumulated for a total handle of over $9 billion.

This yearly handle will be sure to increase drastically as time goes on with more states legalizing sports betting and bettors’ comfort of using in-state licensed sportsbooks over the offshore betting sites. Additionally, the expansion into mobile betting will expedite the betting handle get closer to the aforementioned estimations. In New Jersey alone, sports betting occurs over mobile devices at a rate of 4 to 1 compared to that of retail betting parlors. Once the majority of states move toward this allowance, the size of the US sports betting market will increase in every category from handle and revenue to the states’ tax revenue.

Sports Betting Tax Revenue

States are quite different in the amount of handle they receive each month. The large market states like New Jersey and Nevada easily surpass the $300 million handle milestone but this does not equate to high tax revenue. Because each state regulates its industry independently, the tax rates range immensely. For example, Nevada receives only 6.75% of their books’ sports betting revenue; however, other states like Pennsylvania tax sports betting at 36%.

Take a record month for Nevada in March 2019. The books collected over $596 million for the betting handle, keeping $32.5 million as revenue. At 6.75%, the State of Nevada received just shy of $2.2 million in tax revenue for the month. Compare that to the first month of Pennsylvania sports betting that introduced mobile sports betting – June 2019. With a handle of $46 million and $3.1 of that kept by the books, it came nowhere near Nevada’s record month. However, Pennsylvania collected over $1 million in revenue due to the fact their tax rate is over 5 times that of Nevada’s.

With a large betting market, Nevada can get away with a rate of 6.75%. Smaller markets like Rhode Island and Delaware tax their industry at 51% and 50%, respectively, and are currently the highest tax rates of the legal sports betting states. Not every state is able to tax the industry this high; however, as both of these states use their lottery as the retailer, they remove the middle man. Currently, the tax rates of the legal sports betting states that have launched are:

  • Arkansas – 13% of first $150 million in receipts, then 20%
  • Colorado – 10% of revenue
  • Delaware – 50% of revenue
  • District of Columbia – 10% of revenue
  • Illinois – 15% of revenue
  • Indiana – 9.5% of revenue
  • Iowa – 6.75% of revenue
  • Michigan – 8.4% of revenue
  • Mississippi – 12% of revenue
  • Montana – 8.5%
  • Nevada – 6.75% of revenue
  • New Hampshire – 51% online; 50% retail
  • New Jersey – 8.5% of land-based revenue; 13% of online revenue
  • New Mexico – 26% of revenue
  • New York – 8.5% on land-based revenue; 12% on online revenue
  • North Carolina – Tribal Lands
  • Oregon – 2.3%
  • Pennsylvania – 36% of revenue
  • Rhode Island – 51% of revenue
  • Tennessee – 20% of revenue
  • West Virginia – 10% of revenue

Every state allocates the money they collect into different coffers. The ones who allow horse-racing tracks to offer sports betting use a small percentage to boost the purses for the races. However, on the grand scale, the majority of states use the funds to help fund the new industry with administrative costs, marketing efforts, and policing the sportsbooks. After this amount is taken out, infrastructure projects like rebuilding roads, tunnels, and bridges are amongst the highest priorities. With most of the state’s allocating the money to their state’s general fund, they also assist in providing essential programs for education and further developing the health services department. Some states (Mississippi, Pennsylvania, and Arkansas) even provide a small percentage to the city or county that hosts the sportsbooks.

Glossary Of Sports Betting Terms

  • Action – Any submitted wager.
  • Arbitrage – Betting on the same game in a different fashion to guarantee a profit.
  • Bad Beat – Action that took a turn for the worst in the final moments of a contest.
  • Bankroll – The total amount of money a bettor has available.
  • Bookmaker – An operator who accepts action.
  • Buying Points – Adjusting the odds to receive a more favorable point spread.
  • Even – Odds that do no cost vigorish.
  • Favorite – The team projected to win (aka chalk).
  • Field – A collection of players or teams not listed in a specific wager.
  • Futures – A wager that involves a long-term proposition.
  • Grand Salami – The projected number of runs/points/goals for all games within a league.
  • Handle – The total amount of money wagered by bettors and received by Bookmakers.
  • Hedge – A method to control losing money by wagering on the opposite side of the original wager.
  • Hold – The percentage of revenue divided by the handle (aka keep).
  • Hook – A half-point line movement.
  • In-Play – The ability to wager on games while they are taking place (aka live betting).
  • Liability – The total amount of money a Bookmaker will lose in the result of a game’s conclusion.
  • Limit – The highest amount of money a Bookmaker will accept for a wager (aka circled game).
  • Lock – A wager that seems like it can’t lose.
  • Longshot – A wager that is highly unlikely but pays out well.
  • Middle – Submitting two wagers to create a channel. Bettors can win both bets or lose one’s vigorish.
  • Moneyline – Odds for selecting a team to win a match regardless of points.
  • Odds – The payout associated with a wager.
  • Odds Board – The display which features betting lines and odds on all of the available wagers.
  • Off the Board – A wager that has been removed the odds board due to unknown circumstances.
  • Parlay – A combination of multiple wagers in which all must be correct to win.
  • Pick ‘Em – When no favorite is declared and odds are even or extremely close to.
  • Propositional Bet – A wager involving an independent aspect of a game/season (aka prop bet).
  • Point Spread – The projected margin of victory or defeat for a sporting event (aka line).
  • Push – A bet that ends in a tie and returns the bettor’s wager amount (aka draw or no action).
  • Revenue – The amount kept by sportsbooks from losing wagers.
  • Round Robin – A combination of multiple wagers broken down into varying parlays.
  • Sharp – A professional gambler or one with enough money to influence the odds.
  • Teaser – A parlay that involves moving the spreads in the bettor’s favor for lessened odds.
  • Total – The projected number of points scored for a sporting event (aka over/under).
  • Tout – One who sells picks or their advice to other bettors.
  • Underdog – The team projected to lose (aka dog).
  • Unit – A percentage of a bettor’s bankroll, usually 1%.
  • Vigorish – The commission made from a Bookmaker accepting a wager (aka vig or juice).