LAS VEGAS, May 19, 2021 /PRNewswire/ — VegasSlotsOnline News looks at which states are currently home to the biggest bettors and takes a punt on new and upcoming markets that seem set for success.
US betting fever
Since the 2018 PASPA repeal, 21 states have introduced sports wagering and new markets are steadily on the rise. American Gaming Association figures for 2021 show that bettors spent more than $4bn for the first time in January. Contributing an impressive $961.1m of Q1 total gaming revenue, sports betting is deemed «essential» for the industry’s post-pandemic recovery.
To calculate average monthly handle, VegasSlotsOnline News divided total handle data from each jurisdiction by the number of active sports betting months. To determine the total number of bettors, it amended the sum of core and casual US betting consumers from each state’s adult population according to the relative popularity of sports betting indicated by Google Trends. Dividing average monthly handle by the estimated number of sports bettors per state resulted in the average monthly spend per bettor.
Who takes the top spot?
Nevada’s mature market leads the way, with post-PASPA wagering handle of $14.52bn yielding an average monthly spend per bettor of $434.40. That’s more than double its closest rival, New Jersey, at $216.18. The remaining top states, though newer, are already looking promising. Despite Colorado’s market only launching in May 2020, sports bettors in this third-ranking state have wagered $2.08bn, corresponding to a $159.71 monthly average.
Colorado is followed by Virginia and Tennessee, where sports betting has been active for three months and five months, respectively. Virginians average $129.63 per month – 14% higher than Tennesseans at $113.31.
Other states to watch
Pennsylvania has the third-highest betting handle at $6.77bn. But when it came to monthly spend per bettor, this mature market averaged out at $23.40 partly because of its population of nearly 13 million.
Illinois is making a name for itself, reporting $3.6bn in sportsbook wagers in just 12 months. The state only narrowly missed out on a top five spot at $111.01. Michigan was off to a strong start as bettors spent $990.9m in nine months. It’s currently out of reach of the top five states with a $65.93 monthly average.
What does the future hold?
A rare success story for the US gambling industry, 2020’s post-pandemic return of sporting events saw mature markets hit monthly betting handle highs alongside fresher ones. With six additional states currently preparing for launch and lawmakers in another 14 considering active legislation, the possibilities for a reconfiguration of the top five betting states list are endless.
VegasSlotsOnline News publishes daily updates from all corners of the gambling industry, including legislation, casino, poker, sports betting, and iGaming.
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