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Sports betting is certainly hitting its stride in the United States, as we saw a massive increase in handle and tax revenue from 2023 to 2024. More than three quarters of the U.S. allows sports betting in some capacity. With online betting available in most states where sports betting is legal, there are plenty of opportunities for bettors to place wagers. That was certainly the case last year, which in many ways blew 2023 out of the water. 

2024 sees record numbers in sports betting

The handle, or total amount wagered, increased dramatically from 2023 to 2024. In 2023, $121.1 billion was wagered legally in the US. That number jumped up $28.5 billion, or 23.5%, to $149.6 billion in 2024. Total gross revenue for sportsbooks increased 24.4% from $11.0 billion to $13.7 billion. Those increases, of course, mean more tax revenue for states where sports betting is legal. Total tax revenue from sports betting across the U.S. increased from $2.1 billion in 2023 to $2.8 billion in 2024, a jump of nearly 32%. 

Sports betting was legal in 38 states, as well as Washington, D.C., in 2024, and nearly every state saw dramatic growth in sports betting. That was especially true for Delaware and Washington, D.C., which saw increases in handle of 231% and 172%, respectively, from 2023 to 2024. Massachusetts (48.4%), Arkansas (37.8%) and Maryland and Louisiana (28.7%) third through sixth in terms of the largest percentage increases from 2023 to 2024. While gambling in the U.S. may be most associated with Nevada and New Jersey, New York had the largest sports betting handle in the United States in 2024 at $22.7 billion, up 18.3% from 2023. 

Speaking of Nevada, the Silver State was one of three states that saw a decrease in handle from 2023 to 2024—4.4% to $7.9 billion. New Hampshire (-3.4%) and Mississippi (-1.9%) also saw a smaller handle year-over-year. 

Unsurprisingly, the biggest months of 2024 in terms of highest handle were September, October, November and December. Of those four, November was the highest at $16.3 billion. The last four months of the year seeing the most dollars wagered should come as no surprise, as the NFL and college football kicked off in September, the MLB playoffs and World Series were in October, and the NBA and NHL both began in October. While the Super Bowl is always a massive driver of sports betting, February was the eighth-highest month of 2024 in terms of handle. 

May-August saw the lowest handle of the year, with June-August all under $10 billion, but each of those four months saw growth of at least 34.4% year-over-year from 2023. One big reason for that was the Summer Olympics in July and August. Additionally, the WNBA saw a massive surge in popularity last year, and that season kicked off in May.