US Sports Betting Revenue (September 2019)

Sports Betting Revenue September 2019

Propelled by the start of the 2019 NFL Season, legal sports betting markets across the US put up some jaw-dropping revenue numbers in September.

New Jersey sports betting revenue jumped from $25.2 million in August to $37.9 million in September.

Pennsylvania sports betting revenue more than doubled month-over-month, and Nevada sports betting revenue almost tripled from August to September.

That’s a Lot of Wagers

The nine states that report sports betting handle numbers tallied $1.36 billion in handle in September. Most of that came from the Big 3: Nevada, New Jersey, and Pennsylvania. Collectively the three states handled nearly $1.2 billion of sports betting wagers for the month.

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That’s an impressive number considering:

  • The nine reporting states represent about 12% of the US population.
  • Except for Nevada, these are new sports betting markets.
  • Many of the states are lacking online sports betting.

Sports Wars: Nevada Strikes Back

On the revenue front, New Jersey has been outperforming Nevada for several months.

As the chart below shows, that changed in September.

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The start of the NFL season was a boon for the Silver State, just as it was last year when it set new records for handle and revenue. Nevada proved once again that it’s still a sports betting destination and the king of big events like the start of the NFL season.

September 2019 wasn’t quite as good, with revenue coming in at $52.1 million compared to last year’s record tally of $56.3 million. Still, $52 million is a monster number, and it was more than enough to dethrone New Jersey for the first time since the spring.

Going forward, I expect Nevada (and other destination sports betting locales) to produce handle and revenue surges well above the national averages during other key events like the Super Bowl and March Madness.

And I’d be remiss not to mention that any lingering concerns that the spread of legal sports betting would cannibalize Nevada’s sportsbooks have been proven false.

Three States Control 80% of the Market

Nevada, New Jersey, and Pennsylvania accounted for nearly 80% of legal sports betting revenue reported in September. That said, a fourth state, Indiana, warranted its own data label in our market share chart below.

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Indiana sports betting is still in its infancy, and September was its first month of online betting. As more operators launch, and as the industry matures, Indiana’s share of the pie will continue to grow.

Can New Jersey Hold Off Pennsylvania?

Another noticeable change is the closing gap between New Jersey and Pennsylvania.

Pennsylvania’s sports betting industry still has that new car smell, and it’s slowly gaining ground. As more online operators launch, the Keystone State should continue to close in on New Jersey. Pennsylvania has the population advantage, and if New York online sports betting is legalized, a major funnel of New Jersey players would be cut off.

More Sports Betting States on the Way

The Oregon online lottery’s Scoreboard sports betting app launched in mid-October, and at least five more states are in the preparatory phase:

  1. Illinois (Legalized June 2019)
  2. Montana (Legalized May 2019)
  3. New Hampshire (Legalized June 2019)
  4. North Carolina (Legalized July 2019)
  5. Tennessee (Legalized May 2019)

And plenty of other states have their sights set on joining them.

Related: September 2019 US casino revenue report.

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