The latest state-wide sports betting statistics, released in early February, indicate a trend heading in one direction.
Betting with top online sportsbooks is on the rise. It’s no longer niche. It’s no longer underground. It’s a mainstream phenomenon.
States Of Play
There are currently 38 states that allow sports betting. The most recent additions are Ohio, Massachusetts, Nebraska, Kentucky, and Maine.
In North Carolina, where regulated sports betting has been legal on eight different online sports betting platforms since March 2024, revenues doubled from December to January.
Figures from the North Carolina State Lottery Commission show an increase from $35.7 million in December, to $74.5 million in January. The increase boosted state tax revenues by 108.7%, from $6.4 million to $13.4 million.
In Maine, the state’s two sportsbooks finished 2024 on a high, generating a combined handle of more than $50 million, every month, for the last quarter of the year; the highest numbers recorded since online sports betting was legalized in November 2023.
In Illinois, a revenue dip in December didn’t alter the fact that the state’s six online operators generated $14 billion in sports betting wagers in 2024.
The revenue equates to $263.8 million in state taxes; an increase of 75%, compared to the $150.3 million collected in 2023. Once again, DraftKings is the biggest player in town, accounting for $5 billion of the total 2024 handle.
And remember, all these numbers are from the months before the Super Bowl when millions across the country put their money where their mouth is (around $1.39 billion) with NFL betting sites. Things are certainly not slowing down.
Trust The Numbers
Data from geolocation compliance company Geocomply provides some timely insight into the state of sports betting in the U.S.
The business uses geolocation technology to prevent fraud and ensure compliance. It monitors exactly where gaming accounts are opened. It is critical for the regulated sports betting industry in the U.S.
More than 724,400 new online wagering accounts were created during Super Bowl weekend; a 14% increase in active player accounts.
Active sports betting accounts grew by 20.2% during the 2024/2025 NFL season compared to the previous year.
Anna Sainsbury, CEO and Co-Founder of GeoComply said: “More fans are choosing legal sportsbooks, driven by stronger consumer protections and enhanced user experiences. This means even greater tax revenues to support local communities and promote responsible growth while reducing reliance on illegal sportsbooks,”
2024 also saw online sports betting crown a new champion. New York is now the largest betting market in the country, surpassing its neighbor New Jersey. More than $22.5 billion flowed through the New York betting economy in 2024, an increase of 185% from 2023.
Online gambling is still booming. Will it continue to boom or bust?
Reasons To Boom
More States Cashing in: As of February 2025, there are only 38 states where online sports betting is legal. If populated states like Texas and California get on board the betting bus, revenues will soar further.
Tech: In-game action, AI betting, seamless social media integration. Tech will keep business bubbling.
Culture: Gambling is still associated with organized crime in the U.S. Familiarity will normalize.
International Intervention: Competition will invigorate business.
Reasons To Bust
Regulation: The anti-gambling movement is growing almost as fast as its nemesis. High taxes, strict regulation, and advertising bans will hurt.
Market Saturation: When growth slows, businesses struggle.
Economics: If the economy tanks, there will be less disposable income to wager.
Culture: If problem gambling gets a grip, the tide of public opinion will turn.