US Sports Betting market achievements and trend

There has been a significant growth and financial impact of sports betting in the United States. The total state tax revenue, from sports betting, has surpassed 5 billion dollars, achieved in less than six years since its legalization beyond Nevada's borders in 2018. In 2023, over 40% of the total tax revenue, amounting to 2.15 billion dollars, was generated from sports betting, indicating a prosperous year for sportsbook operators.

The top five highest grossing states in terms of tax revenue from sports betting are New York, New Jersey, Illinois, Pennsylvania, and Tennessee. Analysts predict that tax revenue, from sports betting, will continue to soar, reaching an estimated 11 billion dollars by the end of 2025. This growth is attributed to the increasing popularity of mobile betting platforms and the expansion of legalized sports betting across more states.

The article emphasizes the dominance of online platforms in the sports betting landscape and the role of technological advancements and regulatory changes in driving industry growth.