June 2021 US Online Sports Betting Revenue

Exploring the Surge in US Online Sports Betting Revenue

Despite traditionally slower months for sports betting, the US has continued to witness robust online sports betting revenue figures, underscoring the sector’s resilience and growth. States like New Jersey, Pennsylvania, Michigan, and Indiana have reported significant revenue gains, showcasing the enduring appeal and viability of mobile wagering across the nation.

While the sports betting calendar may have experienced a lull, major events like the NBA Playoffs and MLB regular season have kept bettors engaged, contributing to the steady revenue streams for online sportsbooks. This post delves into the June 2021 revenue figures from some of the biggest online sports betting states in the US, providing insights into the dynamics shaping the industry.

New Jersey’s online sports betting revenue in June 2021 was $62,189,286, driven by a 9.1% hold percentage despite a decline in handle.

US Online Sports Betting Revenue Highlights

In June 2021, New Jersey, Pennsylvania, Michigan, and Indiana all posted impressive online sports betting revenue numbers. Despite a general drop in betting handle, these states saw their revenue figures climb, thanks in part to strong hold percentages by sportsbooks.

New Jersey Leads the Pack

New Jersey continued to dominate the online sports betting market, with more than $683 million wagered online in June. Although this represented a slight decrease from May, the state still achieved the second-highest monthly online revenue total in 2021, amounting to over $62 million. The Garden State is on track to surpass its 2020 online handle, potentially reaching beyond $9 billion for 2021, bolstered by the anticipated surge during the NFL and NCAA football seasons.

Pennsylvania recorded approximately $19.7 million in online sports betting revenue for June 2021 from a handle of $229.8 million, with an 8.59% hold.

Pennsylvania’s Steady Growth

Pennsylvania’s online sportsbooks also enjoyed a revenue increase despite a dip in total bets placed. The state’s mobile sports betting apps recorded nearly $380 million in bets for June, translating into $29 million in revenue. FanDuel Sportsbook emerged as a leading force, contributing significantly to the state’s betting revenue.

Michigan’s Market Share

Michigan’s online sports betting landscape saw $235 million in bets for June, marking a slight decrease from May but still contributing to a robust first half of 2021. Online sportsbooks in Michigan brought in nearly $17 million in revenue, with FanDuel, DraftKings, BetMGM, and Barstool Sportsbook leading the charge.

Indiana’s Consistent Performance

Indiana maintained its position as a significant player in the US sports betting market, with over $221 million wagered online in June. The state’s mobile betting handle for the first half of 2021 surpassed $1.47 billion, highlighting its status as a key sports wagering hub in the Midwest. FanDuel Sportsbook, followed closely by DraftKings Sportsbook and BetMGM, remained popular choices among Indiana bettors.

The Future of US Online Sports Betting

The sustained revenue growth across major states indicates a bright future for the US online sports betting industry. With the NFL and NCAA football seasons historically boosting betting activity, states are poised for even greater revenue figures in the coming months. The competitive landscape, with leading operators like FanDuel, DraftKings, and BetMGM vying for market share, underscores the dynamic and evolving nature of the US sports betting market.

As the industry continues to grow, regulatory developments and technological advancements will further shape the future of online sports betting in the US. Bettors can expect enhanced betting experiences, innovative wagering options, and increased accessibility, solidifying the sector’s position as a key component of the US entertainment industry.