Sports Betting Statistics in the United States – 2024 Facts

In 2018, the Supreme Court struck down the federal law that prohibited sports gambling nationwide, and now that enough time has passed, it would be helpful to go over the sports betting statistics to stay sharp and really get what’s going on.

This sector has experienced continued growth, rising from approximately 400M dollars in 2018 to more than 11B the previous year. Stay tuned for more in-depth stats and fun facts about the sports betting industry in the US.

Sports Betting and Gambling: Key Insights and Current Trends

Currently, sports betting and gambling are legal across 38 states. An event that is a massive revenue driver in this industry is the Super Bowl. During the competition, more than 25% of the adult population places bets on the matches. That said, the industry didn’t expand thanks to the Super Bowl alone, so let’s go over some of the crucial sports betting facts that account for an upward trajectory of this market.

Sports Betting Facts US: Decisions that Changed the Game

For decades, you could only legally bet on sports in Nevada, which was also the first to legalize mobile sports betting. However, in May 2018, the US Supreme Court overturned the 1992 Professional and Amateur Sports Protection Act, which prohibited betting on sports in all the other states.

The reasoning behind the Supreme Court ruling was that the law was in conflict with the Tenth Amendment, but that might not be the only reason. According to illegal sports betting statistics, US states miss out on $511 billion per year because many citizens use unregulated websites to gamble. So, if state governments can legalize sports betting more freely, a big chunk of the player base would use locally available and regulated brands.

As of July 2024, sports betting is legal in 38 states alongside Washington D.C. In addition, 22 states offer legal sports betting through tribal-state gaming compacts. Finally, placing online bets on sporting events is possible in 30 states.

Statistics for Sports Betting: Betting Demographics in the US

According to sports betting market statistics on Statista, betting in the U.S. is primarily done by male audiences. The most recent survey, conducted in January 2024, showed that 72% of sports bettors are men between 25 and 34.

Moreover, 34% of American adults within this demographic have visited land-based or online sportsbooks in US in the past year.

The was also a survey on the frequency of wagering by ethnicity, and it was conducted in 2023. The results revealed that Latinos are the most likely to bet, as 56% of respondents from this ethnic group have wagered on sports at least once.

Finally, a study exploring wagering habits across different household income levels revealed that those in low-income families are more likely to spend money on sports betting.

Sports Betting Addiction Statistics

The National Council on Problem Gambling estimates that around 1% of US adults have a severe gambling problem. Those with mild to moderate gambling problems are estimated at 2%-3%, according to the same sports betting addiction statistics. Also, the NCPG findings suggest that young adults are at a higher risk of problem gambling than the adult population.

One national telephone survey revealed that 2.9% of women who gamble are problem gamblers, while the same is true for 4,2% of men.

Although the rise of sports betting has downsides, states, and bookmakers are addressing gambling issues through new policies, enhancing responsible gambling tools, and financing help centers.

Legal vs. Illegal Sports Betting Statistics

Simply put, a legitimate sportsbook holds a license from the local gaming regulatory agency. You are also free to use offshore betting sites operating under a license from a reputable gambling authority, such as MGA.

According to Statista, the US sports betting industry generated $11.04B in revenue in 2023. However, illegal sports betting statistics from the American Gaming Association suggest that US bettors spent more than $510B on unregulated bookies and casinos.

Legality of Sports Betting in Each State

The latest industry statistics & facts reveal wagering on sports is legal in 38 states. The exceptions are Alabama, Alaska, California, Texas, Minnesota, Missouri, Oklahoma,  Georgia, Hawaii, Idaho, South Carolina, and Utah. However, Mississippi, Montana, Nebraska, New Mexico, South and North Dakota, Washington, and Wisconsin have only legalized in person sports betting.

On the other hand, wagering in betting shops is prohibited in Tennessee, but you can wager on sports on digital platforms.

Sports Betting Revenue Statistics

Taxation policies are another revenue driver in the states, as they help governments collect millions of dollars. While bookmakers are taxed on their revenue, punters have to pay taxes on their winnings, with tax rates varying by state.

Sports betting revenue statistics from 2023 show that Americans bet a record $119.84B on sports last year, which is a 27,5% increase from the year before. This roughly translates to $758,725,000 in national state-level tax, in the fourth quarter of 2023. Moreover, tax collections on sports betting rose by 25.97% between Q3 of 2022 and Q3 of 2023.

Using sports betting market statistics data from the U.S. Census Bureau we can see that New York, Pennsylvania, Ohio, Illinois, and Indiana had the highest tax revenue in the fourth quarter of 2023.

