February 2024 US Sports Betting Handle And Revenue Roundup

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sports betting revenue
42 days ago
by James Gazzale

Illinois sports betting apps top $1B in February handle

Bettors in the Land of Lincoln staked more than $1 billion through the eight Illinois sports betting apps in February.

DraftKings, and its $389.4 million handle, earned 37% of the monthly online market, according to the latest state report.

FanDuel claimed 36% with $370.9 million in online bets. The app generated the most revenue during the month, with $30.7 million kept by FanDuel.

Illinois-based BetRivers accepted $70.9 million online in February, good for less than 7% of the IL sports betting market.

42 days ago
by James Gazzale

DraftKings earns Kentucky sports betting market share in February

Kentucky sports betting apps combined for $198.6 million in February handle, with DraftKings earning nearly 40% of that total, up from 37.6% in January.

The market leader saw $78.9 million in bets through its app in February. According to the latest state report, DraftKings cleared $8.3 million in monthly online revenue. The seven KY sports betting apps combined for $20.8 million in February revenue.

Retail Kentucky sportsbooks in the state’s two population centers, Lexington and Louisville, set the bar for the market. Since September, the sportsbook at Churchill Downs in Louisville has made $1.6 million in revenue from $20.2 million in handle.

The Caesars Sportsbook at Red Mile in Lexington has accepted $19.3 million in bets since its launch, making $3.4 million in revenue.

46 days ago
by James Gazzale

DraftKings picks up Ohio sports betting market share in February

DraftKings increased its online Ohio sports betting share to 34% in February, up from 32% in January.

The DraftKings app took in $221.2 million in online February bets, according to the most recent state report.

FanDuel, meanwhile, saw its share of online handle drop a few percentage points in the year’s second month. FanDuel took in $221.2 million in online bets, good for 34% of marketwide handle after claiming close to 36% in January.

ESPN Bet took 6% of the OH sports betting market with $40.8 million in online bets.

46 days ago
by James Gazzale

Parlays buoy Super Bowl losses for Louisiana sportsbooks

Louisiana sports betting apps lost $1.7 million on football in February.

Despite taking a hit on Super Bowl betting, online LA sportsbooks still cleared $24.3 million in monthly revenue. 

Online handle approached $253.1 million, a 44% increase over the same month last year. Combined with retail sports betting, total betting volume in February reached $274.8 million.

Parlay betting provided the most profit for Louisiana sports betting apps, winning $20 million from the combination wagers during the month.

46 days ago
by James Gazzale

Vermont sports betting finishes first full month in February

Vermont sports betting apps took in $21.2 million in February bets, its first complete month of legal sports betting.

Like January, out-of-state bettors made up about 40% of players during the month, according to state-level data. Their average bet did drop a few dollars in February to less than $35. Out-of-towners averaged more than $37 per bet in January.

The three VT sportsbooks, FanDuel, DraftKings, and Fanatics, combined for $2.3 million in revenue. The state collected $732,000 in sports betting taxes for the month.

With only Super Bowl betting on the February menu, football was the third most popular sport in terms of overall volume at $1.8 million. Basketball, with $9.5 million, was the most popular wagering option in Vermont, followed by tennis with $2.3 million in February bets.

46 days ago
by James Gazzale

PA sportsbooks see February revenue boost

PA sports betting apps took in $627.5 million in February bets, a 13% increase over February 2023 when the Philadelphia Eagles played in the Super Bowl.

Pennsylvania sportsbooks made out well last year, clearing $57.5 million in online revenue, when the Eagles lost in the NFL championship game. This year, without a local Super Bowl team, the apps combined for $48.3 million in February revenue.

ESPN Bet earned 8% of the online handle market with $51.3 million in bets. The app offered $2.1 million in free play during the month.

FanDuel saw 44% of monthly online volume wagered through its app at $274.6 million

Bettors got the best of Caesars Sportsbook online in February, winning nearly $272,000 off $30.1 million in bets.

46 days ago
by James Gazzale

Michigan sports betting market share drops for ESPN Bet

ESPN Bet saw its Michigan sports betting handle share drop to 7.6% in February.

The $30.4 million in online bets resulted in the lowest market share for ESPN Bet since launching in mid-November.

  • February: 7.6%
  • January: 9%
  • December: 9.5%
  • November: 8.8%

FanDuel led February with 38% of all online MI sports betting handle at $152.4 million. DraftKings earned 27% of the market with $109.9 million in February online handle.

Overall, MI sports betting apps saw volume reach $402.6 million in February. They earned $30.5 million in revenue.

46 days ago
by James Gazzale

NJ sports betting revenue continues hot streak to begin year

NJ sportsbooks continued their positive revenue run to begin the year.

They combined for $67.6 million in February revenue, up nearly 24% from the same month last year. Following up on January’s record-setting revenue, NJ sports betting operators have cleared $238.3 million in 2024, an 88% jump over the first two months of last year.

The trio of Meadowlands licensees, FanDuel, SuperBook, and PointsBet, combined for $33.5 million in monthly revenue.

DraftKings earned $24.2 million from bettors in February.

The Freehold Raceway license, which is headlined by ESPN Bet, lost a combined $2.3 million in February.

46 days ago
by James Gazzale

Two MA sports betting apps leave market in February

MA sports betting volume reached $542.5 million in February as the market sees WynnBet and Betr exit.

WynnBet posted a $196,400 loss in its final month of Massachusetts operations. Betr departed with $5,000 in revenue.

Since MA sports betting apps launched last March, WynnBet accepted $156.5 million in bets and generated $8.9 million in revenue.

Betr had a nine-month run in Massachusetts. Its most popular month was during its launch in May with $539,000 in bets. In all, Betr produced $236,000 in MA sports betting revenue from $3 million in handle.

BetMGM outpaced ESPN Bet in February handle, $34.4 million to $30.5 million. It is the first time since ESPN Bet launched in mid-November that BetMGM took in more monthly wagers.

46 days ago
by James Gazzale

Win rate, revenue drop for Maryland sportsbooks In february

Maryland sportsbooks saw their win rate drop below 10% in February.

It was only the third time operators held single-digits since online sports betting launched in November 2022.

  • February 2024: 9.8%
  • November 2023: 7.6%
  • August 2023: 9.4%

Maryland sports betting revenue reached $28.1 million in February. It is one of the lowest monthly totals for operators since the summer

Total volume hit $442.6 million for the month, up 30% from February 2023 when bettors staked $339.4 million.