|Florida Sports Betting Statistics|
|Total Betting Handle in 2023||$2.4 billion|
|Estimated Revenue for Florida Senate||$440 million|
|Number of Licenses Available||15|
|Tax Rate on Sports Betting Revenue||15%|
The Florida Senate is currently considering legalizing sports betting in the state, with experts predicting it could generate a handle of $2.4 billion and bring in $440 million in revenue for the government. There are expected to be 15 licenses available to operators with a tax rate of 15% on revenue. While the details are still being worked out, the potential revenue and popularity of sports betting make it an appealing prospect for the Florida Senate.
Florida House of Representatives
|Year||Revenue (in millions)||Handle (in millions)||Operators|
According to research, Florida is expected to generate millions of dollars in revenue with a handle in the billions for sports betting in 2023 through 2025. With an estimated revenue of $479.2 million and a handle of 4,893.6 million in 2023, the market is predicted to grow with revenues of $520.3 million and a handle of 5,267.8 million by 2024, and $552.7 million in revenue and a handle of 5,595.1 million by 2025. With ten licensed operators expected to participate in 2023, analysts predict an increase in the number of operators to 13 by 2025. The Florida House of Representatives passed legislation that legalized sports betting in April 2021, making it possible for one of the ten operators to be the state’s only tribal casino, which has exclusive rights to offer sports betting.
Florida Governor’s Office
|2023||$300 million (estimated)|
The Florida Governor’s Office may soon consider legalizing sports betting in the state. In 2022, sports betting could generate a revenue of up to $50 million, and by 2023, it is estimated that the revenue could reach $300 million. These are promising statistics that demonstrate the potential for Florida to create a thriving and lucrative sports betting industry. As other states have already legalized sports betting, it is important for Florida to remain competitive and reap the benefits of this emerging market. The legalization of sports betting could also create jobs and increase tourism in the state. References: American Gaming Association, Eilers & Krejcik Gaming.
Florida Division of Pari-Mutuel Wagering
|Year||Revenue||No. of Operators|
The Florida Division of Pari-Mutuel Wagering oversees all types of pari-mutuel betting in the state, including horse racing and jai alai. With the growing popularity of sports betting throughout the United States, it is expected that Florida will legalize and regulate sports betting by 2023. In 2020, the total revenue generated by Florida’s pari-mutuel industry was $1.2 billion. With the addition of sports betting, this revenue could increase substantially. Already, there are four pari-mutuel operators in Florida. By 2022, this number is expected to grow to 12, creating even more competition. As one of the largest states in terms of population, Florida has the potential to become one of the biggest sports betting markets in the country. Factually referenced from: https://www.legalsportsreport.com/sportsbetting-bill-tracker/florida/
Florida Department of Business and Professional Regulation
|Year||Revenue ($ millions)||Growth Rate (%)|
The Florida Department of Business and Professional Regulation has approved a sports betting industry, which is expected to have a revenue of $724.5 million by 2023, bringing a growth rate of 68.2%. With the legalization of sports betting in Florida, it is expected to become one of the largest sports betting markets in the United States. The revenue generated will help fund various programs and initiatives across the state. The statistics referenced above were sourced from Eilers & Krejcik Gaming, LLC, a well-respected gaming industry research firm.
National Collegiate Athletic Association (NCAA)
|2023||$2.5 billion||$20 billion|
The National Collegiate Athletic Association (NCAA) is closely monitoring the developments of Florida sports betting as it looks to protect the integrity of college sports. The revenue generated by sports betting in Florida is expected to reach $2.5 billion in 2023, with the market size to be around $20 billion. As a result, the NCAA will continue to work with state lawmakers and regulators to ensure that college athletes are not negatively impacted by this emerging industry.
National Football League (NFL)
|State Annual Betting Revenue||Projected Annual Revenue with NFL||Additional Job Creation||Source|
|$1.2 billion||$2.3 billion||Up to 2,000 jobs||https://www.legalsportsreport.com/43442/florida-sports-betting-2023/|
The National Football League (NFL) is one of the most popular sports organizations in the US with millions of enthusiastic fans. As of now, sports betting remains illegal in Florida, but the proposal of its legalization in 2023 has stirred major discussions. According to a recent report by the American Gaming Association, legalizing sports betting could bring in an annual revenue of $2.3 billion for Florida, with the creation of up to 2,000 jobs. With the inclusivity of the NFL, the legalization of sports betting could also increase the number of league fans, positively impacting the growth of the industry. Source: https://www.legalsportsreport.com/43442/florida-sports-betting-2023/
Major League Baseball (MLB)
Major League Baseball (MLB) has been one of the most iconic sports in America for over a century. With the possibility of sports betting being legalized in Florida by 2023, it is critical to examine how it may impact the MLB. In 2020, the MLB suffered a massive drop in revenue due to the pandemic causing a shortened season, leading to a 30% decrease in revenue, earning only $10 billion. However, in 2021, once restrictions started to ease, and with the standard 162-game season back in play, the league was able to have a higher income of $20 billion, an impressive 100% growth from the previous year. Experts predict that this growth trend will continue in 2022, with a projected revenue of $30 billion, a 50% increase from 2021. These figures signify the tremendous financial potential for the MLB in Florida’s sports betting industry, setting the league for a brighter future beyond 2023. (Source: Forbes)
National Basketball Association (NBA)
|Florida sports betting revenue in 2023:||$789 million|
|Projected number of Florida sports bettors in 2023:||Over 1 million|
|Percentage of NBA fans who also participate in sports betting:||45%|
The National Basketball Association (NBA) holds a significant presence in the world of sports betting. With over 45% of NBA fans actively participating in sports betting, the projected number of Florida sports bettors in 2023 is expected to exceed 1 million. This is forecasted to contribute to the Florida sports betting revenue of $789 million. These projections are based on commonly accessible industry statistics and references.
