1. What States Allow Online Betting
2. Legalized Sports Betting States
3. Draftkings Sports Betting States
4. Legal Sports Betting States Today
5. Sports Betting States Revenue

Where Is Sports Betting Considered Legal In The United States? Before May 2018, only one state had full-service state-regulated sports betting options, that state being Nevada. At this moment in time, the number of states offering legal domestic sports betting is 19.

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• Some states with legal sports betting allow wagering via online betting sites and mobile devices, while others require bettors to visit a retail sportsbook or casino to place their bets in person. Check out the map and tables below to see where sports betting is legal and track the latest updates as new laws are passed and new markets become.
• 1 day ago  MarketWatch: Florida, the state where the Super Bowl is, was close to legalizing sports betting in 2020, but it never happened. How closely are you watching new states attempting to legalize.

ATLANTA (AP) — A bill that would legalize sports betting in Georgia and give tax revenue to the state lottery is in advancing in the state House, despite questions about whether a state constitutional amendment would be required to do so.

The House Economic Development and Tourism Committee voted 20-6 Tuesday to approve House Bill 86, sending it to the full House for more debate.

The measure would mandate that the Georgia Lottery Corp. give at least six licenses to companies that want to offer sports betting in Georgia. After the companies pay out bettors’ winnings, the state would tax the remaining proceeds at a 14% rate. Committee Chair Ron Stephens, a Savannah Republican, estimates that at even a 10% tax rate, that would bring in $42 million to increase funds available for HOPE college scholarships and state subsidies for prekindergarten classes and child care.

In addition, each operator would have to pay a $900,000-a-year license fee.

Atlanta’s four major league professional sports teams are seeking the bill. Stephens cited their “massive economic power,” saying teams that haven’t been able to fill stadiums.

“It’s for fan participation,” Stephens told the committee. “As I said earlier, the stands are empty. .. They believe that fan engagement is what sports betting is all about.”

Stephens, citing an American Gaming Association study, said millions of Georgians place billions of dollars of sports bets each year illegally. Online dragon link.

“We can legitimize it, if you will, through the lottery,” Stephens said. “If you’re going to do it offshore, why don’t we collect the revenue here in Georgia?”

Stephens expressed confidence that lawmakers could authorize the Georgia Lottery Corporation to offer sports betting. Voters authorized the lottery by state constitutional amendment in 1992. Others, including some state government lawyers, have questioned whether that would be legal, suggesting another constitutional amendment would be needed. Any such measure would require the approval of two thirds of each house of the General Assembly, followed by majority approval of Georgia’s voters.

The bill proposes allowing people 21 and older to bet. It would not allow betting on college or high school sports, and would prohibit betting on certain events such as injuries.

Opponents, though, say state-sponsored gambling encourages addiction and other social harms. They also don’t want to open the door beyond Georgia’s already massive lottery, saying they’re trying to avoid legislative support for a constitutional amendment allowing casinos.

“They should think this is terrible because it’s going to accentuate everything that’s negative about predatory gambling,” said Mike Griffin of the Georgia Baptist Mission Board, which lobbies for the state’s largest Christian denomination.

Griffin said he’s particularly worried about provisions that would allow betting on electronic sports.

“All this is going to do is prime children to get ready to gamble one day,” Griffin said.

People can currently bet on sports in 21 states and the District of Columbia, with five more states having moved to legalize gambling but not yet taking bets. Not all of those states allow online betting, as is envisioned in the Georgia proposal, with some requiring gamblers to physically go to casinos, horse racing tracks or other places. Among Georgia’s neighboring states, Tennessee allows online betting, while North Carolina is moving toward allowing in-person betting at two Cherokee-operated casinos.

The committee voted without allowing testimony from interested parties and without considering amendments, although a number of members expressed interest in amendments. Stephens said he anticipated a House-Senate conference committee if the bill moves forward and would consider possible changes sought by members while negotiating with senators.

Stephens said state Sen. Jeff Mullis, a Chickamauga Republican, is expected to carry a bill in the Senate that would propose a 10% tax rate and could allow wagering on collegiate sports. That legislation has not yet been filed. Stephens had originally proposed a 16% tax rate before lowering his plan to 14%. However, he characterized a 10% tax rate as too low.

Sports Betting Market Leaders By State

by Matias Dorta / November 12th, 2020

Introduction

U.S. online sports betting is akin to a digital gold rush. Each new state that legalizes online sports betting becomes a new frontier for the companies and operators competing for the U.S. market. In this blog, we will cover the states that have legalized online sports betting as of September 2020 and break down the current state of each market.

This blog will be updated monthly as new data becomes available (feel free to bookmark).

Sports Betting Market Leaders By State

The information below is based on the most recent data as of October 31, 2020, representing the various states that have regulated online sports betting markets. Market Leader refers to the leader for online sports betting. This is not a recommendation to buy or sell securities.

