ODDS.com Projects March Sports Betting Handle per State
LONGBOAT KEY, Fla., April 14, 2021 (Newswire.com) - Sports betting across the US saw $3,996,076,889 wagered in February, only $378,923,111 less than January. That's more than projected for a short month with one football game. As of today, 5 states have reported betting data. Based on those, March is expected to be another record month.
March 2021 Sports Betting Handle
| State | Handle | Revenue | Tax Revenue |
|---|---|---|---|
| Delaware | $6.7 Million | $965,419 | $482,174 |
| Indiana | $317 Million | $26.4 Million | $2.5 Million |
| Iowa | $161.4 Million | $13.5 Million | $908,011 |
| W. Virginia | $42.8 Million | $3.9 Million | $330,603 |
| Gambet DC | $3.8 Million | $715,244 | $-- |
Delaware experienced a decline from February. Revenue and taxes did increase. That's good for a state not offering an online product. Casino's driven by foot traffic will continue to be impacted by Covid.
Indiana used basketball to bounce back from a weak February reporting $317m in bets placed. The bulk of that number comes from $279m in online wagers, compared to $37.5m from retail locations.
The partnership between Ameristar East Chicago and DraftKings/theScore accounted for the majority of the handle at $120,414,215. $114,224,535 was from online betting while $6,189,680 was from walk-up sportsbooks.
Blue Chip Casino/FanDuel came in second with $92,409,340 in handle. $91,260,954 came online and $1,148,386 was through the casino.
Third, Belterra/BetMGM took $40,237,180 in bets, $39,432,282 online and $804,898 at the retail location.
Iowa surpassed January and February performance, reporting handle at $161.4m. March was a record-breaking month for the state, with highs in both revenue at $13.5m and taxes at $908,011.
11 Online Sportsbook operators operate in the state and aggressively marketed the tournament knowing that college basketball is popular in Iowa. $139.4 million in online bets were placed. $22 million was bet at retail locations.
Washington DC's GambetDC did not experience growth growth in March. Handle came in at $3.8 million, $200k shy of February, yet revenue did increase by $115k. ODDS.com attributes the lack of growth to less marketing, which is typical of sportsbooks under their state's lottery.
William Hill, a global brand and the only other licensed bookmaker in DC, is expected to report soon. Growth from WillHill would again highlight how lottery-run bookmaking can fall short.
Can we expect Record Breaking March Numbers for The Rest of The States?
ODDS.com has made projections for states yet to report:
| State | Handle | Prev. High | Revenue | Prev. High |
|---|---|---|---|---|
| Arkansas | $5.5m | $7.2m | $1.39m | $1.4m |
| Colorado | $337.7m | $326.9m | $23m | $23.1m |
| Illinois | $590.1m | $581.5m | $48m | $47.9m |
| Michigan | $419.5m | $325.6m | $26.8m | $17.4m |
| Mississippi | $68m | $67.7m | $13.7m | $12.3m |
| Nevada | $660m | $659.9m | $53m | $61.8m |
| New Hampshire | $62.7m | $59.8m | $5.2m | $4.8m |
| New Jersey | $990m | $996.3m | $60.1m | $82.6m |
| Oregon | $35.8m | $34.9m | $4m | $4.1m |
| Pennsylvania | $620.6m | $615.3m | $55.4m | $49.3m |
| Rhode Island | $40.26m | $39,8m | $5.5m | $6.3m |
| Tennessee | $225.7m | $211m | $23.8m | $21.8m |
| Virginia | $325m | $265.8m | $15.5m | $12.2m |
For more information contact Bill Colleoni CEO of Odds.com at (210) 863-6929 or bill@odds.com.
Source: Odds.com
