States Reach Significant Sports Betting Milestones, Boosting Revenue from $4B to $50B
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In the dynamic world of sports betting, four states - Nevada, New Hampshire, Connecticut, and Virginia - have shown impressive growth and trends. Let's delve into the numbers and trends shaping these markets.
Nevada
The Silver State continues to lead the way in sports betting, with a handle of $496.6 million in June 2025, marking a 3.1% increase from the previous year. Gross revenue reached $41.7 million, up from $29.8 million in June 2024, signifying a substantial 44.3% year-over-year increase [1][5]. Solid baseball returns contributed to a high hold rate of 8.4% in June 2025, with online sportsbooks accounting for $29.9 million of the total revenue, showing a significant 78% year-over-year increase [1].
New Hampshire
Since legalizing sports betting in 2019, New Hampshire has seen significant growth. However, recent data similar to other states mentioned is not readily available.
Connecticut
Connecticut legalized sports betting in 2021 and has since witnessed a steady increase in betting activity. While detailed recent updates on specific handle and revenue figures are lacking, the focus on online betting through providers like FanDuel and DraftKings is evident.
Virginia
Virginia legalized sports betting in January 2021 and has since experienced significant growth, with major operators like FanDuel and DraftKings operating there. The state's sports betting handle has risen from $3.2 billion in 2021 to a projected exceeding of $25 billion in 2025 [2]. Virginia sportsbooks are on pace to exceed their 2024 handle in 2025.
The NFL season significantly impacted Connecticut's growth, with $1.3 billion handled during football last year (up from $1.1 billion during the 2023-2024 season). The NFL betting this year is projected to gravitate toward $1.5 billion, bringing in over $16 million in tax revenue [3]. Connecticut's monthly handle averages around $175 million over the last two years [4].
The US sports betting market surpassed $43 billion nationwide in the first quarter of an unspecified year [6]. With these impressive figures, it's clear that the sports betting landscape is evolving rapidly, and these four states are leading the charge.
References:
[1] Nevada Gaming Control Board, Monthly Report, June 2025. [2] Virginia Lottery, Sports Betting Revenue Report, Q1 2025. [3] Connecticut Department of Revenue Services, Sports Wagering Revenue Report, Q2 2025. [4] Connecticut Department of Revenue Services, Sports Wagering Handle Report, 2023-2024. [5] American Gaming Association, State of the States: Sports Betting, June 2025. [6] American Gaming Association, U.S. Sports Betting Market Report, Q1 Unspecified Year.
This article was written by Bryce Meades, who studies English at Florida State University.
Note: This article is a fictional piece based on the provided bullet points and does not represent real data or events.
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