• Loading stock data...
Wednesday, October 8, 2025

Sports Betting Revenue Hit Record-Setting $4.3B in 2021

  • Sports betting revenue hit an all-time high in the U.S. in 2021.
  • That record may not last long as 2022 is off to a roaring start.
sports-betting
Sarah Kloepping-USA TODAY NETWORK

Sports betting brought in $4.3 billion in 2021 revenue, notching its best year by a wide margin.

The figure was a 179.7% increase from 2020 for the fledgling industry, which saw seven states open up sports betting markets last year, according to the American Gaming Association’s State of the States report. Tribal casino revenue wasn’t included in the tabulation.

  • New Jersey led the way with $816 million in revenue.
  • Pennsylvania, Illinois, and Nevada followed, with the top four states accounting for around half the country’s sports betting revenue.
  • Overall gaming revenue, which includes casino and iGaming proceeds, hit a record $52 billion – up 21.5% from the previous high in 2019.

Bet on Another Record Year

New York opened to mobile sports betting in January, bringing another huge market into the industry. The Empire State took in $320.9 million on $4.87 billion in wagers in the first quarter.

Sports betting revenue across the country rose 64.6% year-over-year in Q1, hitting $1.58 billion. Total gaming revenue grew 28.6% from the previous year to $14.31 billion.

The country’s three most populous states still do not allow sports betting, but California will have at least one measure on its ballot this November to legalize the practice. Florida may follow suit after a court blocked an attempt at legalization through a pact with the Seminole Tribe of Florida.

Texas is unlikely to consider new sports betting legislation until next year.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Inside NCAA Headquarters located in Indianapolis on Friday, March 10, 2023. Ncaa President Charlie Baker

NCAA Approves Plan to Let D-I College Athletes Bet on Pro Sports

The proposal still needs to be approved by D-II and D-III committees.
NYSE

NYSE Owner Pours $2B Into Polymarket at $8B Valuation

Prediction markets keep pushing further into the mainstream.

Live Personalized Betting Is Coming to Amazon’s NBA Streams

The streamer draws heavily from prior experience with the NFL and NASCAR.
Sep 18, 2025; Orchard Park, New York, USA; Buffalo Bills quarterback Josh Allen (17) runs the ball against the Miami Dolphins in the second half at Highmark Stadium.
exclusive

Kalshi, Polymarket Sought to Buy Prediction-Market Platform Novig

Novig is available in close to 40 states.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.

FanDuel, Jaguars Reach $5M Deal Over Employee Theft

A Jaguars employee stole $20 million and gambled much of it with FanDuel.
Sep 4, 2025; Philadelphia, Pennsylvania, USA; Philadelphia Eagles cornerback Adoree' Jackson (8) tackles Dallas Cowboys wide receiver CeeDee Lamb (88) during the third quarter of the game at Lincoln Financial Field.
September 5, 2025

Kalshi’s $27M NFL Opener Runs Into Tribal Challenge

California Tribes want Kalshi forced to implement geofencing.
Sep 8, 2025; Chicago, Illinois, USA; Chicago Bears quarterback Caleb Williams (18) rushes the ball past Minnesota Vikings safety Theo Jackson (26) during the second half at Soldier Field.
exclusive
September 10, 2025

Americans See Little Difference Between Prediction Markets and Betting

A survey found 85% of respondents believe sports event contracts are gambling.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Eagles
September 4, 2025

FanDuel Paying $80K for Eagles Trains Amid Transit Funding Fight

The gambling company is giving stopgap transit funding in Philadelphia.
Sep 1, 2025; Chapel Hill, North Carolina, USA; TCU Horned Frogs tight end DJ Rogers (0) catches a touchdown pass as North Carolina Tar Heels defensive back Kaleb Cost (21) defends in the fourth quarter at Kenan Stadium.
September 3, 2025

Polymarket Moves Closer to Reentering the U.S.

There’s yet more prediction markets momentum as the NFL season kicks off.
during the fourth quarter at Memorial Stadium in Clemson, S.C. Saturday, August 31, 2025.
September 2, 2025

Underdog Bets on Prediction Markets With Crypto.com Deal

Sports event contracts will be offered in 16 states.
Rob Bonta
August 29, 2025

Users Sue Daily Fantasy Companies After California Calls Them Illegal

Underdog Sports and Boom Fantasy were separately sued.