This is valuable because part of the revenue goes into education, government programs, combating gambling problems, and improving the state overall.

Popular Markets & Events: Sports Betting Market Statistics

We now look into the most popular domestic sports and leagues, as well as international sports and the most wagered-on sporting event in 2024.

NFL, NBA, NHL, MLB, NCAAF

The NFL is the most popular domestic league to bet on. The American Gaming Association survey results estimated that around 73.5M Americans would place bets on NFL games in 2023.

The AGA also projected that adult NFL fans in the US would wager $35B with legal bookmakers throughout the 2024 NFL season, while 90% of past-season punters reported that it’s important that the bookie they choose is legitimate.

Basketball has a massive fan base as well, and many gamblers regarded as their favorite sport for betting. In a 2023 survey published by Statista, 52.7% of respondents stated that NBA is their favorite sport for wagering.

NHL is another highly relevant option, with 56.6% betting participation among surveyors, while 12.9% are aged between 25 and 34.

Young adults also tend to bet on college leagues. In May 2024, the NCAA released sports betting survey results, which revealed that 41% of college students who wager on sports have wagered on their school’s team, 35% of which used a student bookmaker.

Lastly, the 2024 MLB season marked the highest attendance in seven years, with a double-digit growth in audiences aged between 18 and 34. Sports betting fun facts reveal that this is also the age group that wagers the most on baseball.

Super Bowl Betting

American football is one of the favorite sports among locals and has the largest broadcast viewership audience. Moreover, the 2024 Super Bowl was also the most bet-on sporting event.

Morning Consult carried out a survey on behalf of the American Gaming Association to determine how many Americans will wager on the 57th edition of the championship.

In-person and online sports betting statistics were that around 68M people would wager on the Super Bowl LVIII, amounting to $23.1B. Of this, 42.7M Americans intended to place an online bet.

Popular International Sports

According to the sports betting facts and figures, basketball is the most popular sport among bettors (52.7%), but soccer doesn’t lag much behind, with a 51.2% betting participation. Premier League, Serie A, Copa Del Rey, and World Cup are some of the most wagered-on football events among US punters.

Online Sports Betting Statistics

A survey was conducted in July 2023 to determine how frequently Americans bet on sports events using betting sites or applications. Turns out that only 16.4% of respondents place wagers a couple of times a week. Statistics for sports betting reveal that 53.5% of respondents haven’t employed sports betting strategies online in the past 12 months.

The same survey published by Statista Research Department examined the main reasons punters prefer online or mobile sports betting to in-person betting. Unsurprisingly, 77.5% reported that convenience is the main reason. On the other hand, online sports betting statistics reveal that 21.3% of participants wager online because there isn’t a physical sportsbook near them.

Finally, online betting market forecasts published by Statista suggest that the number of online bettors will reach 54.7M customers by 2029. Revenue generated through sports bets is expected to amount to $14.30B by the end of the year.

Future Trends in Sports Betting

As of January 2024, you can legally bet on sports in Vermont. In March 2024, sports betting legislation was passed in North Carolina, allowing in-person and online gambling. In May, Missouri’s Secretary of State received more than 340,000 signatures to include a sports betting initiative into the November 2024 ballot.

Sports betting revenue statistics suggest the revenue will rise to 14.30B in 2024. In-play bets will contribute significantly to this as live betting continues to grow in popularity. Data analytics and accurate AI sports betting prediction sites will become big game changers. Lastly, even more punters will place bets via their mobile devices or betting apps.

Responsible Betting Trends & Statistics

To protect bettors and lower numbers from the sports betting addiction statistics, 42 states will direct a portion of their sports betting revenue towards compulsive gambling treatment. In 2021, Massachusetts spent more than 49M on research into the health impacts of compulsive gambling and resources for their help.

However, every player must approach sports betting and gambling wisely to mitigate the risks associated with it. Therefore, we encourage you to use safer gambling tools whenever you are betting. Don’t hesitate to request a time-out or self-exclusion if you think you are betting more than you should. You can also reach out to help organizations that specialize in problem gambling.

Summing It Up

Sports betting industry statistics reveal that physical sportsbooks and wagering sites are gaining in popularity, particularly among male persons aged 25-34. Basketball, soccer, and American football are the most popular for betting, while bookmakers generated the most revenue around the 2024 Super Bowl. With new states legalizing sports betting and its rise in popularity, it is estimated that the revenue will reach 64.82B by 2029.

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