Commercial sports betting revenue reached USD$7.5bn in 2022, an increase of almost 73 per cent on 2021, according to the American Gaming Association.
Legal sportsbooks took in USD93.2bn in 2022, up by 61 per cent year-on-year. When the tribal sports betting handle – from Native American communities – is reported later this year, this will surpass USD100bn.
The market is expanding as sports betting is legalised across more US states, following the May 2018 Supreme Court overturning of a federal ban. In 2022, sports betting became legal in Kansas. Betting via mobile devices was rolled out across Louisiana, Maryland and New York.
New York was the state with the largest sports betting revenue, at USD1.4bn. It was followed by Illinois (USD795m), New Jersey (USD763m) and Pennsylvania (USD597m).
Since May 2018, Americans have placed USD190.3bn in bets, driving USD14.6bn in sports betting revenue and USD3bn in state and federal taxes.