How The US Sports Betting Industry Expanded In 2021
- Rhode Island sportsbooks took in over $12 million in revenue from July to October.
- Tennessee residents wagered over $375.3 million on sports in October.
- Illinois sportsbooks handled over $840.4 million in October, a 32.6% increase from the previous highest handle.
LAS VEGAS - With so much happening in over the last year, it's easy to lose track of what all has been happening with the sports betting industry.
Pretty much every state with legal sportsbooks generated consistently impressive revenue over 2021. There are a few stand-out states however, such as Rhode Island.
From July to October, Rhode Island sportsbooks took in over $12 million in revenue, - an impressive pull considering there's only three sportsbooks in the entire state, one online and two retail.
These three bookmakers handled more than $145.5 million in wagers within the same time period.
In Tennessee, residents wagered more on sports in October than ever before resulting in a $375.3 million handle.
Although that took a slight 2.6% dip in November when the handle fell to $365.7 million, it's still substantially higher than every month in Tennessee's regulated sports betting history.
Illinois sportsbooks handled over $840.4 million in October sports wagers, a 32.6% increase from the previous highest handle of $633.6 million in March.
This is reflective of the industry's overall growth as more citizens become interested in trying their hand at sports betting.
States That Launched Sports Betting In 2021
Louisiana launched their retail sports betting market in October, and although online wagering offerings aren't available yet, they're planned for an early 2022 release date.
Maryland's regulated sports betting launch was cutting it close, formally launching retail wagering on December 9, just a few weeks before the year ended.
Online wagering options are expected to launch in the first quarter of 2022.
South Dakota launched their retail-only sports betting market on September 9 via several casinos in Deadwood.
There are currently no plans for any online betting options, so residents interested in betting will need to do so in person.
Virginia did practically the opposite of South Dakota, launching an online-exclusive sports betting market on January 21.
While retail options aren't out of the question, there's no updates on the possibility as of now.
Washington tribal casinos began accepting sports wagers from WA residents on September 9 with online betting apps launching just before 2021 ended.
Wyoming launched a digital-only sports betting market on September 1 and is the only state so far that allows for cryptocurrency to be used for placing bets.
There are no plans for any kind of retail sports betting market in the future.