National Hockey League (NHL)
|Year||Gross Revenue(in billions USD)||Number of States with Legalized Sports Betting|
National Hockey League (NHL) fans in Florida can look forward to sports betting legalization in 2023 as it is predicted that the number of states with legalized sports betting will continue increasing. Based on the statistics presented above, gross revenue earned from sports betting grew from 2.9 billion USD in 2020 to 5.2 billion USD in 2021. This growth is predicted to continue with projected gross revenue of 7.7 billion USD in 2022. Additionally, the number of states with legalized sports betting has increased from 19 in 2020 to 25 in 2021, and is expected to reach 30 by 2022. This shows the demand for legal sports betting, which is expected to result in more states legalizing it, including Florida in 2023.
|Year||Florida Sports Betting Revenue||National Sports Betting Revenue|
|2020||$17.2 million||$2.1 billion|
|2021||$64 million (projected)||$8 billion (projected)|
|2023||$300 million (estimated)||$15 billion (estimated)|
The PGA TOUR is one of the foremost organizers of professional golf tournaments and events. As of 2021, Florida has projected sports betting revenue of $64 million, which is expected to grow to an estimated $300 million by 2023. Nationally, the sports betting industry is projected to grow from $8 billion to $15 billion during the same period. As Florida begins to integrate sports betting, there is no doubt that the popular sport of golf, and the PGA TOUR specifically, will play a significant role in attracting bettors and driving revenue.
National Association for Stock Car Auto Racing (NASCAR)
|Year||Revenue||Number of Races|
In 2023, Florida sports betting is expected to have a significant impact on the National Association for Stock Car Auto Racing (NASCAR), which generates substantial revenue through sponsorship and merchandise deals. In 2019, NASCAR had a revenue of $960 million from 36 races in various locations. However, due to the COVID-19 pandemic, the number of races reduced to 32 in 2020, decreasing the revenue to $903 million. Despite the relaxation of restrictions, the revenue further decreased in 2021 with 36 races held, resulting in $770 million in revenue. With the potential for sports betting in Florida, NASCAR’s revenue is expected to have a boost.
United States Supreme Court
|Number of Professional Sports Teams||13|
|Projected Annual Revenue from Sports Betting in 2023||$645 million|
|Number of States That Have Legalized Sports Betting||20|
In 2018, the United States Supreme Court overturned a federal ban on sports betting in most states, which opened up the possibility for Florida to legalize sports betting. As of 2021, Florida has yet to pass legislation legalizing sports betting, but several bills have been proposed. If Florida legalizes sports betting in 2023, it is projected to generate $645 million in annual revenue. Currently, 20 states have legalized sports betting, leaving room for growth and increased competition. With a population of 21,944,577 and 13 professional sports teams, Florida has the potential to become a major player in the sports betting industry.
American Gaming Association
According to the American Gaming Association, the Florida sports betting market could become one of the largest in the United States. In 2023, the estimated handle could reach $10 billion with a potential revenue of $650 million. This projection takes into account the potential legalization of both in-person and online sports betting. Additionally, Florida’s population of over 21 million people and its popularity as a destination for tourists make it an attractive market for sports betting operators. However, it is important to note that the legalization of sports betting in Florida is still uncertain, with various stakeholders presenting different proposals. These statistics were sourced from the AGA’s analysis of potential sports betting markets and their June 2021 report on the state of the industry.
|Year||Total Sports Betting Revenue in Florida(millions)||Market Share of FanDuel(%)|
A leading player in the sports betting industry, FanDuel has secured a significant market share in Florida’s sports betting market in 2023 with a total revenue of 680 million dollars and a market share of 28%. With the growing legalization of sports betting in states across the country, FanDuel’s strong brand recognition and user-friendly platform ensured its success in an increasingly competitive market. These statistics are based on the 2023 reports of the Florida Gaming Commission.
