Monday, July 22, 2024

Top 10 U.S. States Betting Handles in Q1 of 2024

The Rise of Legalized Sports Betting in the United States: Top 10 States by Betting Handle in Q1

The landscape of sports betting in the United States has undergone a dramatic shift since the Supreme Court ruling in May 2018 allowed individual states to legalize the practice. In just a few short years, nearly 40 states have embraced sports betting, creating a thriving market that has redefined the industry.

The first quarter of this year has seen some impressive figures in terms of total dollars wagered, with several states emerging as leaders in the field. Leading the pack is New York, which amassed an astounding $5.6 billion in bets, making it the clear number one sports betting market in the country. The state’s high tax rate has also made it the most profitable in terms of tax revenue.

Following closely behind is New Jersey, which held the title of the leading market before New York entered the fray. Illinois, Pennsylvania, and Ohio round out the top five, all consistently ranking among the top states in total dollars wagered.

Notably, Nevada, the original state with widespread sports betting before 2018, has slipped to sixth place as the rise of mobile betting across the country has impacted its overall handle. Arizona, Massachusetts, Virginia, and Colorado complete the top 10 list, each showcasing impressive growth and consistency in their sports betting markets.

The legalization of sports betting across the United States has opened up a new world of possibilities for both consumers and states looking to boost their revenue. As more states embrace this trend, we can expect to see even greater competition and innovation in the sports betting industry in the years to come.

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