Sports Betting Revenue for Every State
Lots of investors, sports fans, and others are interested in tracking sports betting revenue by state. The tables below can help, with overview revenue data for every state with legal sports betting.
Since the United States Supreme Court repealed the Professional and Amateur Sports Protection Act in 2018, more than half of all states have legalized sports betting. With an ever-expanding market, the amount of revenue generated by the sports betting industry is increasing dramatically.
Sports Betting Dime will keep you up to date with the latest economic data and share insights from the business of sports betting. Check out the tables below for a snapshot of sports betting revenue information on a state-by-state basis, then learn what it all means through our assessment of sports betting industry trends.
US Sports Betting Revenue at a Glance
The United States sports betting market developed rapidly in the first two years since the overturn of PASPA, and it shows no signs of slowing down in 2021. The below table shows the launch date of each state to legalize sports betting, as well as the best monthly handles thus far.
|State||Launch Date||Best Month||Best Month Handle|
|Arkansas||July 1, 2019||January 2021||$7,187,194|
|Colorado||May 1, 2020||January 2021||$326,903,462|
|Delaware||June 5, 2018||November 2018||$24,206,090|
|Illinois||March 9, 2020||December 2020||$491,720,536|
|Indiana||August 30, 2019||December 2020||$313,112,474|
|Iowa||August 15, 2019||January 2021||$149,524,789|
|Michigan||March 11, 2020||January 2021||$150,849,896|
|Mississippi||August 1, 2018||January 2021||$67,707,628|
|Montana||March 9, 2020||January 2021||$5,799,090|
|New Hampshire||December 30, 2019||January 2021||$59,795,433|
|New Jersey||June 14, 2018||December 2020||$996,300,794|
|New Mexico||October 16, 2018||Unknown||Unknown|
|New York||June 16, 2019||Unknown||Unknown|
|Oregon||August 27, 2019||January 2021||$34,935,891|
|Pennsylvania||November 15, 2018||January 2021||$615,294,827|
|Rhode Island||November 26, 2018||January 2021||$39,817,327|
|Tennessee||November 1, 2020||January 2021||$211,300,000|
|Virginia||January 21, 2021||January 2021||$58,896,564|
|Washington, DC||May 28, 2020||October 2020||$18,535,847|
|West Virginia||September 1, 2018||September 2020||$76,951,429|
Legal sports betting continues to expand across America. The above table will be updated regularly as new markets go live and each state releases additional sports betting revenue data. You can also keep an eye on our guide to current states that allow sports betting.
United States Sports Betting Revenue Totals
We’re keeping track of sports betting revenue on a state-by-state basis for key reported numbers from June 2018 to date.
Refer to the table below for each state’s total sports betting handle, revenue, and hold percentage, as well as tax revenue collected since legalization. We’ve also included some notes for additional context.
|State||Total Handle||Total Revenue||Hold Percentage||Total State Tax Revenue||Notes|
|Arkansas||$51,345,017||$6,915,556||13.47%||$937,485||Mobile wagering is not allowed|
|Colorado||$1,512,658,080||$98,985,741||6.54%||$4,160,446||Strong start in 2020 thanks to a robust online and retail market|
|Delaware||$353,732,254||$55,586,852||15.71%||$36,743,925||Highest hold percentage of any state in 2020|
|Illinois||$1,882,363,604||$125,494,792||6.67%||$20,191,143||Lifted in-person registration requirements in August 2020 leading to explosive growth|
|Indiana||$2,553,513,927||$209,366,110||8.20%||$19,889,782||Sustained growth in latter half of 2020 driven by online betting|
|Iowa||$1,080,768,959||$79,960,999||7.40%||$5,394,190||Lifted in-person registration requirements in January 2021|
|Michigan||$281,613,394||$35,673,001||12.67%||$1,988,254||Rough start in spring 2020, but expect massive growth in 2021 with launch of online operations|
|Mississippi||$957,796,521||$112,483,051||11.74%||$13,505,436||Among the first states to launch legal sports betting, but does not allow online wagers|
|Montana||$23,578,420||$3,192,777||13.54%||$3,192,777||Sports betting overseen by Montana Lottery Commission|
|Nevada||$13,327,449,459||$838,689,000||6.29%||$56,644,119||Industry took a big hit in 2020 due to COVID-19 casino closures|
|New Hampshire||$352,750,247||$27,879,401||7.90%||$12,886,724||DraftKings Sportsbook pays 51% of revenue to the state in exchange for exclusive rights to mobile market|
|New Jersey||$12,805,891,795||$874,510,703||6.83%||$112,445,688||Highest handle and revenue of any state in 2020|
|New Mexico||—||—||—||—||Sports betting is run by native tribes|
|New York||—||$22,122,017||—||$2,230,162||Has yet to launch online sports betting, and casinos were shut for six months of 2020|
|Oregon||$298,454,361||$26,869,312||9.00%||—||Does not release state tax revenue figures, but has lowest tax rate (2.3%)|
|Pennsylvania||$5,703,914,092||$433,456,503||7.60%||$124,790,881||Third largest market behind New Jersey and Nevada|
|Rhode Island||$521,315,611||$46,622,281||8.94%||$23,777,361||Remote registration permitted as of July 2020|
|Tennessee||$523,644,523||$48,944,908||9.35%||$9,743,918||10% minimum hold requirement takes effect January 2021|
|Virginia||$58,896,564||$3,586,077||6.09%||$39,710||Surprise online launch in late January 2021 with FanDuel first to market; currently has no retail sportsbooks|
|Washington, DC||$96,273,929||$16,353,693||16.99%||$1,197,225||With government monopoly over online wagering, bettors flock to licensed retailers, including many sports bars, hotels, and arenas|
|West Virginia||$776,221,520||$59,552,613||7.67%||$5,934,803||Inconsistent growth; took a loss in February 2020|
|Total (since launch)||$43,162,182,277||$3,126,245,387||7.24%||$455,694,029
||Rapid growth in 2020 despite COVID-19 pandemic|
For clarity, here’s what each number represents:
- Handle refers to the total amount wagered.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winning sports bets.
