Gambling and sports were separate industries and limited to only a few states. Today, with more mobile options available, profits on sports betting are staggering. Depending on where you live, you might be able to bet on your favorite events, but this is not true everywhere. Some states are still heavily restricted, and others are transitioning to sports betting.
Here is the latest data on sports betting and sports betting industry trends. We also include a few sports gambling statistics. You will find stats on revenue, holds, taxes, and handles. Along with these unbelievable sports betting stats, we add which states are close to making sports betting legal.
Sports Betting Industry in 2022
From the NFL and NBA to the NHL, and other sports leagues, placing wagers on your favorite events is becoming increasingly popular. Maybe you want to know how many people bet on sports USA? Or you might be interested in what sport is bet on the most in the U.S.?
The legalization of sportsbooks and sports betting in the United States started in 2018. Profits are now soaring to a record 165%! Hence, wagering on sports is not limited to the United States, as the offshore betting industry is also gaining momentum.
Many have moved from areas like Costa Rica and now have regulatory licenses or are starting to enter fully regulated markets. Look up the top offshore betting sites or check the U.S. sports betting market size, and you will find that you can place bets on practically any sporting event, team, or player.
20 Stats About Sports Gambling in the United States
Often, bettors might question how big are the U.S. sports betting market? Or they will ask how statistics are used in sports betting? Choosing a reputable sportsbook and gambling site has a host of factors.
Around 47% of gamblers shop for a sportsbook based on reputation and trust. About 45% of bettors want a superior gambling experience, while 43% prefer the latest payment methods. Gamblers may also have questions about odds, promotions, and payouts.
Because sports betting numbers vary state to state as it is not legal nationwide, here is data to help you make an effective decision when selecting a sportsbook.
Thirty-two states offer sports betting.
On May 14, 2018, the PASPA (Professional and Amateur Sports Protection Act) was overturned. It gave states the ability to regulate betting.
According to the American Gaming Association, 32 states have “live, legal” sports betting legislation for consumers, which includes mobile sportsbooks, online, and legal retail:
- States with online sports betting: Mississippi, Montana, Nebraska, New Mexico, North Carolina, South Dakota, Washington
- States with suspended sports betting: Florida (Sanctioned in 2021)
- States with in-person sports betting: Arkansas, Delaware, Maryland
- States with both: Arizona, Colorado, Connecticut, District of Columbia, Illinois, Indiana, Iowa, Louisiana, Michigan, Nevada, New Hampshire, New York, Oregon, Pennsylvania, Rhode Island, Virginia, West Virginia
Only Indiana allows pre-game prop betting.
While sports betting types vary (props, totals, spreads, money lines), Louisiana, Michigan, Washington, and Wyoming allow props. Indiana allows pre-game prop betting. States that allow no props for their teams include Connecticut, Illinois, New Hampshire, and Rhode Island.
There were 80.1 million geolocation transactions recorded on a single weekend.
GeoComply data shows this figure is 100% higher than in 2021.
Currently, 40 states have gambling legislation in place.
AGA data shows some form of betting legislation exists in 40 states and the District of Columbia. However, nine states do not have legislation: Alabama, Alaska, Idaho, Kentucky, Maine, South Carolina, Texas, Utah, and Vermont.
Since 2018, gamblers have placed more than $127 billion in wagers.
Regulated sports betting in states like Pennsylvania ($14 billion), Nevada ($24 billion), and others total about half the betting handle. Revenues during this same block of time total $8.9 billion.
New York has two age requirements for sports betting.
In New York, the legal age requirement for gambling online or in a casino is 21 years of age. However, at tribal casinos, the legal age requirement is 18 years of age.
Last year’s handle was more than $57 billion.
With more people gambling on smartphones, 2021 was a record-breaker. The increase from 2020 – is a massive 165%.
The number of gamblers increased by 80% last year.
In 2021, a Morning Consult study found that people who bet on sports went up a staggering 80% from December 2021 to January 2021.
Florida and Nebraska are “Legal, Not Yet Operational” States
Ohio is currently legalizing sports betting, while Nebraska and Florida have but are not operational sports betting.
31% of gamblers range in age from 35-44.
A significant finding is only about 10% of gamblers aged 45-64 place wagers online each month. For people aged 65 or older, the number drops to 5%.
Women make up 33% of American bettors.
About one in every three gamblers is a woman, a 5% increase from 2021. And, when it comes to placing daily bets, it is a tight race: 18% of men and about 17% of women place daily wagers.
About 18% of bettors are non-white.
Based on Statistica data, nearly 83% of bettors are white. The 18% includes 11% blacks, 4% Latinos, 2% other races, and 1% Asians.
Every week, 12% of Americans gamble.
An additional 6% bet monthly, while 7% bet less than once a month, and 76% of people never place bets.
Gambling addictions occur 3x more in sports bettors than in other forms of gambling.
With more risky behavior in those who place sports wagers, bettors who gamble more than once every week are 5x more likely to have a gambling problem.
When it comes to leagues, hockey fans dominate sports betting.
62% of NHL fans have sports betting interests. With the NCAA, 59% of fans follow sports betting, while the numbers drop to 48% for NFL fans.
61% of bettors do it for the thrill.
Around 71% of people who gamble on sports do it to make a profit, while 51% find sports betting a challenge.
97% of gamblers do not research their bets beforehand.
Noteworthy is that only 81% of gamblers conduct research.
31% of gamblers look for the best betting odds, while 74% have more than one sportsbook.
Multiple accounts can mean bigger deposit match bonuses. However, a tip not every gambler knows is to compare the odds and bet with different sportsbooks as the odds will vary by event.
The betting hold from 2018 to 2021 went from 7.12% to 7.47%, respectively.
The handle for 2018 was $4,618,927,032 but for 2021 it soared to $57,345,118,346.
For March-April 2022, New York (7.50% hold) had $53,151,656 in taxes.
When it comes to sports betting revenue by state, with a handle of $1,396,791,941, the Big Apple’s revenue totaled $104,535,898.
The Forecast of the Betting Industry
If you are thinking about wagering money on a sports event, note that nine states still have sports betting restrictions. However, sports betting demographics will change in the coming months and years, so be patient if you currently cannot place wagers in your state.
Given the $57 billion handles, more states are eager to jump on board for the lucrative revenue streams.
For more betting news and reviews, visit Safest Betting Sites.