Earlier this year, a record 67.8 million American adults bet on the Super Bowl — that’s more than a quarter of the U.S. adult population and a 35% increase from the previous year, according to the American Gaming Association .
For 25 years, sports betting was banned outside of Nevada—then in 2018, the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act. Over the next six years, sports betting quickly became one of the most popular forms of gambling . Now, 38 states and Washington, D.C. allow online or in-person betting.
Sports betting may seem like betting on a basketball game or putting money down on a horse race. It is the fastest-growing source of state tax revenue, The Washington Post reported. Tax revenue generated by sports betting helps fund state resources, including road and highway construction, public education, law enforcement and gambling addiction programs.
These states raise the most revenue in taxes from legal sports betting:
How much money do states make from sports betting?
At the end of last year, New York state collected $260 million in tax revenue from legal sports gambling. New York made the most money in the fourth quarter, according to the Census Bureau’s quarterly summary of state and local tax revenue.
The Northeast recorded higher revenues from sports betting, compared to other regions of the country.
Since 2021, taxation on sports betting has quadrupled, according to The Washington Post.
Which states bet the most money on gambling?
Since 2018, New Jersey has reported the highest total money wagered on sports betting – $51.6 billion in total. New Jersey surpassed Nevada (home to Las Vegas, a city notoriously linked to gambling) in total betting in 2021.
According to Legal Sports Report, operators generated $30 billion in gross revenue with more than $360 billion in money wagered.
The following states brought the most sports games:
The rise of sports betting is a source of income:Are states doing enough to curb gambling addiction?
Who bets money on sports?
An estimated 26% of Americans have bet on sports at some point and 10% reported betting money online, according to a YouGov survey.
Men are more likely to bet on gambling than their female counterparts, with 35% responding yes to ever betting money on a sporting event. Hispanic and white people are also more likely to bet money on a sporting event compared to black adults.
If you or someone you know has a gambling problem, help is available. Call the National Council on Problem Gambling 24/7 at 1-800-GAMBLER (NJ, OH), 1-800-522-4700 (CO), 1-800-BETS-OFF (IA ), 1-800-9- WITH-HIM (INSIDE). Sports betting and gambling are not legal everywhere. Make sure you comply with applicable laws where you reside.
