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Following the overturn of the Professional and Amateur Sports Protection Act, there has been a sharp increase in the number of states in the US legally accepting betting. The United States Supreme Court repealed PAPSA in 2018 and since then, over 50% of states have legalized sports betting. As a result, the overall revenue being generated from betting in the United States has risen but what are the top 5 states for US betting revenue?
On the 1st of May 2020, Colorado legalized sports betting and in the month of January 2021, the state generated $326,903,462 in sports betting takings. This places Colorado firmly in the top five states in terms of betting revenue and it is unsurprising given the quality of the betting apps available to people residing in the state. BetMGM has been rated #1 CO betting app and this is some achievement given the competition. With the likes of BetRivers, DraftKings, FanDuel, BetAmerica, PointsBet, and William Hill competing for a share of the betting revenue in Colorado, competition is strong.
Another of the leading states for US betting revenue is Pennsylvania. They acted quickly following the overturn of PAPSA and legalised sports betting in November 2018. Matching Colorado, the greatest month for betting handle in Pennsylvania came in January 2021, with a figure over $600 million, which is incredible. However, it is worth keeping in mind Pennsylvania had well over a year to establish their online betting presence before Colorado came on the scene.
Despite the continued success of Pennsylvania and Colorado, nothing can compare to the levels of betting revenue achieved by New Jersey. The Garden State were faster out of the blocks then even Pennsylvania and legalized sports betting in June 2018, just a month after the Supreme Court decision. As the driving force behind the overturn of PAPSA, it should come as no surprise to learn New Jersey are leading the way in terms of US betting takings. In December 2020, the sports betting handle generated by New Jersey exceeded $990 million, which is an incredible figure. Their total sports betting handle to date stands at over $12 billion, with total revenue at over $870 million.
There is of course one state where sports betting has been legal for some time and that is Nevada. Despite the industry taking a big hit due to the outbreak of COVID-19, Nevada has recorded revenues of $838,689,000 in sports betting since June 2018. Only New Jersey can compete with that sort of figure.
Finally, we come to the state of Indiana. Since June 2018, Indiana has generated sports betting revenue of over $200 million. Their best month handle to date came in December 2020, with over $300 million. Indiana legalized sports betting in August 2019, so have had some catching up to do in comparison New Jersey and Pennsylvania but sports betting has clearly taken off in the Hoosier state.
It will be interesting to follow how revenue differs between the states over the next few years and if the likes of Illinois and Mississippi can break into the top 5 states for US betting revenue.
