US Sports Betting Sets Record in November
The November sports betting handle in the United States fell just short of $3.5 billion, coming in at $3.46 billion.
The final numbers were just reported on Wednesday after the Illinois Gaming Board released the final figures for the Land of Lincoln.
The US went over the $3 billion mark for the first time in October, and it appears that the industry is on a path to $4 billion monthly in 2021. The biggest sports betting markets in the US continue to grow and post massive numbers, and a handful of new states will begin accepting wagers in the next 12 months.
New Jersey Sports betting was the clear leader in November, posting a betting handle total of $931.6 million. That number was once again topped in December as New Jersey nearly went over $1 billion in betting handle.
Nevada and Pennsylvania remain second and third on the list, but Illinois is looking like a state that can eventually shake things up. Illinois posted a sports betting handle of more than $450 million in November, less than 10 months after launching the industry in March.
Football remains the most popular sport to bet on in the United States, and the return of the NFL boosted numbers over the past few months. College football and the NBA have also been popular betting markets throughout the US.
Another growing trend in the United States has been the use of mobile or online sportsbook apps. In most states, online betting accounts for more than 90 percent of all of the wagers placed.
Michigan, Virginia Kick Off 2021 With Launch
After a record-setting year in 2020, the 2021 calendar year is already off to a great start as two new states have launched online sports betting. Michigan and Virginia appeared to be in a race to see what state could go live first, and it was Virginia that won by a day.
Lawmakers in Virginia were able to legalize sports betting in 2020, and voters in the state approved the building of casinos in five cities throughout the state. At this time, online sports betting is the only option for Virginia voters, but that won’t be the case by the end of 2021.
FanDuel and DraftKings were the first two operators to launch in Virginia, but they have since been joined by BetMGM and BetRivers. Even though there are just four online options, these are four of the biggest names in the industry.
Michigan launched sports betting in March, but the state has really struggled to see much growth. Online sports betting has been legal since 2019, but the Michigan Gaming Control Board did not allow for launch until a few days ago.
There are just three commercial casinos in Michigan, but the state has several tribal properties. There are already 10 online sports betting apps available, and that number will continue to climb in 2021.
Both of these states could turn into huge sports betting markets, helping the US industry shatter new records this year.
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