US Sportsbook Operators Reach Billion-Dollar Handle in September
Most pay per head blog content will have a lot of updates on US sports betting. Last year, the US Supreme Court was working on repealing PASPA, which was exciting, as this means that the US could finally offer sports betting. During this time, experts were arguing that sports betting could potentially have a $150 billion handle annually. Of course, we now all know that since May 2018, PASPA has been repealed. But have the estimates made by experts meet the reality in the US Sportsbook handle?
Currently, there are only 13 states who offer legal sports betting in the US. This is just a quarter of the whole country. The data we see is not totally representative of the whole market, since states did not allow sports betting at the same time. But to get a better picture of the sports betting industry, let’s take a look at the numbers for September.
US Sportsbook Handle in September
According to the American Gaming Association, there are now around 52 million Americans who are able to place bets in the US, which is thrice the number as the previous year. From 6 states in 2018, there are now 13 states so far. For the first 9 months of 2019, we have seen $7.8 billion worth of wagers. This shows a $1.2 billion increase from 2018.
The numbers for this year may also still rise, especially with 6 more states slated to join in the legal sports betting train in the US. September alone was great, with a handle of around $1.4 billion. While it is far from the $150 billion estimate, the numbers show a steady growth in the industry.
Online Sports Betting
And the ability to place bets on sports events is not the only issue here. A lot of pay per head sportsbook operators enjoy a steady income from running their own sportsbooks. After all, the ability to offer players the option to bet on sports from their very own phone and laptop is very convenient for all parties involved. Not all states acknowledge this, however, as some states only offer physical betting at gambling shops across their states.
But the online sports betting market is growing faster than ever. In New Jersey alone, the number of online wagers has jumped to 82% since it was introduced in the state. By offering online sports betting, states can potentially earn more from taxes on revenues that sportsbooks generate. And with sound proof of a healthy and growing sports betting market, the US betting market will only progress as more states legalize sports betting.