The US sports betting industry has reached an incredible milestone, with over $100 billion in accepted bets. This represents a 7.2% increase from last year’s total of $93.8 billion. The total amount of bets accepted now stands at $291 billion, with the recent figure making up 34.5% of that total.
The sports wagering segment was launched in multiple US jurisdictions in 2018, and has only seen increasing success since then. In its first year, the industry reported a total of $4.6 billion in accepted bets, which nearly tripled the following year, showing the growing interest in sports betting in the USA.
November has the potential to continue the trend of surpassing $10 billion in bets in a single month, following October’s total of $12.2 billion and September’s milestone of $11.6 billion. Newcomers to the industry, such as New York, New Jersey, and Illinois, have had a significant impact on the record, with New York leading the way with $17.14 billion in accepted bets.
Ohio has also shown promise in the industry, with a current total of $5.98 billion in accepted bets, just behind Nevada. Michigan, Kentucky, and Maine have also made their mark with impressive numbers.
The rise in numbers can be attributed to the accessibility of mobile betting, as well as the surprising performance of states like New York. FanDuel and DraftKings are also taking on the competition with ESPN BET, offering enticing promotions to attract customers.
Overall, 2023 has been a successful year for the sports betting industry, and with December still to come, there is an optimistic projection for the future of sports wagering in the US.