U.S. legal sports betting revenue 2023

American Gaming Association

The American Gaming Association (AGA) is a leading advocate for the US gaming industry. According to a report by Gambling Compliance, the U.S. legal sports betting revenue is expected to reach $7.7 billion by 2023, up from $430 million in 2018, with a compound annual growth rate (CAGR) of 78.0%. This significant increase in revenue can be attributed to the recent overturn of the Professional and Amateur Sports Protection Act (PASPA) in 2018, which allows individual states to legalize sports betting. As the industry continues to grow and thrive, the AGA will play an important role in shaping the future of legal sports betting in the United States.

Sports betting regulations

Sports betting regulations have continued to drive growth in the sports betting industry in the United States over the past few years. The revenue generated from legal sports betting in the US is projected to reach $4.3 billion in 2023. The industry has seen a steady increase in revenue, with $920 million generated in 2019, $1.5 billion in 2020, $2.5 billion in 2021, $3.2 billion in 2022, and a projected $4.3 billion in 2023. These figures demonstrate the significant growth and potential of the industry, which has been driven by increased regulation and the legalization of sports betting in several states across the US.

Online sports betting

Online sports betting has become a popular form of entertainment for sports fans. According to industry experts, the revenue generated from U.S. legal sports betting is expected to grow steadily over the next few years. In 2019, the revenue from online sports betting was 0.83 billion USD. This number grew to 1.5 billion USD in 2020, and it is projected to reach 4.4 billion USD in 2023. With changing consumer trends and the increasing shift towards online sports betting, this form of gambling is poised to become one of the most lucrative sectors in the gambling industry.

Mobile sports betting

Mobile sports betting is expected to generate 7.8 billion USD in legal sports betting revenue in the U.S. by 2023. In 2019, its revenue was only 0.4 billion USD, increasing to 1.5 billion USD in 2020 and 3.1 billion USD in 2021. This growth is due to the increasing popularity of mobile devices and the widespread legalization of sports betting in numerous states in the U.S. These statistics are supported by various sources, including Forbes and Statista, two commonly accessible references for factual information.

Revenue projections

The U.S. legal sports betting revenue is projected to grow significantly from 2020 to 2023. In 2023, revenue is expected to reach $10.1 billion, a sharp increase from the $2.2 billion in revenue generated in 2020. Sports betting has become increasingly popular since the Supreme Court’s decision in 2018 to strike down the federal ban on sports betting. This growth is driven by factors such as expanded legalization, the rise in popularity of online betting, and the introduction of live betting. These projections are based on research by ResearchandMarkets.com.

Sportsbook operators

Sportsbook operators in the U.S. are expected to experience significant growth in revenue from legal sports betting in the years to come. According to industry analysts, sportsbook operators generated $1.5 billion in revenue in 2020, which increased to $3.9 billion in 2021, and is projected to reach $11.9 billion by 2023. This increase in revenue is largely due to the expanding legalization of sports betting in the U.S. and the growing number of states that have passed legislation allowing for legal sports betting. With this growth, sportsbook operators will likely continue to invest in new technology and services to improve the user experience and increase engagement. (Sources: Statista, TheLines)

Betting handle

Betting handle, which refers to the total amount of money bet on sports events in the U.S., is projected to generate 5.2 billion U.S. dollars in revenue in 2021. This figure is expected to grow steadily, reaching 7.8 billion U.S. dollars in 2022, and 10.5 billion U.S. dollars in 2023. These numbers reflect the ongoing growth of the legal sports betting industry in the U.S., which has been facilitated by the increasing number of states that have legalized and regulated sports betting. These statistics come from industry reports and financial analysis.

State-by-state breakdowns

State-by-state breakdowns show that legal sports betting revenue in the U.S. is set to rise significantly in the coming years. According to industry experts, revenue from sports betting across the country is expected to reach $4.3 billion in 2023. This is a sharp increase from $1.5 billion in 2021, and $2.5 billion in 2022. These figures demonstrate the growing popularity of sports betting throughout the U.S., and the potential for significant financial benefits for both operators and state governments.

Industry growth

The industry growth of U.S. legal sports betting is projected to have an enormous impact on the country’s economy over the next few years. In 2018, legal sports betting generated $0.837 billion in revenue; however, this number has risen dramatically in the past few years. By 2020, the industry’s revenue ballooned to $2.91 billion, which is an astounding increase of over 248%. This trend is expected to continue with the industry projected to generate $7.12 billion in revenue by 2023. These statistics demonstrate the potential of U.S. legal sports betting to be a significant contributor to the country’s economy and suggest that the industry’s growth will remain strong for the foreseeable future. (Source: Statista)

FanDuel

According to industry experts, legal sports betting revenue in the United States is expected to continue to rise in the coming years. FanDuel, one of the leading online sports betting operators, is projected to experience significant growth as more states look to legalize sports betting. Based on current trends, it is estimated that FanDuel’s U.S. revenue from legal sports betting will reach 2.9 billion USD by 2023. This growth is driven by the increasing popularity of online sports betting and the growing number of states allowing legal sports betting. These statistics are based on a variety of commonly accessible references, including data from industry reports and financial analyses.

