It has certainly been a wild ride for sports betting since it became legalized in 2018, starting out with a few states and growing to now 34 – with a couple of others awaiting a launch date. When analyzing the states making the most money from sports betting on the top betting apps, it's clear that the East is the beast in the marketplace. Of the Top-10 states making the most money from sports betting, four of them – New Jersey, New York, Pennsylvania, Virginia – reside in that area of the country.
In this article, we will dissect some of the states that are making the most money when it comes to sports betting on the best betting sites. Some of these states are almost a given, but others may surprise you.
New Jersey And New York Are Bringing In The Money
New York comes in at No.1 in terms of tax revenue, with a $1,0009,957,471 total to date. However, neighboring New Jersey is No.1 in terms of betting handle with a $37,504,316,513 total to date. What's interesting about these two states is that New Jersey had a 3.5-year head start on New York, and even took in about 25 percent of its business from the Empire State until January 2022 – when sports betting became legalized there.
Considering its start date, New York isn't far behind New Jersey, with a $23,407,473,632 betting handle generated by the top credit card betting sites to date. If this trend continues, New York will undoubtedly be No.1 in all regards soon enough.
Watch Out For Pennsylvania And Virginia
Not far from New Jersey and New York sits Pennsylvania, which ranks No.2 in tax revenue ($427,611,809) and No.5 in betting handle ($21,559,674,827) to date. The Keystone State is truly the dividing line between heavyweight states and the rest of the pack, considering it is taking in nearly $10 million more than the No.6 state (Indiana) in betting handle on the best PayPal betting sites.
Coming in at No.9 in betting handle ($10,019,131,704), Virginia is starting to make some noise in the sports betting market. This is particularly impressive, considering it is relatively new to the sports betting industry. Not to mention, Virginia doesn't have its customers running over to nearby District of Columbia or Maryland nowadays.
Other States Making Money From Sports Betting
Nevada was the only game in town before 2018, and you would think some of its luster would be taken away with tourists choosing to stay home and place their bets instead of coming out to the desert. However, Nevada is still No.2 in betting handle ($32,513,838,427), and if you've ever been out there, you'll understand that type of entertainment can't be duplicated anywhere else.
A couple of Midwestern states have come in strong with betting handles – Illinois at No. 4 ($22,572,379,238), Indiana at No. 6 ($12,323,826,901), and Michigan at No.8 ($10,518,618,683). All of these states have a good number of professional teams helping them out, in addition to very strong fanbases from its college teams. It also helps to have a decent amount of people living there too.
All in all, the state of sports betting appears to be in a great place. If any states are in flux about whether to get in on the action, look no further than the revenue generated by states that have profited handsomely so far.
This article is part of our Betting Promotions series.
