With sports betting taking hold across the US, revenue figures are starting to pile up. As expected, Nevada is way out in front. However, 12 months after the fall of PASPA, other states are finding their groove. Although none have managed to match Nevada as of May 2019, the likes of New Jersey, Mississippi and Pennsylvania are quickly making up ground.
Indeed, as we’ve shown in our exclusive US sports betting state revenue chart, May saw the Garden State take its overall revenue to $194 million. While that’s still a fair chunk less than Nevada’s May-to-May earnings of $330 million+, it’s a sure sign that US online sports betting is going strong a year after the Supreme Court striking down PASPA.
Fortunes Continue to Rise in Post-PASPA Era
While Nevada and New Jersey remain the “big two” in the US sports betting revenue stakes, other states are gaining momentum. Using our interactive state-by-state US sports betting revenue guide, you can see that Mississippi has started to find some momentum. March proved to be a significant month for the Magnolia State with sports betting pulling in $8.4 million.
That total was not only one of the best months since Mississippi sportsbooks went live, it helped the state’s casinos enjoy a 13% year-on-year uptick in revenue. Over in Pennsylvania, it’s been a similar story since sports betting was made legal. Looking through 2019’s monthly gross revenue data, the state has consistently seen profits top $2.5 million.
New Players Will Bring the Green
With states such as New Hampshire and Iowa entering the US sports betting scene in June, overall revenue will continue to increase. Of course, the US is far from its potential in the post-PASPA era. However, the latest data is encouraging. Indeed, as you can see when you look at US sports betting revenue by state, the seven states active players have generated more than $600 million in revenue since May 2018.
Once the industry’s newcomers enter the mix later this year, the $1 billion barrier will quickly move into sight. As this happens and the market grows, we’ll be tracking the progress of each state and analyzing their comparative fortunes. By following USBettingReport.com, you’ll get the latest financial insights as well regular revenue overviews. What’s more, we’ll keep you abreast of the latest regulatory updates and give you a complete breakdown of the US sports betting industry in our handy timeline.