A report from the American Gaming Association shows U.S. sports betting posted a record $10.92B in revenue for 2023, according to Doug Greenberg of ESPN.com. The huge year “represented a 44.5% year-over-year increase from 2022,” which previously held the record. A handle of $119.84B (a 27.8% year-over-year increase) combined with an “increased year-over-year sportsbook win percentage of 9.1”% (up from 8.1% in 2022) contributed to the record. Another key factor “was the addition of five new legal betting states” -- Kentucky, Maine, Massachusetts, Nebraska and Ohio -- all going online in 2023. N.Y. “maintained its dominance at the top of the leaderboard by accumulating” $1.697B in 2023 revenue, while N.J. ($1.007B) and Illinois ($1.002B) each eclipsed $1B in annual revenue “for the first time.” The sports betting industry also “posted a record quarter by bringing in” $3.41B in revenue in Q4 of 2023 -- a “30.8% increase from the fourth quarter of 2022 and a 19.6% increase from the record set in the first quarter of 2023” (ESPN.com, 2/21).
