Legal US sports betting trade tops $ 5 billion in September

0
3229

""US Sports"" – Google News

As established markets mature and new states enter the battle, legal sports betting continues its rapid expansion in the United States

(LAS VEGAS) – US regulated sports betting officially grossed more than $ 5 billion in bets in a single month for the first time in history, according to data from PlayUSA.com, a leading source of news and analysis on the US regulated gambling industry.

Sports betting jurisdictions have so far reported that Sports Betting settled $ 5.2 billion in bets in September, a month of betting across the country with a full schedule of college football and the first three weekends of the NFL season had risen. These legal sports bets generated gross sales of $ 412.5 million from these bets.

“Football has sparked a wave of betting excitement that met our high end expectations, but the surge is more than just interest in a single sport or an expansion of legalized sports betting to new states,” said Dustin Gouker, senior analyst for the PlayUSA.com network. “Relatively young markets such as Michigan and Virginia, where online sports betting first gave bettors the opportunity to bet on regular season football, were likely to see massive increases in interest. But New Jersey and Nevada also had record months, suggesting a similar expansion in the US’s most mature markets. “

The country’s $ 5 billion first month officially became official Monday afternoon after Illinois announced that its sportsbook had won $ 596.5 million in bets in September. The previous US record for a month was the $ 4.6 billion set in March. And since Arizona hasn’t reported any data yet, the handle will be inches higher in September.

By comparison, bets were up 80.6% in September, compared to the $ 2.9 billion in legal U.S. sports betting attracted in September 2020.

Football was expected to set records in many of the 28 states and Washington DC that allowed legal sports betting of any form in September, including Arizona, Connecticut, Louisiana, South Dakota and Wyoming, all of which launched this month came. Without these new markets, nine jurisdictions posted monthly trade records and six new highs in gross revenue. That includes $ 1 billion in New Jersey, the first time bettors poured more than $ 1 billion into a single state’s sportsbook in a month.

The handle in the top 10 US markets to report September bets (* denotes the state record):

  1. New Jersey, $ 1.01 billion *
  2. Nevada, $ 786.7 million *
  3. Illinois, $ 596.5 million
  4. Pennsylvania, $ 578.8 million
  5. Colorado, $ 408.3 million *
  6. Michigan, $ 386.8 million *
  7. Indiana, $ 355.4 million *
  8. Virginia, $ 293.9 million
  9. Tennessee, $ 257.3 million *
  10. Iowa, $ 210.4 million *

As impressive as September was, the record will almost certainly fall in October. Five football weekends a month will be the trigger, but the start of the NBA and NHL seasons, as well as the postseason of baseball, will make it kind of a perfect storm.

In Iowa – the only major sports jurisdiction in the US to release data for October – sports bets were trading at $ 280.9 million during the month. This broke the state record set in September by 33.5%.

“The US sports betting market is still a long way from being capped,” said Eric Ramsey, data analyst for the PlayUSA.com Network. “Florida recently introduced sports betting, and other large states like Ohio and California continue to struggle with legalization. Every established sports betting state in the US continues to grow. Recordings will therefore continue to be at risk for the foreseeable future. “

For updated sales information on sports betting and online gaming in all legal US markets, visit www.playusa.com/revenue/.

Source Link

Leave a Reply