ODDS.com Projects March Sports Betting Handle per State

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LONGBOAT KEY, Fla., April 14, 2021 /PRNewswire/ — 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.

Iowasurpassed 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.

Related Images

new-hampshire-sports-betting.jpg
New Hampshire Sports Betting
New Hampshire is expected to see record numbers for March.

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SOURCE Odds.com

https://markets.businessinsider.com/news/stocks/odds-com-projects-march-sports-betting-handle-per-state-1030305788

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