After Months of Depressed Sports Betting Numbers, Handles On The Rise

Sportsbook operators generated $64.2 million in revenue during the second quarter, a 46.3% year-over-year drop, according to the American Gaming Association. It was the first quarterly decline since sports betting became legal in the U.S. in 2018.

Even with the mass stoppage of live events, sports betting revenue for the first half of 2020 was still up 10.4%. That was aided by 12 states opening legal sportsbooks over the last year. New Jersey is back on the pre-pandemic hot streak as it reported $315 million in July bets, up from $54.6 million in April. 

Reported Sports Betting Handles

Indiana

— April: $26.3 million

— July: $70.9 million

Iowa

— April: $1.6 million

— July: $22.9 million