- Hold percentage shows how much revenue sportsbooks keep as a function of the betting handle.
- State tax revenue displays taxes collected by state and local jurisdictions or the state’s share of the proceeds in revenue-sharing markets.
The table above will be updated frequently as states release their monthly sports betting revenue data on varying dates.
State Tax Rates
Each state is free to set out its own rules and regulations for sports betting. Lawmakers also determine what tax rate to apply to sports betting revenue. The majority of states have landed in the eight to 15 percent range, but as you can see from the list below, different states are taking vastly different cuts of the pie.
Below are the current tax rates for each state with legal sports wagering, as a percentage of revenue. This list is organized from the lowest to highest tax rates.
- New Mexico: Tribal casino-based (no applicable state tax)
- Oregon: 2.3 percent
- Iowa: 6.75 percent
- Nevada: 6.75 percent
- Michigan: 8.4 percent
- New York: 8.5 percent
- Indiana: 9.5 percent
- Colorado: 10 percent
- Washington, DC: 10 percent
- West Virginia: 10 percent
- Mississippi: 12 percent
- Arkansas: 12.5 percent
- New Jersey: 8.5 percent of land-based revenue; 13 percent of online revenue
- Illinois: 15 percent
- Virginia: 15 percent
- Tennessee: 20 percent
- Pennsylvania: 36 percent
- Delaware: 50 percent
- New Hampshire: 51 percent
- Rhode Island: 51 percent
- Montana: 100 percent (state-run)
Sports Betting Dime will keep you up to date with the latest rules and regulations for sports betting. This list will be updated as the market evolves and new states launch legal sports betting.
Sports Betting Revenue Trends
Tracking sports betting revenue makes it easy to spot a couple of dominant trends within the industry thus far.
Online vs. Retail Sports Betting
Online wagering dominates the industry as the preferred method for the majority of sports bettors. States that have fully embraced online sports betting have reaped the rewards of allowing sports fans to bet in the most convenient way.
Allowing online and mobile betting leads to more bets placed, higher sports betting revenue, and thus, more money back in the state’s coffers. This trend was accentuated even further in 2020 when many states were forced to shut their commercial casinos and other retail betting locations due to COVID-19 health and safety concerns. Meanwhile, online sportsbooks were able to carry on taking bets.
Heavily-populated, sports-crazed states such as New York as losing millions of dollars in tax revenue as bettors flock to nearby states like New Jersey to place wagers online. Even in states with smaller populations, the difference is stark. Arkansas and Iowa both launched in summer 2019 and have populations of roughly 3 million each, but Iowa has taken in more than 20 times as much betting handle. There’s no doubt mobile sports betting is a huge factor there.
Surely, states that are still sitting on the sidelines are taking note of this trend when considering their own legalization efforts.
Government-Run vs. Open Market
Another trend can be seen when looking at government-run sports betting operations versus those with more open markets. States that have taken an open market approach have flourished, as operators tend to get more creative with their offerings and promotions in order to remain competitive.
States that have government monopolies tend to implement higher tax rates to bolster state revenue despite having lower betting volume. Rhode Island, for example, retains 51 percent of sports betting revenue. An exception to this rule is Oregon, where sports betting is operated by the Oregon Lottery, but the state charges just a 2.3 percent tax rate. For more information on emerging powerhouse states, check out our guide on sports betting records from the past year.
Explore Further Analysis of the Sports Betting Industry
The sports betting industry is constantly changing, opening up new opportunities for bettors, sportsbooks, leagues, media companies, and academics.
Here at Sports Betting Dime, we’re continually evaluating the fluctuating landscape to keep you informed with detailed research and analysis. Check back here for the latest sports betting revenue information, and be sure to check out our Research section for more industry insights from the world of sports betting.
Have fun and enjoy the action out there!
Let's have fun and keep it civil.