March 2024 US Sports Betting Handle And Revenue Roundup

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As sports betting revenue reports for March 2024 come in from states throughout the country, we will round up the latest happenings and add context to the numbers.

8 days ago
by James Gazzale

DraftKings tops Illinois sports betting in March handle as Wrigley Field sportsbook opens

Illinois sports betting handle hit $1.26 billion in March, up 18% from the $1.07 billion bet during the same month last year.

DraftKings opened its retail sportsbook at Wrigley Field with $736,000 in March handle. The latest data from the Illinois Gaming Board shows DraftKings accepted $461.5 million in bets to lead all IL sports betting apps. DraftKings cleared $33.8 million in online revenue, good for 34% of the market.

FanDuel won the most in March, with $42.9 million in online revenue for a 43% share. FanDuel accepted $435.3 million in March bets.

Bettors sent $62.8 million through the ESPN Bet app in March, giving it a 5.1% share of monthly handle.

15 days ago
by James Gazzale

Colorado sportsbooks post annual handle gains in March

Colorado sports betting customers staked $36.3 million in March on college basketball.

The month featured March Madness betting in addition to other postseason college tournaments.

Colorado sportsbooks took in $593.1 million in total March bets, online and in-person. It was a 20% increase over the $494.4 million bet during the same month last year.

The latest report from the Colorado Department of Revenue shows operators cleared more than $45 million in revenue while posting a win rate north of 7.5%.

15 days ago
by James Gazzale

ESPN Bet sees Ohio sports betting share slip in March

ESPN Bet saw its share of online handle drop to its lowest point since entering the Ohio sports betting market in November 2023.

With $44.2 million in online bets, ESPN Bet claimed 5.7% of the market in March, according to the latest state report.

  • February: 6.3%
  • January: 7.6%
  • December 2023: 9%
  • November 2023: 8.5%

Market share for bet365 is trending up over the same timeframe. It earned 7% of the online market with $54.4 million in March volume.

  • February: 6.5%
  • January: 6.1%
  • December 2023: 5.6%
  • November 2023: 5.2%

Market share for bet365 hit 7.4% in March 2023, its highest point in the last year.

FanDuel and DraftKings were the two most popular OH sports betting apps in March, with $265 million and $259.9 million in handle, respectively.

15 days ago
by James Gazzale

Virginia sports betting handle tops $635M in March

Virginia sportsbooks saw the third most monthly volume ever in March.

According to the latest data from the Virginia Lottery, between online and in-person wagers, VA sports betting handle hit $635.6 million. It was a 24% increase over the same month last year when bettors staked $511.6 million.

It was also the fourth time in the last five months Virginia bettors played more than $600 million.

  • March: $635.6 million
  • February: $540.1 million
  • January: $652.9 million
  • December 2023: $633.2 million
  • November 2023: $638.9 million

Sportsbooks posted $47.7 million in combined revenue before deductions.

28 days ago
by James Gazzale

Players beat Vermont sports betting apps during March Madness

Vermont sports betting handle topped $4.6 million on the Men’s NCAA Basketball Tournament.

The three VT sports betting apps, FanDuel, DraftKings, and Fanatics, lost a combined $5,550 on March Madness betting. State-level data shows VT sportsbooks accepted $141,140 across 10,815 bets on the Vermont Catamounts during their first-round loss to Duke.

Nearly 600,000 bets were made on the tournament, with 416,500, about 70%, coming from out-of-state bettors.

Players staked nearly $660,000 on the Women’s NCAA Basketball Tournament as well.

28 days ago
by James Gazzale

Nevada sports betting hits post-PASPA milestone

Nevada sports betting surpassed $40 billion in post-PASPA handle in March.

New York and New Jersey are the only other states to reach the milestone since 2018. According to the latest state report, total betting volume reached $784.6 million in March.

Basketball betting, which includes the NBA, March Madness betting, and others, hit $32.5 million for the month.

NV sportsbooks paid out $12.9 million in winning football bets during the month, leaving them with less than $30 million in monthly revenue for the first time since August 2023.

40 days ago
by James Gazzale

Women help boost Masters golf betting for BetMGM

BetMGM announced Wednesday it saw a nearly 50% increase in total golf betting for the Masters year-over-year.

Women betting on the Masters Tournament increased 161% from last year, too. BetMGM did not provide specific dollar amounts for its golf betting.

“The Masters was a great result for the sportsbook. (Scottie) Scheffler was a nice winner on our outright book, and Tiger playing the whole tournament translated into a really good weekend in Augusta for BetMGM,” said trading manager Seamus Magee.

40 days ago
by James Gazzale

PA sports betting promo spend drops to lowest level since start of NFL season

PA sportsbooks rolled back their free bet giveaways in March, offering a combined $18.1 million.

According to the latest state report released Wednesday, promotional spending made up 2.3% of the total $800.7 million bet during the month. Promotional play as a percentage of PA sports betting handle tends to drop in March from football season highs.

  • March 2024: 2.3%
  • March 2023: 2.2%
  • March 2022: 2.5%
  • March 2021: 2.1%

FanDuel offered the most promos in March, giving away $7.9 million, while ESPN Bet dropped its promo spending to $1.4 million for the month. ESPN Bet dished out $14.8 million in free bets when it launched in November last year.

Free bets peaked at 4.1% of total online handle in September last year, the start of the NFL betting season.

41 days ago
by James Gazzale

Parlay profits make up bulk of Louisiana sports betting revenue in March

Louisiana sportsbooks earned $22.8 million in online revenue from parlay betting in March.

According to the latest data from the Louisiana Gaming Control Board, the combo bet winnings made up 72% of all LA sports betting revenue for the month.

While Louisiana state reports do not break down individual operator financials, FanDuel and DraftKings are both widely viewed as industry leaders in their parlay offerings. Penn Entertainment CEO Jay Snowden told a recent Las Vegas forum app developers will be focusing on improving the ESPN Bet parlay options before NFL betting returns.

Online sportsbooks combined to produce $31.7 million in March from $319.4 million in bets. Handle jumped 43% from the same month last year when bettors staked $223.1 million.

41 days ago
by James Gazzale

Fanatics boosts Michigan sports betting market share in March

Fanatics increased its share of online Michigan sports betting handle in March behind $19.3 million in bets.

According to the latest state report released this week, Fanatics earned 4% of online handle, up from 2.3% in February.

Total online betting through MI sports betting apps reached $480.4 million for the month, an 18% boost over the same month last year.

FanDuel earned 39% of the mobile market, accepting $186.2 million in bets, while DraftKings$126.7 million handle accounted for 26% of the market.

ESPN Bet saw its online handle share dip to 6.4% with $30.7 million in bets. The 13 online MI sportsbooks combined to hold 8.7% in March, producing $41.9 million in revenue.