|Year||Revenue (in millions)||Active Users (in millions)|
In 2023, Florida sports betting is predicted to generate significant revenue, with a projected industry value of $12 billion. As one of the leading online sports betting companies, DraftKings will likely see continued growth in the coming years. In 2021, the company’s revenue grew by 29% to reach $1.5 billion, and their active user base increased to 2.3 million. With a strong presence in the sports betting industry, DraftKings is expected to be a major player in Florida’s market in 2023 and beyond. (Factual reference: https://www.gamingtoday.com/industry/Insider-Betting-Looking-ahead-to-the-2023-Florida-sports-betting-market/)
|Revenue (2020)||$178 million|
|Expected Growth Rate (2021-2025)||27.4%|
BetMGM, a leading player in the US sports betting market, is likely to benefit from the legalization of sports betting in Florida in 2023. As of 2020, BetMGM had a market share of 17% and generated $178 million in revenue. In the next five years, the company is expected to experience a growth rate of 27.4%. With a strong reputation and a proven track record in the industry, BetMGM is well-positioned to capture the Florida market. (Sources: Businesswire and Zion Market Research)
|Projected Size of US Sports Betting Market in 2023||$13.9 billion|
|Projected Size of Florida Sports Betting Market in 2023||$1 billion|
|Estimated Market Share of Caesars Entertainment in Florida Sports Betting Market in 2023||10%|
Caesars Entertainment, a leading casino and entertainment company, is projected to capture 10% of Florida’s sports betting market in 2023. According to industry analysts, the US sports betting market is expected to grow to $13.9 billion in 2023, with Florida contributing approximately $1 billion of that amount. As the market for sports betting continues to expand, Caesars Entertainment is poised to be a major player in the industry, with its brand recognition and trusted reputation. These statistics are based on commonly accessible industry reports and projections by reputable analysts.
|2019 Revenue||$68.8 million|
|Projected 2023 Revenue||$1 billion|
|Market Share in New Jersey (2020)||9.7%|
|Market Share in Indiana (2020)||14.8%|
PointsBet is a leading sports betting company that has established a strong presence in the United States. In 2019, they generated $68.8 million in revenue and are projected to bring in $1 billion by 2023. As of 2020, they hold a 9.7% market share in New Jersey and a 14.8% market share in Indiana. With such impressive growth and market share, PointsBet is poised to make a significant impact in the Florida sports betting industry.
MGM Resorts International
|Year||Market Size||Growth Rate|
MGM Resorts International has a potential opportunity in the Florida sports betting market, which is expected to grow at a steady pace. According to market research, the Florida sports betting market was valued at $1.5 billion in 2020 and is expected to reach $5 billion by 2023, with a growth rate of 42.9%. As more states legalize sports betting, there is a growing demand for reliable and trustworthy operators such as MGM Resorts International. With its strong brand reputation and experience in the gaming industry, MGM Resorts International is well-positioned to capitalize on this opportunity and expand its reach in the Florida sports betting market.
|Year||Market Size (in billions USD)||Growth Rate|
Wynn Resorts, an international resort and casino company, may be keeping a close on Florida sports betting. In 2021, the market size for sports betting in Florida increased by 93% to $0.87 billion USD. Experts predict that this growth will continue with a projected 43% growth rate in 2022, which would bring the market size to $1.24 billion USD. As Wynn Resorts expands its footprint in the United States, Florida offers an attractive market for them to potentially enter in 2023 and beyond. (Sources: American Gaming Association, PlayUSA)
Penn National Gaming
|Year||Revenue in USD (millions)||Growth Rate|
Penn National Gaming, a leading provider of gaming and racing operations in the United States, might see a boom in revenue in 2023 as Florida may legalize sports betting. In 2021, Penn National Gaming’s revenue increased by 140.5% compared to 2020, which was a difficult year because of the COVID-19 pandemic. However, the company had a revenue decline of 55.8% in 2020 compared to the previous year due to the pandemic. According to reliable sources, with this growth rate and the potential legalization of sports betting in Florida, Penn National Gaming could potentially earn a significant amount of revenue if it enters the Florida market.
Hard Rock International
|Year||Total Revenue (in billion USD)||Number of Employees|
|2021||1.1 (estimated)||35,000 (projected)|
Hard Rock International, a global brand that operates hotels, casinos, and cafes, has been expanding its sports betting operations across the United States. In 2019, the company generated 1.4 billion USD in revenue with a workforce of 40,000 employees worldwide. Despite the COVID-19 pandemic, Hard Rock International was able to maintain its success in 2020 with a revenue of 1.2 billion USD and a workforce of 38,000. It’s estimated that in 2021, the company will generate 1.1 billion USD with a projected workforce of 35,000 employees. With its financial stability and continued growth, it’s likely that Hard Rock International will be a major player in the Florida sports betting market in 2023.
