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Revenue from Legal Sports Bets in the USA Reached $13 Billion in 2019

7 February 2020, 17:55
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According to the official figures from the AGA (American Gaming Association), legal sports bets revenue has significantly increased in 2019. In comparison with $6.6 bn revenue in 2018, it has doubled.

Revenue from Legal Sports Bets in the USA Reached $13 Billion in 2019

Sports wagering was allowed only in 14 states, and it was the first experience in this field for some of them. However, Nevada, for example, was the only state in the USA where bets were allowed before PASPA (the Professional and Amateur Sports Protection Act) came into effect.

During 12 months, until December 31, 2019, citizens could bet money on sports legally. More than half of all bets (59%) were made in Nevada, other wagers were placed by users online. The total amount of bets in Nevada is $5.3 bn, New Jersey takes the second place with $4.6 bn, and Pennsylvania — the third place with $1.5 bn. Revenue from casinos in New York and New Mexico hasn’t been taken into account because the information isn’t transparent enough and publicly represented. At the same time, the AGA has also provided the data on Mississippi and Oregon. The income from their tribal casinos is estimated in $369 mln in Mississippi and $45 mln in Oregon annually.

The list of 14 states will continue to expand and 6 more states and Washington D. C. will be added to it.  Sports bets are gaining popularity across the USA, as the industry grows and other states try to find ways to get involved in it. Thus, 17 legal types of betting bills are already available in many states. The country gets $118 bn from wagering to its government and local coffers. The total amount of money which players have spent on sports betting is more than $17 bn, starting from 2018. It means that the legalization of wagers has brought $152 mln to taxes and $1.2 bn to sportsbook handles.

As mentioned earlier, Sri Lanka became the first South Asian country that decided to make match-fixing illegal.

Read moreSports Betting: Leisure, Opportunities, and Risks

Read more: Real-time Messaging as a Key Factor to Increase Revenue from Live Betting

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