January 2024 US Sports Betting Handle and Revenue Roundup

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sports betting revenue
42 days ago
by James Gazzale

DraftKings, FanDuel combine for bulk of January Kentucky sports betting revenue

DraftKings earned the highest share of online Kentucky sports betting handle in January. Its $92.5 million in online bets were good for 37.6% of monthly wagers.

The FanDuel app earned 34.6% with $85.1 million in January handle. In all, KY sports betting apps took in $246.1 million in January bets.

The latest data from the Kentucky Horse Racing Commission shows Caesars Sportsbook ($21.8 million) was the only other app to handle more than $16 million for the month.

FanDuel ($15.3 million) and DraftKings ($13.6 million) combined for nearly 80% of the $36.4 million online revenue total.

43 days ago
by James Gazzale

Illinois sportsbooks begin year with record revenue

Illinois sportsbooks cleared $129.5 million in January revenue, the highest monthly total ever in the state.

According to figures from the Illinois Gaming Board, IL sports betting apps produced nearly 98% of statewide revenue, combining for $126.3 million to begin the year. Overall revenue jumped 46% year-over-year as well.

FanDuel produced $57.6 million in online revenue, good for 46% of the market. DraftKings earned 34% of online revenue with $42.5 million for the month.

The six other Illinois sports betting apps combined for the remaining $26.2 million in statewide revenue for the month.

43 days ago
by James Gazzale

Arizona sports betting begins year with handle milestone

Arizona sports betting handled over $700 million in January.

It marks the second time bettors have reached that milestone since AZ sports betting launched in September 2021.

ESPN Bet secured a 7% share of online Arizona sports betting handle in January. The app has seen the fifth-highest volume each of the last two months, behind FanDuel, DraftKings, BetMGM, and Caesars

43 days ago
by James Gazzale

Colorado sports betting opens 2024 with record revenue

Colorado sportsbooks cleared record-high revenue in January with $53.5 million

With record revenue comes a record-high tax payment, as the state collected $4.1 million from operators to begin the year. 

Bettors staked $596.7 million during the month, up 9% from the start of 2023. Basketball, as has been the case for Colorado sports betting apps, was the most popular play for bettors in January.

43 days ago
by James Gazzale

Revenue jumps as Ohio sports betting apps begin second year

Ohio sports betting apps went over $100 million in monthly revenue in January. It is the first time operators cleared nine figures since their initial launch in January last year.

Total revenue reached $113.2 million to begin 2024.

FanDuel led all OH sports betting apps with $53 million in winnings, good for 48% of the online market. DraftKings earned 31% with $34 million in January revenue.

Bet365 continues to stick in the top end of the Ohio sports betting market. The UK giant claimed the third most online revenue with $6.3 million.

Total online sports betting handle in Ohio reached $786.8 million

Promotional spending to begin the year dropped significantly. Operators offered $40 million in January bet credits. Last January, when the OH sports betting market launched, apps unloaded $319.5 million in free play.

43 days ago
by James Gazzale

Nevada sports betting revenue sees boost to begin year

Nevada sports betting handle dropped more than 16% to begin the year, continuing a 2023 trend of lower overall volume.

Bettors staked just shy of $783 million in January, down from $935.8 million to start 2023.

Despite the drop in handle, NV sportsbooks boosted revenue to $64.7 million, third most all-time in the Silver State.

43 days ago
by James Gazzale

Tourists boost Vermont sports betting financials

Vermont sports betting handle eclipsed $19.9 million in its first 20 days, according to data from the Vermont Department of Liquor and Lottery.

The three licensed operators, FanDuel, DraftKings and Fanatics, combined for $3.6 million in revenue.

Out-of-state bettors made up 40% of the more than 52,400 active players in state. With an average bet size over $37, visitors to the Green Mountain State staked 36% of VT sports betting handle in January.

In-state bettors averaged close to $18 per bet in January.

43 days ago
by James Gazzale

Michigan sportsbooks hit handle milestone for second consecutive month

Michigan sports betting topped $600 million in monthly handle for the second consecutive month in January.

FanDuel began the year with betting volume approaching $214 million, good for 37% of the online market. The app produced $26.7 million in online revenue before deductions.

DraftKings won $10.9 million from online bettors in January. The DraftKings app saw $166.8 million in bets for the month.

ESPN Bet continued its theme of reduced promotional spending in January. It generated $1.1 million in MI sports betting revenue off $52.2 million in handle. After deductions, the Penn Entertainment-operated app showed a loss of more than $1 million.

43 days ago
by James Gazzale

NJ sportsbooks continue run of billion dollar handle months

NJ sports betting kicked off 2024 with record handle and revenue.

Bettors staked $1.72 billion in January. It is the fifth consecutive month of billion-dollar handle in the Garden State

NJ sportsbooks cleared $170.8 million for the month. It is a noticeable increase over the $72.3 million generated to begin 2023

The licensee trio of FanDuel, PointsBet and SuperBook under the Meadowlands Racetrack banner took down $109.3 million in January revenue. It was the most ever in NJ sports betting history.

43 days ago
by James Gazzale

FanDuel continues PA sports betting handle streak in January

FanDuel set a new personal best for monthly online PA sports betting revenue in January.

It cleared $54.7 million during the month. FanDuel’s $370.7 million in online handle marked four consecutive months of online volume above $325 million.

ESPN Bet rolled back its PA sports betting promo spend in January. The app offered $1.9 million in free bets, down from $8 million the month before. 

Still, the bonuses outweighed the revenue. ESPN Bet cleared $1.6 million from $74.9 million in online January play.