As sports betting continues to grow in popularity across the United States, some states are reaping the benefits more than others. According to recent data, New Jersey and Nevada are leading the pack when it comes to revenue generated from sports betting.
In 2020, New Jersey reported a staggering $6 billion in sports betting handle, surpassing Nevada to become the top state for sports betting revenue. The Garden State’s success can be attributed to its early embrace of online sports betting, which has proven to be a lucrative venture for the state. With a population of nearly 9 million and a strong sports culture, New Jersey has become a hub for sports betting enthusiasts.
Nevada, long considered the gambling mecca of the United States, still holds its own when it comes to sports betting revenue. In 2020, the Silver State reported a sports betting handle of over $4 billion, making it the second highest revenue earner in the country. Despite facing stiff competition from other states with legalized sports betting, Nevada remains a popular destination for bettors seeking a traditional casino experience.
On the other hand, when it comes to revenue generated from lotteries, the landscape looks quite different. According to the North American Association of State and Provincial Lotteries, states like New York, Massachusetts, and California top the list when it comes to lottery revenue. These states have large populations and invest heavily in promoting their lottery games, which contribute to their high revenue numbers.
In 2020, New York reported over $10 billion in lottery sales, making it the top state for lottery revenue. The Empire State’s diverse population and wide array of lottery games have made it a lucrative market for lottery operators. Massachusetts and California followed closely behind, each reporting lottery sales in the billions of dollars.
Overall, the legalization of sports betting and lotteries has proven to be a significant source of revenue for states across the country. As more states continue to embrace these forms of gambling, it is likely that we will see shifts in revenue generation and competition among states vying for a piece of the lucrative market.