Revenue from U.S. sports betting hit a record $13.71 billion in 2024, the American Gaming Association said Wednesday in its annual report, up 25.4% over the previous year.
Legal sportsbooks took in $147.91 billion in bets, 95% of which were wagered online. The handle marked a 23.6% increase from 2023.
“In 2024, Americans embraced the diverse legal gaming options available to them — whether in casinos, at sportsbooks, or online — leading to another record-setting year for our industry,” AGA president and CEO Bill Miller said in a release. “As we build on this success, the AGA remains committed to fostering additional growth that benefits consumers, operators, and communities alike.”
Additionally, Q4 2024 was the industry’s most lucrative quarter on record at $3.66 billion — a 7.3% increase from the previous record set in Q4 2023. This was despite a nearly unprecedented showing from NFL betting favorites, who went 56-17 straight up in December. The 76.7% win rate represented the second-highest total of any month in a half-century.
This comes as the industry continues to expand, with sports betting now legally available in 38 states plus Washington, D.C. North Carolina and Vermont both were in their first year of operation, while Missouri plans to launch this summer after green-lighting sports betting last November.
Numerous other states are expected to explore expansion in 2025, though legal obstacles remain. While proponents of sports betting point to tax revenue growth, critics commonly question the prevalence of problem gambling and illegitimate accounts. Nevertheless, as the industry continues to evolve rapidly, a majority of experts expect revenue to continue to rise over the next 12 months.
New York, the country’s largest sports betting market, generated $2.08 billion in revenue. Illinois came in second at $1.2 billion, surpassing New Jersey ($1.1 billion) thanks to 21.1% growth. Five other states took in at least $600 million.
The AGA also said that iGaming revenue from the seven active states, not including Nevada's poker-only market, rose 28.7% to $8.41 billion. Pennsylvania remained the top performer with $2.71 billion in annual revenue, followed by Michigan and New Jersey, which both set new records surpassing $2 billion.
Growth for land-based gaming — including slots, table games and retail sports betting — was less significant, with revenue totaling $50.32 billion. This was up 0.6% from 2023.
Nevada retained its spot as the top commercial gaming jurisdiction with $15.6 billion in revenue, despite a 4.4% decline on the Las Vegas Strip. Among the 36 operational commercial gaming jurisdictions, 28 saw increased revenue from land-based casino games, sports betting and iGaming.
Conversely, Montana experienced a 15.6% dip, while New Mexico and Mississippi were down 3.5% and 2%, respectively. Also down were Missouri (1.7%), Iowa (1.7%), New Hampshire (1.5%), Ohio (0.9%) and Florida (0.5%).
Doug Bonjour