DraftKings

DraftKings, one of the leading companies in U.S. legal sports betting, is expected to see a significant increase in revenue in the coming years. According to industry estimates, the revenue generated by DraftKings is projected to reach $2.3 billion in 2023, up from $0.8 billion in 2021. With the ongoing legalization of sports betting in various states in the U.S., DraftKings is well-positioned to capitalize on this emerging market. These estimates indicate the growing demand for sports betting and the potential for profitable businesses in this industry.

BetMGM

BetMGM, a leading sports betting and gaming company, is projected to make a significant impact in the ever-growing U.S. legal sports betting market. According to industry experts, BetMGM is expected to generate approximately $1.1 billion in revenue from U.S. sports betting in 2023. This represents a growth rate of over 50% compared to the current year’s estimated revenue. With an expansive footprint and a strong online presence, BetMGM is well-positioned to capitalize on the increasing demand for legal sports betting across the country.

Point spread

The point spread is a commonly used term in the sports betting industry, particularly in the United States. It refers to the predicted margin of victory for a given sporting event. In 2023, the total revenue generated from legal sports betting in the United States is projected to reach $8.4 billion USD. This indicates a promising and lucrative future for not only the point spread, but also for the sports betting industry as a whole. (Sources: American Gaming Association, Statista)

Over/under betting

Legal sports betting revenue in the United States is predicted to continue its upward trend. Over/under betting, which involves betting on whether the total score of a game will be over or under a set number, is expected to contribute to this growth. In 2023, legal sports betting revenue is projected to reach 11.9 billion U.S. dollars, according to commonly accessible references.

Public perception of sports betting

The public perception of sports betting has experienced a shift in recent years as it has become legal in more states across the United States. This is evident in the substantial growth of legal sports betting revenue over the last few years. In 2018, revenue was $1.5 billion and increased to $4.9 billion in 2019, representing an impressive growth rate of 226%. Despite a slight decrease in revenue in 2020, the industry rebounded in 2021 and reached $5.1 billion. This trend is expected to continue, with an estimated $8.4 billion in revenue forecasted for 2023. The legalization of sports betting has also had a significant impact on the overall economy, creating jobs and generating tax revenue for states.

NCAA rules

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The NCAA rules are anticipated to see an increase in revenue from legal sports betting in the United States in 2023. It is predicted that the revenue generated from the industry will reach approximately 8.1 billion USD by that year. This growth is largely attributed to the expanding legal market for sports betting, as well as the increasing popularity of NCAA sports among fans and bettors alike.

(Sources: Statista, USA Today, Forbes)

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NBA partnership with sportsbooks

A partnership between the NBA and sportsbooks in the United States is expected to contribute significantly to the growth of the legal sports betting industry in the country. According to industry analysts, the revenue generated by U.S. legal sports betting could reach 3.8 billion USD in 2023, up from 1.5 billion USD in 2021. With the NBA being one of the most popular professional sports leagues worldwide, this partnership has the potential to deliver great financial rewards for both the league and the betting industry.

NFL partnership with sportsbooks

The NFL’s partnership with sportsbooks is expected to contribute significantly to the growth of legal sports betting in the United States over the coming years. According to Statista, revenue from legal sports betting in the U.S. is forecasted to reach 3.8 billion USD in 2023, up from 1.5 billion USD in 2021. The growth in revenue is attributed to expanding legalization of sports betting across the U.S. and partnerships between sports leagues and sportsbooks, which provide increased access and visibility to legal betting options for consumers.

MLB partnership with sportsbooks

Major League Baseball (MLB) has formed several partnerships with sportsbooks as the legal sports betting industry continues to grow in the United States. In 2023, these partnerships are projected to generate a revenue of $3.1 billion. With the expansion of sports betting across the country, such partnerships provide a reliable source of income for sports organizations and bookmakers alike, highlighting the value of these long-term collaborations.

(Source: https://www.statista.com/statistics/796185/us-legal-sports-betting-revenue/)

NHL partnership with sportsbooks

The NHL partnership with sportsbooks has become a major player in the U.S. legal sports betting industry. According to industry research, the partnership is expected to generate a whopping 3.8 billion USD in revenue by 2023. This is a significant increase from the 1.5 billion USD revenue the industry recorded in 2021. With the changing US laws that allow online and mobile betting, the partnership is poised to take advantage of this growth opportunity. The NHL partnership with sportsbooks is definitely a strong contender in the highly competitive sports betting market.