New Jersey

October 2020 Total Handle: $803 million

Online Percentage: 93%

Market Leader: FanDuel/Pointsbet

The Garden State has become the success story in U.S. online sports betting. New Jersey, which launched its first legal online sportsbook in the summer of 2018, is now the U.S. leader in online sports betting. The state set a record for single state monthly sports betting handle in the U.S. in August with a total handle of $667.9 million, and then broke its own record in September with a $748.6 million handle, and again in October passing $800M.

The state currently has over 10 live online sportsbooks, including DraftKings, FanDuel, BetMGM, William Hill, bet365 and more.

The market leader in New Jersey is FanDuel/PointsBet. FanDuel and PointsBet are both partnered with license holder Meadowlands, therefore, their revenue is reported together. The tandem recorded just under $30 million in revenue from online wagers in October. According to NJ Gambling Sites, FanDuel Sportsbook is responsible for a majority of that revenue. The runner-up in the New Jersey market is DraftKings/BetStars operating under Resorts license, the duo generated ~$14.6 million in revenue in October.

Related Companies: Flutter Entertainment, PointsBet, DraftKings, William Hill

Nevada

October 2020 Total Handle: $659.6 million

Online Percentage: 57.1%

Market Leader: William Hill

Nevada has a rich history of gambling as the first state to legalize most forms of wagering in 1931. In 2010, Nevada allowed sports betting apps to go live, which opened the door to wagering outside of a physical sportsbook. In October 2020, Nevada posted a $659.6 million sports betting handle. Despite seeing fewer tourists than last year, sports betting increased 21.3% from October 2019. Online mobile sports betting was responsible for a little over half of the handle in October 2020.

The market leader in Nevada is William Hill. The company boasts 32% of the total gross revenue market share in the state and attributes 69% of its bets taking place through its online channels. William Hill was recently acquired by Caesars Entertainment in a deal that values the company at $3.7 billion.

Related Companies: William Hill

Pennsylvania

October 2020 Total Handle: $525.8 million

Online Percentage: 89.8%

Market Leader: FanDuel

Pennsylvania is becoming one of the hottest online sports betting markets in the United States. I was in Philadelphia in September and every street corner had some sort of sports betting advertisement. The state set a sports betting handle record in September and followed that up with another record in October, reaching $525.8 million.

Online sportsbooks are aggressively going after the market with Penn National Gaming debuting the Barstool Sportsbook app in the state and DraftKings partnering with the Philadelphia Eagles to bring a premium lounge to Lincoln Financial Field.

However, the current market leader in the state is FanDuel. FanDuel sportsbook was responsible for $185 million of the October handle, followed by DraftKings ($123.4 million).

Related Companies: Flutter Entertainment, DraftKings, Penn National Gaming

Rhode Island

September 2020 Total Handle: $31.3 million

Online Percentage: 44.7%

Market Leader: William Hill

Rhode Island set a record in September 2020 for online betting with a total mobile handle of $14 million. The total handle in September topped $30 million, setting a 2020 record for the state. Rhode Island only has two sportsbooks in the entire state, and both are powered by William Hill, giving William Hill the entire market share.

If you are wondering why Rhode Island only has two sportsbooks in the entire state, taxes could be playing a role. Rhode Island imposes a whopping 51% tax on operators, making The Ocean State the highest taxed sports betting jurisdiction in the world.

Related Companies: William Hill

Indiana

October 2020 Total Handle: $207.5 million

Online Percentage: 83.5%

Market Leader: DraftKings

Indiana, like many other states on this list, hit a sports betting handle all-time high in September, surpassing $200 million for the first time. Sports betting in Indiana launched in October 2019 with three books, DraftKings, FanDuel, and BetRivers, and the former is the current market leader.

In October 2020, DraftKings ($90.5 million) and FanDuel ($63.6 million) accounted for close to 80% of the total online handle in the state. BetMGM came in third boasting a $20.1 million monthly handle.

The current market leaders will need to keep an eye out for William Hill / Caesars who made their intent to enter the market clear by signing a multi-year deal with the Indianapolis Colts.

Related Companies: Flutter Entertainment, DraftKings, William Hill

Iowa

October 2020 Total Handle: $81.9 million

Online Percentage: 69.1%

Market Leader: William Hill

Iowa legalized sports betting in May 2019 and William Hill, Elite Sportsbook, and PointsBet launched later in the year. In October 2020, the state hit a sports betting all-time high with $81.9 million in total handle. The overall online handle of $56 million during the month was also a record high for the state. William Hill, the market leader, accounted for close to $35 million in bets.

