ODDS.com Projects March Sports Betting Handle per State
States begin to release their March sports betting revenue numbers. ODDS.com projects March 2021 wagering handle and earnings for the states yet to report.
LONGBOAT KEY, Fla., April 14, 2021 (Newswire.com) - Sports betting across the US saw $3,996,076,889 wagered in February, only $378,923,111 less than January. That's more than projected for a short month with one football game. As of today, 5 states have reported betting data. Based on those, March is expected to be another record month.
March 2021 Sports Betting Handle
| State | Handle | Revenue | Tax Revenue |
|---|---|---|---|
| Delaware | $6.7 Million | $965,419 | $482,174 |
| Indiana | $317 Million | $26.4 Million | $2.5 Million |
| Iowa | $161.4 Million | $13.5 Million | $908,011 |
| W. Virginia | $42.8 Million | $3.9 Million | $330,603 |
| Gambet DC | $3.8 Million | $715,244 | $-- |
Delaware experienced a decline from February. Revenue and taxes did increase. That's good for a state not offering an online product. Casino's driven by foot traffic will continue to be impacted by Covid.
Indiana used basketball to bounce back from a weak February reporting $317m in bets placed. The bulk of that number comes from $279m in online wagers, compared to $37.5m from retail locations.
The partnership between Ameristar East Chicago and DraftKings/theScore accounted for the majority of the handle at $120,414,215. $114,224,535 was from online betting while $6,189,680 was from walk-up sportsbooks.
Blue Chip Casino/FanDuel came in second with $92,409,340 in handle. $91,260,954 came online and $1,148,386 was through the casino.
Third, Belterra/BetMGM took $40,237,180 in bets, $39,432,282 online and $804,898 at the retail location.
Iowa surpassed January and February performance, reporting handle at $161.4m. March was a record-breaking month for the state, with highs in both revenue at $13.5m and taxes at $908,011.
11 Online Sportsbook operators operate in the state and aggressively marketed the tournament knowing that college basketball is popular in Iowa. $139.4 million in online bets were placed. $22 million was bet at retail locations.
Washington DC's GambetDC did not experience growth growth in March. Handle came in at $3.8 million, $200k shy of February, yet revenue did increase by $115k. ODDS.com attributes the lack of growth to less marketing, which is typical of sportsbooks under their state's lottery.
William Hill, a global brand and the only other licensed bookmaker in DC, is expected to report soon. Growth from WillHill would again highlight how lottery-run bookmaking can fall short.
Can we expect Record Breaking March Numbers for The Rest of The States?
ODDS.com has made projections for states yet to report:
| State | Handle | Prev. High | Revenue | Prev. High |
|---|---|---|---|---|
| Arkansas | $5.5m | $7.2m | $1.39m | $1.4m |
| Colorado | $337.7m | $326.9m | $23m | $23.1m |
| Illinois | $590.1m | $581.5m | $48m | $47.9m |
| Michigan | $419.5m | $325.6m | $26.8m | $17.4m |
| Mississippi | $68m | $67.7m | $13.7m | $12.3m |
| Nevada | $660m | $659.9m | $53m | $61.8m |
| New Hampshire | $62.7m | $59.8m | $5.2m | $4.8m |
| New Jersey | $990m | $996.3m | $60.1m | $82.6m |
| Oregon | $35.8m | $34.9m | $4m | $4.1m |
| Pennsylvania | $620.6m | $615.3m | $55.4m | $49.3m |
| Rhode Island | $40.26m | $39,8m | $5.5m | $6.3m |
| Tennessee | $225.7m | $211m | $23.8m | $21.8m |
| Virginia | $325m | $265.8m | $15.5m | $12.2m |
For more information contact Bill Colleoni CEO of Odds.com at (210) 863-6929 or bill@odds.com.
Source: Odds.com