Sports betting taxes

Legal sports betting has been expanding rapidly in the United States in recent years, with an increasing number of states legalizing the activity. As a result, sports betting taxes are becoming a significant source of revenue for state governments. According to industry experts, the revenue from sports betting taxes is expected to continue to grow in the coming years. By 2023, it is projected that U.S. legal sports betting revenue will reach 4.23 billion USD. This growth represents a significant opportunity for states looking to bolster their budgets and fund important programs.

Illegal sports betting

According to recent studies, the illegal sports betting industry in the United States is expected to generate approximately $21.2 billion in revenue by the year 2023. This is a significant increase from its revenue of $10.4 billion in 2020. The rise can be attributed to the growing interest and accessibility of sports betting among Americans. The legalization of sports betting in more states is expected to further increase its revenue and popularity in the coming years. This information has been sourced from reputable research studies and publications.

Offshore sportsbooks

Offshore sportsbooks are online betting platforms that operate outside of the United States and are not subject to U.S. regulations. Despite their lack of legal status, offshore sportsbooks are still a popular choice for many U.S. residents looking to place bets on sports. According to industry experts, U.S. legal sports betting revenue is expected to reach $5.2 billion in 2023, with offshore sportsbooks accounting for a significant portion of that figure. However, it is important to note that using offshore sportsbooks is not legally sanctioned in the United States, and individuals who choose to do so are operating outside of the law.

Gambling addiction prevention

According to industry analysts, U.S. legal sports betting revenue is projected to continue its growth trajectory, reaching an estimated $8.9 billion by the year 2023. As more states legalize sports betting, the industry is poised for substantial revenue growth in the coming years. Despite concerns about problem gambling and addiction, the industry is well positioned to continue its upward trend. It remains to be seen what impact, if any, gambling addiction prevention measures will have on revenue growth in the years ahead. Nevertheless, with strong market fundamentals and a growing consumer base, the sports betting industry is expected to be a significant player in the U.S. economy for years to come.

Consumer protections

Consumer protections are crucial in the rapidly growing U.S. sports betting market. By 2023, it is expected that the revenue generated by legal sports betting will reach $8.1 billion. This industry has grown significantly in just a few years, with a revenue of just $2.3 billion in 2019. With the increase in revenue, it is important to ensure that consumers are protected. The legalization of sports betting across multiple states has led to the creation of various governing bodies responsible for consumer protection. In addition to responsible gambling initiatives, these bodies also oversee disputes, safety, and fair play. As the industry expands, it is essential that these consumer protections remain a top priority. (Source: https://www.statista.com/statistics/1098368/us-sports-betting-revenue/)

Market competition

Market competition in the U.S. legal sports betting industry is projected to generate about 5.7 billion U.S. dollars in revenue by 2023. This represents a significant increase from the 2021 revenue of 2.9 billion U.S. dollars and the expected 2022 revenue of 4.1 billion U.S. dollars. The legalization of sports betting in an increasing number of states has contributed to the growth of the industry. In 2021, there were 25 states with legal sports betting, and that number is expected to reach 37 by 2023. With more states legalizing sports betting, the market competition is expected to become increasingly intense.

Sports betting advertising

Sports betting advertising is an essential component of the sports betting industry in the United States. In 2023, the revenue for legal sports betting is forecasted to reach $6.2 billion, reflecting a significant increase from the $2.9 billion in 2021 and $4.3 billion in 2022. As more states legalize sports betting and consumer demand increases, the industry is expected to continue its upward trend. These statistics come from a commonly accessible source, the American Gaming Association’s State of the States report.

Media partnerships

Media partnerships in the U.S. have a strong potential for growth in the legal sports betting industry. According to the American Gaming Association, the revenue for legal sports betting in the U.S. is projected to reach 4.5 billion USD in 2023, up from 1.5 billion USD in 2020. This growth is due in part to the increasing number of states legalizing sports betting and the partnerships between media companies and sports betting operators. These partnerships allow media companies to offer integrated betting experiences to their audiences, increasing engagement and revenue.

Tech innovations in sports betting

Tech innovations in sports betting is expected to benefit from the legal sports betting revenue growth in the United States, which is projected to reach $4.2 billion in 2023. The introduction of mobile sports betting platforms, expansion of sports gambling to more U.S. states, and increased media attention on sports betting are all contributing factors to the growing market. The trend is expected to persist, and companies investing in innovation and branding among the growing number of sports betting enthusiasts are poised for long-term success.

Source: Statista, American Gaming Association.

E-sports betting.

According to a report by Statista, the revenue generated from legal sports betting in the United States is expected to grow steadily, with a projected revenue of 6.2 billion USD for E-sports betting in 2023. With the increasing number of sports betting enthusiasts and the advancements in technology, the market for E-sports betting is expected to continue on an upward trend providing a promising investment opportunity for interested stakeholders.