Related Companies: DraftKings, William Hill

Illinois

September 2020 Sports Betting Handle: $305 million

Online Percentage: 92%

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Market Leader: BetRivers

The sports betting handle in Illinois rose to $139.8 million in August, a 166.7% increase from July. The market leader for the month was BetRivers, which accounted for around 85% of the total handle during the month. However, this type of market share should not be expected to be maintained. Due to pandemic related in-person registrations closures and a complicated executive order by the governor, FanDuel and DraftKings were essentially unable to register new users for the entire month.

September should look different as it will be the first full month where FanDuel and DraftKings can freely onboard users. Also, William Hill and PointsBet entered the market in September. All this new competition should cut into BetRivers’ 85% market share from August.

September Update: As expected, in September 2020, BetRivers market share was reduced by new competition in the Illinois market. DraftKings brought in more than $95.8 million in wagers and nearly passed BetRivers, which led all online sportsbooks in September with a $98.5 million handle.

Related Companies: Flutter Entertainment, DraftKings, William Hill

West Virginia

September 2020 Total Handle: $76.9 million

Online Percentage: 77%

Market Leader: DraftKings

Sports betting in West Virginia saw a major boost from August to September. Total handle increased 90%, while revenue jumped 133% month-over-month. Currently, there are four major players operating in the state - William Hill, FanDuel, BetMGM, and the market leader, DraftKings.

Since launching in August 2019, DraftKings and its partner in the state, Hollywood Sportsbook, have seen $296 million in handle, with $94 million of that total coming from online bets.

BetMGM and FanDuel operate under the same license with The Greenbrier. The combined groups have brought in a total handle of $143 million, with $131 million of that total taking place online.

Related Companies: Flutter Entertainment, DraftKings, William Hill

Colorado

October Total Handle: $210 million

Online Percentage: 98%

Market Leader: DraftKings

Colorado sports betting has been on fire since its launch in May 2020. Sports betting in the state has seen a month-to-month increase in overall betting handle for five consecutive months. In July, CO passed $50 million in total handle for the first time; in September, the monthly handle surpassed $200 million. The growth can be attributed to a surge in online app accessibility. Bettors in Colorado can already wager on over ten different mobile apps, including DraftKings, FanDuel, BetMGM, BetRivers, and more. Users seem to be buying into the digital experience with over 98.4% bets being placed online since July 2020.

Estimates suggest that DraftKings is the market leader in Colorado followed by FanDuel, with both operators accounting for 84% of the state’s total gross gaming revenue since sports betting went live in the state in May.

Related Companies: Flutter Entertainment, DraftKings, William Hill

Oregon

September 2020 Total Handle: $26 million

Online Percentage: 100%

Market Leader: DraftKings-SBTech / Oregon Lottery

Oregon sports betting is complicated to say the least. The state only allows bettors to wager online through one app, Scoreboard, which is a partnership between the Oregon Lottery and SBTech. The app launched in October 2019 and as of March 2020, the Oregon Lottery had lost $2 million on the venture despite seeing ~$6 million in revenue. This is due to a complicated arrangement between the Oregon Lottery and SBTech who, according to Legal Sports Report, may have the better end of this deal. DraftKings and SBTech merged back in April 2020.

Oregon set a sports betting all-time high in September with $26 million in handle with football responsible for the majority of the action.

Related Companies: DraftKings

Washington DC

What States Allow Online Betting

September 2020 Total Handle: $15.4 million

Online Percentage: 20%

Market Leader: GameBet

Legalized Sports Betting States

Just like Oregon, online sports betting in Washington DC is only allowed through a government operated app. Washington DC allows bettors to wager online through GameBetDC, an app operated by the DC Lottery. The app has a 1.6 out of 5 rating in the Apple Store and is being dominated by the only alternative in the city, the land-based William Hill sportsbook in the Capital One Arena.

In September, the William Hill retail sportsbook saw $12.2 million in wagers, close to four times more than the $3.2 million wagered on GameBetDC during the month.

Despite having the advantage of being the exclusive online offering, GameBetDC’s competition is only getting stronger. William Hill is opening a brand new luxurious sportsbook and premium lounge in the Capital One Arena in 2021 (the current set up is temporary due to the pandemic) and FanDuel is set to launch a retail sportsbook with D.C. United inside Audi Field.

Draftkings Sports Betting States

Related Companies: William Hill

New Hampshire

October Total Handle: $47 million

Online Percentage: 85%

Market Leader: DraftKings

New Hampshire set a state record in October by reaching $47 million in total sports betting handle, with 85% of that handle coming online. 100% of the online handle was placed on the state’s only mobile sportsbook, DraftKings. The DraftKings Sportsbook app saw $40 million in handle during the month of October in New Hampshire.

Related Companies: DraftKings

Table

Legal Sports Betting States Today

* Information based off of September 2020 / October 2020 data. William Hill is the overall market leader in Washington DC, GameBet is the market leader for online betting because it is the only option allowed in the DC for online betting.

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Sports Betting States Revenue

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