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2023 U.S. Sports Betting By The Numbers

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2024-02-29

2023 U.S. Sports Betting By The Numbers

The Arizona Department of Gaming provided some long-awaited closure to the 2023 sports betting year Monday when it published the final state revenue report that detailed December action.

From the first reports found Feb. 4 from West Virginia and Delaware all the way through Monday, there were interesting numbers, strange numbers, mind-boggling numbers, and in general, a lot of numbers. Three hundred and forty-eight reports later, here are some of the more memorable numbers in a record-setting year of betting in the United States that saw more than $120 billion in bets placed and operators keeping more than $10.8 billion in sports betting revenue.

-$4,963,302: The negative adjusted gross revenue bet365 had at the end of March in Virginia; its largest deficit while allowed to count promotional credits and bonuses against gross revenue throughout 2023 in its first year of operations.

-$1,816,864: The combined negative gross revenue of Kansas‘ four retail sportsbooks in February, largely due to Patrick Mahomes and the Kansas City Chiefs winning Super Bowl LVII.

-48.59%: The negative hold on USFL betting in South Dakota as bettors (maybe a bettor?) came out $898 ahead on $1,848 wagered in 2023.

-0.01%: The closest hold on either side of 0% by a sports betting app in Arizona, accomplished by Betfred in November when bettors came out $327 ahead on $3.8 million handle.

3: Total of $2 billion monthly handles generated in New York in 2023.

4: States that finished with negative monthly gross revenue in 2023: Massachusetts (-$7,248 on Jan. 31); Kansas (-$845,377 in February); Nebraska (-$508 in June); and South Dakota (-$,9254 in June).

9.1001%: The 2023 national hold percentage on gross revenue, excluding Tennessee handle and Nebraska revenue. That was up more than one full percentage point from 2022.

11.46%What the hold would have been in Louisiana in December had only parlay revenue ($43,196,591) been counted against total handle ($377,046,566). It was 14.99% overall.

14: States and jurisdictions where FanDuel posted a 10% hold or higher via mobile wagering. It barely missed in Kentucky (9.97%) and Arizona (9.84%).

21: Total of $1 billion monthly handles recorded in 2023 spanning New York (8); Illinois (6); New Jersey (6); and Ohio (1).

29.21%: The hold percentage on parlays in New Jersey for the month of July, the highest of any state with a minimum $10 million handle that publishes both handle and revenue figures in 2023.

50.02%: The percentage of retail sportsbook revenue ($240,779,000) of overall sportsbook revenue ($481,393,000) in Nevada in 2023 as brick-and-mortar venues won $185,000 more than their mobile counterparts.

72: The number of instances states had at least $50 million in monthly sportsbook revenue in 2023, up from 53 in 2022.

92: The number of instances states had at least $500 million monthly handle in 2023, up from 69 in 2022.

95.24%: The year-over-year percentage decline in revenue for Hollywood Indiana in Lawrenceburg, severely impacted by both Ohio and Kentucky launching sports betting in 2023. Winnings plummeted from $13.7 million in 2022 to $654,000 in 2023.

$110.18: The average amount per wager in 2023 made at The Cloakroom, a strip club in Washington D.C.

300: The number of monthly revenue reports (out of 348) in 2023 in which states surpassed the 7% industry standard hold.

$1,022,869: The operator revenue for table tennis in Colorado in September, the only time it has surpassed $1 million in state history.

$319,983,071: The worth of promotional credits and bonuses given to Ohio bettors in January during the Buckeye State’s sports betting launch.

324,455,526: The total number of wagers placed in Illinois in 2023, the largest marketplace that provides volume of wagers in its monthly data.

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