Sports Revenue Tracker January 2022

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Jacob Wayne, an analyst at a sports data company LineUps.comBrings the latest monthly summary of sports betting revenues and expert insights from across the United States.

January 2022 was another monumental growth month for the sports betting industry, especially as New York launched an online market and quickly became the most profitable state. At the time of this writing, 14 of the 20 states that reported January figures set records for sports betting handles.

Legal sports betting is expected to grow to a $ 5.8 billion industry by the end of next year, according to a report by Eilers & Krejcik Gaming. Goldman Sachs Group Inc. recently reported that the online market could reach $ 39 billion in annual revenue by 2033. This is up from the current less than $ 1 billion.

Recent news in the sports betting industry surrounds the huge promotional costs and practices that sportsbooks are currently doing. Sports betting operators can expect higher hold rates and higher revenues as they reduce marketing costs in the coming months.

This article describes the latest results from the most successful individual states reporting sports betting numbers. In addition, we will analyze trends in each state and what that means for future sports betting revenue. For more information on each of the following states and the entire sports betting industry, please visit our website

New York

Handle: $ 1,686,263,898 Income: $ 123,130,126 Hold rate: 7.3% Tax: $ 63,209,984

Although it only launched the online sports betting market on January 8, New York broke the record for sports betting handles in a month. The previous record was New Jersey’s $ 1.3 billion bet in October, and New York broke that record in just 23 days. New York is one of the countries with the highest mobile sports betting tax rate of 51% in the country, and the state has generated more tax revenue than most states throughout the history of mobile sports betting. The New Yorker made a bet of $ 572.5 million in the week of January 23 alone. That’s more than what all but four states did in January.

Last month, there were six operators living in the state, including Caesars, which surprisingly led the market with a total of $ 615 million in handles. Caesars generated $ 55.9 million in revenue based on a 9.1% stake. Fan Duel was the next best sportsbook for handles, with total stakes just over $ 500 million and a 4.7% hold rate of $ 23.6 million. However, DraftKings outperformed FanDuel with $ 27.1 million in revenue, with a 7.4% hold of $ 367.6 million in total sports betting. These three operators used a total of 82.8% of handles in the last week of the month.

New jersey

Handle: $ 1,348,860,083 Income: $ 60,195,902 Hold rate: 4.5% Tax: $ 8,019,106

All sports betting analysts were concerned that New Jersey was struggling to start mobile sports betting in New York, but the state was not significantly affected. New Jersey broke the mobile sports betting record, with the January handle surpassing the previous October 2021 record of $ 1.33 billion by 3.5%. January handles increased 9.7% from December 2021 and increased 40.7% year-on-year. According to GeoComply, in the first 10 days of the market, only 9.3% of New York bettors had previously bet on New Jersey sportsbooks. GeoComply also reported that the number of transactions increased after the launch in New York.

Basketball is New Jersey’s most popular betting sport with a total stake of $ 553.7 million. Still, the operator’s hold on basketball bets is only 0.6% and revenue is only $ 3.5 million. Soccer is the second most popular sport, with stakes of $ 340.3 million and a 3.5% hold earning $ 11.8 million. Parley is the most profitable type of bet, with a 16% hold rate totaling $ 268 million, leading to a revenue of $ 42.9 million. The overall ownership of New Jersey was only 4.5%, resulting in a revenue of $ 60.2 million. It’s still a slight increase from December, but it’s far from the record $ 114.7 million revenue in November 2021.


Handle: $ 1,109,329,327 Income: $ 49,997,000 Hold rate: 4.5% Tax: $ 3,374,798

Nevada attended the party in January, a record-breaking event. It joined New Jersey and New York as the only three states that reported over $ 1 billion in sports betting and reported $ 1.109 billion in sports betting. January was the fourth straight month, when Nevada reported more than $ 1 billion in sports betting, with handles up 9.3% from December and 71.6% year-on-year. However, Nevada has become the third largest sports betting market in its long history for the first time in the legal sports betting market. Over 70% of Nevada’s January handles are online bets, with total bets exceeding $ 786.8 million. However, the sportsbook held only 1.93% of its online handle.

Nevada, like any other state, increased its volume, but its income declined. Nevada’s sportsbook held only 4.5% of the steering wheel in January, with sales of $ 50 million, down 4.6% year-on-year. Its retention rate is still rising from the 1.6% rate in December, the lowest rate in the state of the month unaffected by COVID-19. The state’s most prominent handle comes from basketball, with stakes of just over $ 504 million, but the sport’s hold rate was only 2.24% and revenue was $ 11.3 million. Soccer was the second most popular, with a bet of $ 454 million. Sportsbooks still pay a little less than $ 3.4 million in taxes, bringing the state’s total to $ 86 million.


Handle: $ 793,722,787 Income: $ 53,403,655 Hold rate: 6.7% Tax: $ 11,581,176

For the fourth straight month in January, Pennsylvania reported a total of over $ 750 million in sports betting, and the state now reports over $ 12 billion in sports betting. January handles increased by about 5.7% from December, up about 28.8% year-on-year. Revenue fell below the state’s record high of $ 84.9 million in November 2021, but it was still the second most profitable sports betting month in the state’s history. Sports betting operators paid $ 6.8 million to $ 11.6 million in January at a high tax rate of 36%. In its record November 2021, Sportsbook paid $ 22.9 million in taxes. Pennsylvania is currently raising more than $ 230 million from sports betting taxes.

The high 93% of Pennsylvania’s sports betting took place online, with some nationally renowned operators having great success in the state. Fan Duel, working with licensee Valley Forge, reported a total of $ 249.7 million. This was 31.4% of the total for the month. With a 5.5% hold on that handle, FanDuel reported monthly revenues of just under $ 14 million. Other operators haven’t reached the eight-digit threshold, and DraftKings and Licensee’s Meadows were the only other sportsbooks totaling over $ 200 million. DraftKings raised $ 206.4 million in sports betting and generated $ 8.1 million in revenue with a 3.9% hold rate.


Handle: $ 532,681,710 Income: $ 36,608,569 Hold rate: 6.9% Tax: $ 1,539,045

It’s been a year since online sports betting started in Michigan on January 22, 2021, and the results were even better than expected. Like many other states, Michigan’s January sports betting handle was a state record. During the first 38 days of sports betting in the state (the last day of January 2021 and the entire month of February), the Michigan Sportsbook raised $ 417 million in online bets. January 2022 represents a 27.5% increase from that number. Michigan’s handle has increased by about 3.5% since December, but its growth has been staggering over the past few months since the state broke through the first $ 400 million month in October 2021.

The Michigan Sportsbook generated $ 36.6 million in revenue in January 2022 with a 6.9% stake. This is the second most profitable month in the state’s history. In November 2021, Michigan generated $ 58.4 million in sports betting revenue with a 11.7% hold rate. This is the best since the online market was launched. FanDuel was the state’s most successful sportsbook in January, with a $ 132.7 million bet and a slight border on DraftKings, which had a $ 132 million handle. BetMGM came in third with $ 110.9 million, with Barstool ($ 49.9 million) and Caesars ($ 35.5 million) closing the top five operators on the handle. FanDuel also led with revenue of $ 8.7 million (6.5% hold rate), while other operators did not exceed $ 6 million in revenue. Revenue Tracker January 2022

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