$250 billion has been wagered on legal sports betting since 1018.
The total legal US sports betting handle surpassed the $250 billion mark in 2023.
New Jersey is the biggest contributor to the milestone, making up 15.78% of the total handle.
Ohio and Massachusetts launched earlier this year, adding two major markets to continue hitting legal sports betting milestones.
LAS VEGAS – The flood of legal sports betting hit a milestone of $250 billion wagered in the United States post-PAPSA. New Jersey and New York combined for over 25% of the quarter-trillion sports betting handle since 2018.
In May of 2018, the Supreme Court overturned the Professional and Amateur Sports Protection Act (PAPSA), allowing states outside of Nevada to offer legal sports betting across the country. Since the monumental ruling, 34 states (including Washington DC) offer legal sports betting, but some reel in a greater handle than most.
New Jersey and Nevada are the only legal US sports betting states with a sports betting handle greater than $30 billion. New Jersey leads all states with $39,474,025,789, accounting for 15.78% of the United States’ total handle since launching in 2018.
The Garden State is outpacing Nevada since the PASPA ruling, with legal Nevada sports betting earning a $33,496,672,836 handle in the last five years. Nevada makes up 13.39% of the total US sports betting handle, combining with New Jersey and New York for roughly 40% of the legal sports betting handle.
New York ($27.7 B), Illinois ($24.0 B), and Pennsylvania ($22.7 B) round out the top five. Other states make up roughly five percent or lower of the total US sports betting handle for the remaining $191,609,228,856.
More Milestones Will be Achieved
In total, Americans across the country wagered $250,180,967,353 since 2018. When looking at the sports betting revenue, its unsurprising why so many states continue to legalize sports betting.
Ohio and Massachusetts launched in early 2023, combining for a handle of roughly $6 billion. The sports betting catalog continues to expand, with Kentucky sports betting set to launch in September and North Carolina before June 2024.
The steady increase of states with legal sports betting and record revenue totals show no slowing down for the future sports betting handle.
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News tags: Illinois | Kentucky | Massachusetts | Nevada | New Jersey | New York | North Carolina | Ohio | PAPSA | Pennsylvania | United States
Zach is currently a student enrolled at Florida State University. He is majoring in Writing, Editing, and Media with a minor in Communication. Zach is interested in the legalization aspect of sports betting and enjoys participating in DFS. He has a passion for sports writing and most enjoys writing about football and baseball both professional and collegiate.