• Loading stock data...
Friday, December 13, 2024

August Sports Betting Revenue Increased 116.2% Year-Over-Year

  • Sportsbook operators generated $471.4 million in revenue for the usually slow month.
  • Commercial sports betting revenue has reached $3.97B — up 69.6% at the same point last year.
Rob Schumacher/The Republic

During a month usually known for a lull in the sports calendar, American sportsbooks still managed to rake in the cash.

Per the American Gaming Association, sportsbook operators generated $471.4 million in revenue for the month of August — a 116.2% increase year-over-year.

Commercial Gaming Industry Posts Record $14.8B Quarter

Sports betting saw a 58.7% revenue increase for the quarter year-over-year.
August 12, 2022

The industry saw organic growth YoY in all but two markets that were operational in August of 2021 (Delaware, -34.5% and Montana, -7.2%).

It’s another successful month for the books, which have had a very lucrative first eight months of 2022.

  • Commercial sports betting revenue has reached $3.97B — up 69.6% at the same point last year.
  • The year-to-date handle stands at $55.76B — up 86.0% from 2021.

Of course, a big reason for the sustained growth is the existence of six new legal betting jurisdictions from August 2021 to August 2022 — including big hitters like Connecticut, New York, and Louisiana.

Overall, the commercial gaming sector is becoming more and more massive by the month: August marked the 18th consecutive month with positive year-over-year gaming revenue growth.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Manchester City Is a Mess. It’s Still Breaking Revenue Records

As on-field losses mount, the Premier League giant reports record revenue.
Nov 3, 2024; Harrison, New Jersey, USA; New York Red Bulls midfielder Lewis Morgan (9) heads a ball during the first half against the Columbus Crew in a 2024 MLS Cup Playoffs Round One match at Red Bull Arena.

MLS Team to Play in ‘Sports Illustrated Stadium’ in $100M Naming Deal

It’s a partnership with a sister ticketing platform company, not the magazine.
Nov 15, 2024; Arlington, Texas, UNITED STATES; Mike Tyson (black gloves) fights Jake Paul (silver gloves) at AT&T Stadium.

Netflix Spectacle Made Tyson, Paul Top Trending U.S. Athletes of 2024: Google

The Yankees and Dodgers were among the top trending sports team searches in 2024.
DraftKings

Sens. Say DraftKings, FanDuel May Have Conspired to Crush Competition: ‘One Company’

The senators asked the FTC and DOJ to investigate the gambling companies.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.

Poker Pro Pleads Guilty to ‘Massive’ Sports Betting Tips Fraud

Cory Zeidman ran a scheme that amassed $25 million over 14 years.
Sports betting Analyst Steve Coughlin gives out high-fives on the set of ESPN's College Game Day at the University of Texas, ahead of the Longhorns' game against the Georgia Bulldogs in Austin, Oct. 19, 2024.
November 7, 2024

ESPN Bet at Critical Point As Penn Reports Quarterly Earnings

The two sides agreed to a 10-year deal last August.
DraftKings
November 8, 2024

DraftKings Lowers Full-Year Guidance After Brutal NFL Outcomes

DraftKings cited a tough start to the fourth quarter in lowering its 2024 guidance.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Nov 4, 2024; Kansas City, Missouri, USA; Kansas City Chiefs wide receiver DeAndre Hopkins (8) celebrates with quarterback Patrick Mahomes (15) after scoring against the Tampa Bay Buccaneers during the second half at GEHA Field at Arrowhead Stadium.
November 6, 2024

Missouri Becomes 39th State to Legalize Sports Gambling

Missouri was the only state with sports gambling on its ballot this election cycle.
November 5, 2024

On the Ballot: Sports Betting, Former Athletes Impacting the 2024 Election

Several U.S. Senate candidates have sports backgrounds, while Missouri voters will consider legalizing sports betting.
Tony Hinchcliffe at Donald Trump rally.
November 4, 2024

Sports Betting Companies Holding Comic at Arm’s Length After Trump Rally

Hinchcliffe drew criticism over his comments at a rally for Trump.
November 1, 2024

Polymarket Is Pushing Into Sports Betting

Once the ballots are counted, Polymarket needs to take on sports.