Legal Sports Report

US Sports Betting Revenue And Handle

US sports betting once only happened in Nevada.

Now, as legal sports betting has expanded to more states starting in 2018, the amount of sports betting revenue generated in the country has increased dramatically.

Here’s a snapshot of the economics of sports betting in the United States.

US sports betting revenue: All states

Legal betting in the US started expanding after the 2018 Supreme Court decision striking down the federal ban outside Nevada.

Here’s a look at total handle, revenue, hold and tax revenue collected in each of the states that now have legal sports wagering:

  • Handle: Amount wagered over the time period.
  • Revenue: Amount of money kept by sportsbooks out of the amount wagered.
  • Hold %: How much revenue sportsbooks keep as a function of handle.
  • Tax revenue/state share: Taxes collected at state level; or revenue realized by the state if it runs sports betting through a fixed-share setup.

The numbers reflect all reported numbers starting in June 2018 to date.

StateHandleRevenueHoldTax/State share
Total$9,067,841,397$568,750,4006.27%$66,860,658
Delaware$129,901,174$14,910,46511.48%$6,523,329
Mississippi$301,717,553$30,498,98510.11%$3,659,878
Nevada$4,919,631,294$280,235,0005.70%$18,915,863
New Jersey$3,231,290,025$203,656,1576.30%$26,339,450
New MexicoN/AN/AN/AN/A
Pennsylvania$244,665,436$22,799,6749.32%$7,822,841
Rhode Island$112,851,142$4,717,7704.18%$2,406,063
West Virignia$127,784,773$11,932,3489.34%$1,193,235

Delaware sports betting

Delaware sports betting was the first to go live outside Nevada in June 2018. Wagering only takes place at three state casinos, and parlay cards available at lottery retailers. There is no mobile betting although state law allows for it.

 HandleRevenueHoldState's share of revenue
Total$129,901,174$14,910,46511.5%$6,523,329
June 2018$8,411,970$1,090,61013.0%$477,142
July 2018$7,358,080$494,4496.7%$216,321
August 2018$9,574,577$1,264,91413.2%$553,400
September 2018$14,425,723$3,089,17121.4%$1,351,512
October 2018$16,494,601$650,4133.9%$284,556
November 2018$16,933,581$1,498,8958.9%$655,766
December 2018$14,209,007$2,164,45015.2%$946,947
January 2019$12,726,242$1,588,74512.5%$695,076
February 2019$8,473,386$236,4482.8%$103,446
March 2019$9,285,056$1,664,29717.9%$728,130
April 2019$6,511,095$736,90611.3%$322,396
May 2019$5,497,854$431,1687.8%$188,636

Mississippi sports betting

Mississippi sports betting went live in 2018 at casinos around the state. There are now more than two dozen sportsbooks. Online sports betting is not available off the grounds of casinos.

 HandleRevenueHoldTax
Total$301,717,553$30,498,98510.11%$3,659,878
August 2018$6,270,128$645,05710.3%$77,407
September 2018$31,770,270$5,503,79317.3%$660,455
October 2018$32,837,334$1,178,3433.6%$141,401
November 2018$44,499,883$1,674,2503.8%$200,910
December 2018$41,762,048$6,174,22414.8%$740,907
January 2019$35,190,774$2,793,2387.9%$335,189
February 2019$25,148,135$2,756,43911.0%$330,773
March 2019$32,421,264$4,898,72615.1%$587,847
April 2019$19,188,763$2,057,83410.7%$246,940
May 2019$17,438,288$1,191,9676.8%$143,036
June 2019$15,190,666$1,625,11310.7%$195,014

Mississippi revenue here.

Nevada sports betting

Nevada has had legal wagering for decades. Billions of dollars are wagered annually, generating hundreds of millions in revenue.

Here’s a look at Nevada sports betting handle and revenue since June 2018, the month that the first sportsbooks opened in other states.

Nevada has one of the lowest tax rates in the country.

 HandleRevenueHoldTax (6.75%)
Total$4,919,631,294$280,235,0005.70%$18,915,863
June 2018$286,548,295$20,173,0007.04%$1,361,678
July 2018$244,638,554$4,061,0001.66%$274,118
August 2018$247,622,790$12,604,0005.09%$850,770
September 2018$270,993,915$ 26,720,0009.86%$1,803,600
October 2018$528,568,873$29,547,0005.59%$1,994,423
November 2018$581,070,664$ 27,136,0004.67%$1,831,680
December 2018$561,859,873$ 44,106,0007.85%$2,977,155
January 2019$497,482,993$14,626,0002.94%$987,255
February 2019$458,591,549$ 35,816,0007.81%$2,417,580
March 2019$596,752,294$32,523,0005.45%$2,195,303
April 2019$328,121,212$21,656,0006.60%$1,461,780
May 2019$317,380,282$11,267,0003.55%$760,523

Nevada revenue here.