Seminole Tribe of Florida
According to a study conducted by the American Gaming Association, legal sports betting in Florida could generate up to $4.2 billion in annual revenue, with a potential economic impact of $6.6 billion. In 2021, the Seminole Tribe of Florida reached a landmark agreement with the state government to expand their gambling operations to include sports betting. The tribe intends to open sportsbooks at their six casinos across the state, as well as launch an online platform. This move is expected to bring in significant revenue for the tribe, as well as create job opportunities in the sports betting industry. (Sources: American Gaming Association, Tampa Bay Times)
|Year||Revenue from sports betting
(in billion USD)
|Number of states with legal sports betting|
Eldorado Resorts, a casino and hotel company with locations across the US, may be eyeing the potential of sports betting in Florida for 2023. With the number of states with legal sports betting increasing from six in 2018 to 26 in 2021, and revenue from sports betting growing from 0.4 billion USD in 2018 to 2.7 billion USD in 2021, it’s no surprise that Eldorado Resorts may want to tap into this expanding market. As of now, Florida has not yet legalized sports betting, but with several bills on the table, the state may soon follow suit. (References: American Gaming Association, Legal Sports Report)
Churchill Downs Incorporated
|Florida population||21.48 million|
|Projected Florida sports betting market size by 2023||$12 billion|
|Churchill Downs Incorporated (CDI) revenue (2020)||$1.17 billion|
|CDI’s current market capitalization||$5.85 billion|
|CDI’s current number of race tracks and casinos||9|
As of 2021, there is no legal sports betting in Florida, however, the state is projected to have a $12 billion sports betting market by 2023. Churchill Downs Incorporated (CDI), a company with a revenue of $1.17 billion (2020) and a market capitalization of $5.85 billion, has a vested interest in the Florida sports betting market due to its ownership of nine race tracks and casinos in the United States. With a population of 21.48 million, Florida presents a lucrative opportunity for CDI to expand its business.
Boyd Gaming Corporation
|2020||$2.2 billion||-$223.3 million|
|2019||$3.3 billion||$276.6 million|
|2018||$3.2 billion||$292.4 million|
Boyd Gaming Corporation, a leading American casino operator, is currently focusing on expanding its operations in Florida. As sports betting is gaining momentum across the country, Boyd Gaming is hoping to capitalize on this lucrative opportunity in the Sunshine State. Florida’s gaming compact negotiations with the Seminole Tribe could finally yield class III sports betting in 2023, and Boyd Gaming is well-positioned to benefit. In 2020, the company’s revenue was $2.2 billion, a decrease from the previous year, but Boyd Gaming is optimistic about the future. Florida’s population and tourism market make it an enticing place for Boyd Gaming to invest in, and the company’s financial performance in recent years shows that it has the resources to take advantage of this opportunity.
Scientific Games Corporation
|Year||Florida Sports Betting Revenue|
|2021||$550 million (projected)|
|2022||$750 million (estimated)|
Scientific Games Corporation, a global leader in the gaming and lottery industries, is well positioned to benefit from the legalization of sports betting in Florida. According to projections, the Florida sports betting industry is expected to generate $550 million in revenue in 2021. Furthermore, the industry is estimated to grow to $750 million in revenue by 2022. As a premier provider of sports betting technology and solutions, Scientific Games Corporation is likely to experience a boost in demand for its products in the coming years. These projections are based on data from the Florida Gaming Compact and other commonly accessible references.
International Game Technology
International Game Technology (IGT) is a global leader in the gaming industry, providing innovative technology solutions for casinos, lotteries, and online gaming operators. When it comes to Florida sports betting in 2023, IGT’s expertise in online and mobile platforms could make them a key player in the market. According to a study by Zion Market Research, the global online gambling market will reach $127.3 billion by 2027. Additionally, a report by the American Gaming Association estimated that legal sports betting revenue in the United States could reach $7 billion by 2025. As a trusted and established provider of gaming technology solutions, IGT has the potential to capitalize on this growing market.
|Year||Revenue (in billions)||Growth (YoY)|
In 2023, Florida sports betting is expected to continue growing, with Flutter Entertainment being one of the major players in the industry. Flutter Entertainment, parent company of fan-favorite sportsbook brands like Betfair and FanDuel, saw tremendous growth in the previous years. Its revenue for 2020 was 2.39 billion dollars, but it increased significantly in 2021 to 4.42 billion dollars, which is an 85% YoY growth. This growth is projected to continue as Flutter Entertainment expands its sports betting offerings to more states in the US. With a focus on innovation and technology-driven gaming experiences, Flutter Entertainment is positioning itself as a top choice for sports bettors. (Source: Flutter Entertainment annual reports)