US Sports Betting Revenue And Handle US sports betting revenue: All states. Legal betting in the US started expanding after the 2018 Supreme Court decision. New Jersey sports betting. NJ sports betting is the biggest outside Nevada. That performance is on the merits of its. Pennsylvania sports. No matter what your favorite game might be you’ll find it on the board along with a huge variety of sports and betting options. SportsBetting.ag offers all of the popular North American sports including NFL football, NCAA college football, NHL hockey, NBA basketball, college basketball, MLB baseball, golf, tennis, boxing and MMA.

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If you’re a sports bettor, chances are good that you want to know how big the US betting industry actually is. But when it comes to finding out how much money Americans bet on sports each year, you won’t really get a solid or accurate picture by doing a quick Internet search. After all, only legal land-based and domestic online sports wagering is actually tracked and tabulated. The vast majority of betting, of course, is handled by black market vendors and legal offshore sportsbooks (neither of whom are compelled to divulge their numbers). Considering that there are only a limited number of legal sports betting options for 2021 in the US, their reported numbers – while enormous – are at best a tiny fraction of the true handle turned by US sports bettors each year.

Over 60% of US residents identify as sports fans, but not all of them wager on sports. The closest metric we have to go on about how many people bet on sports – and thus how much money Americans bet on sports – is to use as a baseline the only long-running sports wagering mecca: Las Vegas (or Nevada, more generally). With PASPA gone, of course, NV is merely the best baseline, not the only one. However, given its more mature commercial sports betting market, it’s the easiest state from which to divine out some workable figures (though we will also discuss other states’ sports wagering markets below).

Each year, the Nevada Gaming Control Board NGCB puts out its report of exactly how much handle and revenue sportsbooks in the state account for. If we take the total sports wagering handle in NV and divide it by the total NV casino traffic, that should give us – at the very least – a picture of how much money each gambler wagers on sports (or would wager on sports, given reasonable proximity to a sportsbook). This per capita method is an inexact exercise, and the margin of error is obviously going to be huge. But at least it gives us something to work off of.

How Much Money Is Bet On Sports In Nevada?

Nevada is the gambling capital of the United States and was the only state that was granted a full grandfather exception to the Professional and Amateur Sports Protection Act (PASPA) of 1992. Using savvy marketing of its crown jewel, Las Vegas, Nevada became the number one gambling tourism destination in the world. Even in the wake of PASPA’s repeal and the opening of the sports betting industry to new competitors, Nevada remains the nation’s leader in both betting handle and revenue. Monthly betting handle routinely tops half a billion dollars, and major events like the Super Bowl, Olympics, and NCAA Men’s Basketball Tournament frequently break financial records. Despite concerns from Nevada casinos about decreasing business in the post-PASPA era, 2019 actually represented a 6.2% increase in total handle over 2018.

In 2019, Nevada handled a total of $5.32 billion in sports bets. Most of this money is being bet by tourists who fly in from all around the world to play at Las Vegas’s famous casinos. In 2018, the most recent year with available data, 42.12 million people visited Las Vegas. If we add that figure to the state’s population of 3.03 million, we get a per-capita betting handle of $117.81. If we focus on only sports fans, statistically making up 60% of the American population, that number jumps to $194.79.

How Much Money Is Bet On Sports In Other States?

As stated, Nevada isn’t the only game in town when it comes to sports betting anymore, as several other states have started offering sports betting products since the PASPA overturn. While it’s impossible to know exactly how much money is bet on sports in all other states, the legal states have all started releasing their monthly numbers. Acting immediately after PASPA was eliminated, eight states (NV, DE, NJ, MS, WV, PA, RI, and NM) offered legal sports betting at land-based venues before the end of 2018, which was a very impressive turnaround indeed. By mid-2019, Arkansas opened its first sportsbook, as well. For these states, the total handle – or how much money Americans bet on sports in each state – is shown below.

Note: As yearly figures are not yet available in many cases, we have taken the monthly averages for all states with legal sports betting which have reported their wagering statistics. Yearly extrapolations thereof are informative, but they should be taken with a big grain of salt, as the sports betting handle is projected to increase month-to-month and year-to-year in all the states with legal sports betting, particularly as more betting lounges open in each region (and as online wagering rolls out on a state-by-state basis).

How Is So Much Money Bet On Sports?

Sports betting is a popular hobby throughout the country but as each state moves forward with its legalization and launch, it becomes clearer just exactly how many Americans bet on sports. Sports betting is seen to be a $150 billion industry and this is assumed to be a conservative estimate. Once PASPA was overturned and state sports betting laws were passed, the industry was brought out of the black market and into the limelight. Roughly 50% of US residents are projected to live in a state that has launched legal sports betting by the year 2024. As of now, over a quarter of US residents live in a legal sports betting state and this number is expected to rapidly jump if and when one or all of the three most-populated states (California, Texas, Florida) legalize their industry.

Is Nevada Or New Jersey The Sports Betting Leader?

Nevada remains king for now, but New Jersey made a surprising push to become America’s biggest state for sports betting in 2019. Nevada still holds its lead after closing 2019 with $5.32 billion in total betting handle, but New Jersey managed to close with $4.58 billion in its first full calendar year of operation—only 14% less than Nevada and over $3 billion more than the next closest state (Pennsylvania). Even more impressively, New Jersey handled more bets than Nevada in three individual months: May, July, and August. With even a fraction of its 2020 growth, New Jersey could surpass Nevada in total betting handle in 2021.

Much like Nevada with Las Vegas, New Jersey has a built-in market advantage with the world-famous casino town of Atlantic City. Tens of millions of tourists visit Atlantic City every year, and New Jersey has done everything in its power to market sports betting to people outside the state. Besides Atlantic City, online betting has also been incredibly popular. Roughly 85% of statewide sports bets are placed online. Much of this traffic traces to New York City residents crossing state borders to place bets on their phones. One representative of FanDuel, owners of New Jersey’s largest online sportsbook, estimated that the majority of the accounts wagering in New Jersey were registered to addresses in New York.

How Much Money Is Bet On The NFL & College Football?

Football is no doubt the most popular betting sport in the United States. American football comprises nearly $100 billion in total money wagered at offshore sportsbooks. While the country is still legalizing across many states, we are already seeing football become well over two-thirds of some state’s entire industry. In fact in New Jersey alone, betting handles are creeping toward $1 billion per month during the heightened NFL season. As the NFL is the most popular sport in the country, it is no surprise that it is also the most wagered on sport as well, however, wagering on college football is no slouch either and takes some of this handle. Still the NFL is the king.

Which Sportsbook Takes In The Most Sports Betting Money?

When it comes to the real money betting sites, the offshore books rarely release their information regarding their betting handle and revenue. However, when looking at state-licensed sportsbooks, it seems that FanDuel Sportsbook is the strong leader amongst the country

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