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Sports Betting Revenue for Every State

Updated September 7th, 2021
Published February 22, 2021

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Since the United States Supreme Court repealed the Professional and Amateur Sports Protection Act in 2018, more than half of all states have legalized sports betting.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 table below shows the launch date of each state to legalize sports betting and 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 March 2021 $633,614,957
Indiana August 30, 2019 January 2021 $348,244,676
Iowa August 15, 2019 March 2021 $161,439,561
Michigan March 11, 2020 March 2021 $383,691,892
Mississippi August 1, 2018 January 2021 $67,707,628
Montana March 9, 2020 January 2021 $5,799,090
Nevada 1931 October 2020 $659,899,331
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 March 2021 $304,066,245
Washington, DC May 28, 2020 June 2021 $19,518,408
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 $76,319,312 $10,445,904 13.69% $1,491,594 Small market where mobile wagering is not allowed
Colorado $2,984,705,765 $197,897,788 6.63% $9,457,345 Strong launch in 2020 thanks to a robust online and retail market
Delaware $386,407,647 $59,363,989 15.36% $38,586,853 Highest hold percentage of any state in 2020
Illinois $5,128,282,247 $380,505,691 7.42% $60,967,697 Challenging NV and PA for nation’s second-largest market in 2021
Indiana $4,075,787,636 $334,523,000 8.21% $31,779,687 Sustained growth in latter half of 2020 driven by online betting
Iowa $1,675,587,066 $122,796,431 7.33% $8,285,812 Lifted in-person registration requirements in January 2021
Michigan $1,988,606,278 $171,471,700 8.62% $7,679,063 Massive growth in 2021 with launch of online operations
Mississippi $1,198,953,319 $136,598,201 11.39% $16,399,254 Largest retail-only market
Montana $44,827,256 $6,139,546 13.70% $6,139,546 Sports betting overseen by Montana Lottery Commission
Nevada $16,408,884,327 $1,026,664,000 6.26% $69,332,432 Industry took a big hit in 2020 due to COVID-19 casino closures but rebounding in 2021
New Hampshire $624,606,130 $47,271,951 7.57% $21,760,536 DraftKings Sportsbook pays 51% of revenue to the state in exchange for exclusive rights to mobile market
New Jersey $17,316,337,970 $1,215,448,487 7.02% $152,621,519 Highest handle and revenue of any state in 2020
New Mexico Sports betting is run by native tribes
New York $31,165,978 $3,134,558 Has yet to launch online sports betting, and casinos were shut for six months of 2020
Oregon $448,305,435 $41,023,372 9.15% Market underperforming in state-sanctioned monopoly
Pennsylvania $8,425,206,021 $651,087,783 7.73% $178,965,838 Third largest market behind New Jersey and Nevada in 2020
Rhode Island $702,867,270 $65,024,992 9.25% $33,162,743 Remote registration permitted as of July 2020
Tennessee $1,558,144,523 $135,644,908 8.71% $26,843,918 10% minimum hold requirement took effect January 2021
Virginia $1,488,982,601 $126,986,451 8.53% $9,695,482 Fastest state to reach $1 billion in betting handle
Washington, DC $183,698,219 $27,642,311 15.05% $1,982,141 William Hill retail location at Capital One Arena outpaces government-run online operator GambetDC
West Virginia $930,120,974 $74,736,111 8.04% $7,225,400 Inconsistent growth; took a loss in February 2020
Total (since launch) $65,646,629,996 $4,862,438,594 7.41% $685,511,418
Rapid growth despite COVID-19 pandemic
Total (2021) $26,429,837,504
$2,072,864,583
7.84% $274,397,567
Record monthly betting handle set in March 2021 ($4,611,002,625)

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
  • Indiana: 9.5 percent
  • Colorado: 10 percent
  • New York: 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 revenues 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!

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