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June sports betting figures show tremendous year-over-year growth
New York leads the pack in total handle and revenue, while Connecticut and Maryland have shown great growth since June 2023.
A few weeks back, we took a look at the first few states to report their June sports betting figures. Now that more time has passed, more states have reported their numbers for the month of June. In total, 22 of the 33 states we expect numbers from have reported, giving us a meaningful sample size.
The trends we noticed earlier in the month still stand: While betting handles and revenues are down from May, the numbers compared to last year at this time have grown tremendously. June and the rest of the summer months are usually the slowest of the year when it comes to sports and as a result, sports betting. However, when comparing the month to the same month last year, it’s a more apples-to-apples comparison.
Let’s take a look to see the top performing states in terms of betting handle and revenue. We’ll also take a look at which states are growing at a rapid pace and which states have seen their growth potentially stagnate.
Overall figures
When you compare June 2024 to May 2024, it doesn’t paint a pretty picture. Betting handle is down 18.6% in the 22 states that have reported their numbers. Those states took in $7.06 billion worth of bets in May, but saw those numbers dip to just under $5.75 billion in June. Revenue comparison paints a similar picture. The states included in the data set generated $545.8 million in revenue for June. That number is down from $747.2 million in May.
However, as we stated, comparing year-to-year is a better way to generate a more accurate story. When you do that, you’ll see that the sports betting industry continues to grow at a rapid pace.
Compared to June 2023, betting handles have risen from just under $4 billion to $5.75 billion. That equals nearly 44% growth year-over-year. The only state that had a higher betting handle in 2023 compared to 2024 was Mississippi, who dropped from $20.4 million to $19.4 million in total bets placed year-over-year.
Similarly, revenues have grown tremendously compared to the same time last year. Only New Jersey generated more sports betting revenue in 2023 than it did in 2024. Overall, total revenue generated by the 22 states went from $376.5 million to $545.8 million, an increase of 45%.
It’s worth noting that some major states had not yet reported their data for June as of this writing, including Illinois, Nevada, Colorado, Arizona, Ohio and Virginia. Once those states report their data in the coming weeks, the leaderboards are sure to change.
New York remains the top dog
You can use any metric, and the result will likely be the same. New York is far and away the most active market in the country when it comes to sports betting. Since legalizing betting in January of 2022, the state has continued to produce record handles and revenues.
It’s no surprise that New York led the country in both betting handle and gaming revenue in June. In fact, in both cases, New York nearly doubled the second-place finisher.
Top betting handles for June 2024
Of the states that have reported their figures for June, these states saw the most dollars bet:
- New York ($1.48 billion)
- New Jersey ($743.6 million)
- Massachusetts ($505.4 million)
- Pennsylvania ($464.5 million)
- North Carolina ($395 million)
North Carolina continues to post impressive numbers despite betting only being legalized in March. The $395 million in betting handle for North Carolina is its worst month since legalization.
Top sports betting revenues for June 2024
Which states did a good job of turning betting handle into revenue?
- New York ($134.2 million)
- New Jersey ($60.1 million)
- Pennsylvania ($43 million)
- Massachusetts ($42.3 million)
- North Carolina ($40.3 million)
Unsurprisingly, there is a high correlation between betting handle and revenue generated. The same five states that had the highest betting handles earned the most revenue in June.
Connecticut, Maryland growing rapidly
Two of the fastest growing sports betting markets in the U.S. are on the East coast.
When looking at the year-over-year data, Connecticut and Maryland jump off the page. Both states increased their betting handles by at least 50% compared to June 2023 while also nearly doubling their revenues.
Connecticut went from a $91.4 million betting handle in June 2023 to $148.6 million this past June. That’s an increase of 62.6%, the highest in the country. As a result, the state’s sports betting revenue went from $9.8 million to $15.6 million, a jump of just under 60%.
Maryland saw its handle rise from $254.5 million in June 2023 up to $384.7 million in June 2024. Its revenue jumped from $27 million to just under $40 million.
Other states with large increases in betting handle from 2023 include Massachusetts (52.1%), Tennessee (48.6%), and Kansas (42.8%). The largest increases in sports betting revenue came from Arkansas (146.2%), Louisiana (94.3%), and Michigan (77.7%).
Four new states have added online sports betting since June 2023. Those states are Delaware, North Carolina, Vermont and Maine. Of the 18 other states that have reported their data, 14 saw at least a 20% increase in betting handle year-over-year. If you look at sports betting revenue generated, 20 states saw an increase of at least 20% and 11 saw an increase of at least 40%.
