2021 could prove to be the most significant year in US sports betting history, as the start of the NFL season saw revenue surge to astronomical levels at two of the country’s top gambling hubs.
In October, sports betting in New Jersey was $1,303,198,342, nearly $200 million more than the September all-time high.
Nevada sports betting also cleared the $1 billion hurdle for the first time, collecting $1,100,501,139 in October.
If you’ve turned on the TV, surfed the Internet, or opened your mailbox in the US in the last 12 months, you’ve likely come across some kind of solicitation regarding sports betting and its legalization.
Domestic sports betting in the US is spreading like wildfire, with strong lobbying by industry giants such as FanDuel, DraftKings, Caesars and BetMGM.
As more and more U.S. sports betting states become legal, the neighborhoods that find themselves surrounded will forgo tax revenues from residents who participate or move across borders in favor of their favorite teams and athletes. Some action must be taken.
Gamblers also have the option of doing business with offshore sportsbooks that operate over the web. This is another avenue that allows potential revenue collection to escape state tax coffers.
A review of the revenue collection reports by state reveals year after year that business is growing and gamblers from every state are participating in some way.
State governments that chose to listen to the actual wishes of the constituents they represent took the message and legalized sports betting.
At least 19 states posted record earnings in October, which coincides with the start of Weeks 4-8 of the NFL season, the Major League Baseball playoffs and World Series, NCAA College Football, and College Basketball .
We can speculate that the addition of NCAA College Basketball may have catalyzed October’s increase over September’s all-time high, but there are also indicators that NFL betting and its growth are the main culprits.
The final indicator of the NFL’s dominance over the overwhelming success of domestic sports betting in the US will be when the February 2022 report following Super Bowl 56 is produced.
Many states reported lower revenues in February 2021. This is either an outlier or a sign of poor betting for him in the month following the Super Bowl.
February’s numbers should be at least slightly higher than 2021’s, as the Super Bowl will take place one calendar week later, as the NFL added Week 18 to its schedule.
With the Super Bowl taking place on February 13th, all but one of the two weeks of action will be collected during February, whereas in the past at least one week was spent in January. .
Please contact us again in early January once you have updated your November collection data. See if sports betting earnings numbers continue their upward trend.
forbes