sports betting revenue report

January 20, 2025

North Carolina wagering operators report lowest hold since launch

North Carolina bettors laid down more than $600 million (£493 million/€584 million) in wagers for the third consecutive month in December, according to the latest revenue report from the North Carolina State Lottery Commission released on 17 January.

However the high amount bet didn’t translate into a record month for operator revenue or tax revenue as sportsbooks had their lowest hold since launch in March 2024. The 5.8% win rate marked only the third time that operators had a hold of less than 10% in North Carolina.

In December, consumers placed $629.5 million in bets, the third-most of any month since legal betting went live. Of that, bettors won back $590.9 million and operators reported $35.7 million in gross gaming revenue (GGR), the second-lowest GGR in history. Sportsbooks wrote off $16.4 million in promotional play.

North Carolina taxes sportsbooks at 18% of GGR, and operators contributed $6.4 million to state coffers, the second-lowest since launch. For comparison, the ..

October 21, 2024

Michigan falls just short of online betting and igaming records in September

Michigan narrowly missed out on new online sports betting and igaming revenue records in September, with the month proving to be the second-best in the Wolverine State’s history.
Figures from the Michigan Gaming Control Board (MGCB) show combined online betting and igaming revenue in September hit $261.0m (£200.2m/€240.4m). Reported as ‘gross receipts’, this is 24.1% higher than last year and 16.5% ahead of August.

Adjusted gross receipts, which account for promotional spending in Michigan, was $209.9m. This beat last year’s total by 24.6% and was also 2.5% more than August.

Michigan igaming revenue surpasses $200m in September
Igaming accounted for $202.6m of all online gambling revenue in September. The amount is 21.8% more than last year and only the second-highest monthly amount on record behind $215.5m in March.

It was only the second time in the market’s history that monthly revenue surpassed the $200.0m milestone. Adjusted gross receipts from igaming were also 21.7% higher ye..

October 21, 2024

Illinois sports betting handle up in August, but hold declines sharply against July

Sports betting revenue in Illinois increased year-on-year in August despite the impact of new tax laws in the state. Monthly handle was also higher than in 2023.
For August, total ‘completed events’ adjusted gross revenue hit $59.2m (£45.5m/€54.6m) in Illinois. This is 26.2% more than last year but 17.0% lower than July. State-wide hold was 6.74%, down from 9.22% in July.

Figures from the Illinois Gaming Board (IGB) show some $57.8m of all revenue came from online betting. The remaining $1.3m was attributed to wagering through retail sportsbooks across the state.

As for spending, total handle for the month amounted to $877.8m. This surpasses last year by 29.8% and also beats July this year by 13.5%.

August is widely regarded as one of the quieter of the summer months due to fewer major league events, although this year benefited from the Olympic Games in Paris, France. College football also starts in late August, as do NFL pre-season games. Players bet $852.9m online during August ..

October 3, 2024

FanDuel holds off DraftKings challenge to lead Ohio betting market in August

Flutter Entertainment-owned FanDuel remained the frontrunner in the Ohio sports betting market in August – a month in which the Buckeye State saw revenue drop to a calendar year-low
According to the Ohio Casino Control Commission report that dropped on Tuesday (1 October), total player spend in Ohio for August was $547.9m (£417.6m/€496.2m). This is 44.6% ahead of last year and 14.9% more than July of this year.

Consumers wagered $539.9m on sports online during the month, while a further $13.0m was bet at retail sportsbooks.

In terms of taxable revenue, this amounted to $48.8m, the lowest monthly total so far for 2024. The August figure was 19.6% more than the same month last year but 8.8% behind July’s $55.3m haul.

Online sports betting generated $46.6m in revenue, while retail sportsbooks contributed $2.0m to the monthly total. Total taxable revenue for the year-to-date in Ohio stands at $541.5m.

As for hold, this hit 8.91% for the state as a whole in August. Online hold was 8.63%..

July 25, 2024

Arizona reports yearly sports betting revenue and handle growth in May

Sports betting revenue and handle in Arizona increased year-on-year during May as FanDuel remained the state’s leading operator by some distance.
Total spending on sports betting in May hit $568.5m (£441.3m/€523.8m), according to the Arizona Department of Gaming report. This is 25.9% more than in the state in May 2023, but 13.4% behind April’s total this year.

Of all wagers placed in Arizona, $563.2m was bet online and $4.1m with retail sportsbooks. The remaining $1.2m was wagered through limited event wagering operators during May.

Players won a total of $506.0m from sports betting in May, resulting in $61.1m adjusted gross receipts (AGR) prior to promotional deductions. This figure is 25.7% higher than last year and only marginally behind $63.3m in April despite the lower handle.

After accounting for $17.2m in free-bet and promotional deductions, AGR amounted to $43.2m. This amended figure is 27.4% ahead of last year and 0.5% behind April.

May’s $42.7m AGR came from online bet..

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