New Jersey sports betting

NJ sports betting is the biggest outside Nevada. That performance is on the merits of its strong online betting presence: about 80% of all handle is generated through sportsbook apps and websites.

 HandleRevenueHoldTax
Total$3,231,290,025$203,656,1576.3%$26,339,450
June 2018$16,409,619$3,458,66821.1%$337,077
July 2018$40,682,237$3,845,8809.5%$377,015
August 2018$95,634,048$9,198,2729.6%$1,038,073
September 2018$183,948,404$23,775,36612.9%$2,883,517
October 2018$260,711,301$11,686,1194.5%$1,536,282
November 2018$330,748,563$21,243,8656.4%$2,730,521
December 2018$319,173,548$20,814,2226.5%$2,695,290
January 2019$385,279,662$18,777,5824.9%$2,532,619
February 2019$320,368,087$12,732,7404.0%$1,817,553
March 2019$372,451,342$31,669,3878.5%$4,180,051
April 2019$313,719,562$21,215,7476.8%$2,817,206
May 2019$318,940,677$15,536,3844.9%$2,135,704
June 2019$273,222,975$9,701,9253.6%$1,258,541

NJ revenue here.

Pennsylvania sports betting

PA sports betting is poised to become one of the biggest markets in the near future. So far, the state has mostly relied on retail sportsbooks, but sportsbook apps started going live in May 2019, and should dramatically increase both handle and revenue.

The only hiccup is the high cost of doing business in the state: an effective tax rate of 36% and a $10 million licensing fee.

 HandleRevenueHoldState TaxLocal Tax
Total$244,665,436$22,799,6749.32%$7,388,289$434,602
November 2018$1,414,587$508,99735.98%$173,059$10,180
December 2018$16,173,090$2,007,59212.41%$682,581$40,152
January 2019$32,011,839$2,607,2158.14%$886,453$52,144
February 2019$31,500,742$1,946,8176.18%$661,918$38,936
March 2019$44,527,575$5,519,34012.40%$1,876,576$110,387
April 2019$36,769,145$4,221,48211.48%$1,435,304$84,430
May 2019$35,934,215$2,861,8527.96%$973,030$57,237
June 2019$46,334,244$3,126,3806.75%$699,319$41,136

PA revenue here.

Rhode Island sports betting

RI sports betting started in late 2018, after the state legalized it earlier in the year. The state actually runs sports betting through a pair of casinos, and with the help of sportsbook company William Hill. RI gets a share of revenue, rather than taxing it.

Rhode Island did not launch with online betting, but a 2019 law authorized it. It should launch later in 2019.

 HandleRevenueHoldState's revenue share
Total$112,851,142$ 4,717,7704.18%$2,406,063
November 2018682,714$72,99710.69%$37,228
December 2018$13,087,999$957,9137.32%$488,536
January 2019$19,051,125$159,9780.84%$81,589
February 2019$20,686,618-$890,623-4.31%-$454,218
March 2019$23,582,716$1,548,2306.57%$789,597
April 2019$16,859,818$1,970,11011.69%$1,004,756
May 2019$18,900,152$899,1654.76%$458,574

RI revenue here.

West Virginia sports betting

WV sports betting went live in 2018, thanks to a law passed even before the federal ban was struck down.

The state has legalized online betting, too, but there have been problems. Delaware North, the only live operator, had to shut down. So too did two retail sportsbooks, leaving just three places to bet on sports in the state.

Sportsbook apps should start rolling out in 2019, and increase handle and revenue.

 HandleRevenueTax
Total$127,784,773.48$11,932,348.30$1,193,234.83
August 2018$305,191.90$196,945.00$19,694.50
September 2018$7,333,626.18$ ,967,318.15$196,731.82
October 2018$11,147,950.86$854,973.57$85,497.36
November 2018$13,826,230.52$1,207,363.39$120,736.34
December 2018$15,183,233.81$2,396,963.38$239,696.34
January 2019$19,740,035.12$1,400,944.33$140,094.43
February 2019$16,845,338.35$228,285.87$22,828.59
March 2019$15,276,806.10$1,837,732.48$183,773.25
April 2019$10,978,040.02$699,184.92$69,918.49
May 2019$9,429,073.12$719,097.75$71,909.78
June 2019$7,719,247.50$423,539.45$42,353.95

WV revenue here.

New Mexico sports betting

Four tribal casinos currently feature sportsbooks. However, revenue figures from these casinos are not currently available.

Arkansas sports betting

Arkansas sports betting just began in July 2019. No revenue numbers have been reported yet.

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