Sports betting is among the growing industries in many parts of the world, and the US is definitely no exception. Home to some of the biggest sports stars and leagues worldwide, millions of people in the country wager on sports. The stats have been on the rise lately, especially after the legal changes in the country.
Speaking of sports betting in the US, www.cyprus-property.com shows that the revenue from this industry will reach $14.30B by the end of 2024. This is $3B+ more than the 2023 result, which was $11.02B. In 2023, the US was responsible for more than 15% of the entire global sports betting market.
The forecasts for the next couple of years reveal that the numbers are increasing. In 2025, experts predict that revenue will be close to $17.23B, whereas in 2026, it will reach $19.63B. 2027 also shows an increase to $21.48B, followed by $22.84B by 2028 and $23.80B by 2029.
“There are a lot of reasons why sports betting in the USA is growing as fast as it is. Besides the fact that more people are interested in it, the legislative changes also have an effect. Thanks to them, people can now legally use loads of different sports betting sites and wager from the comfort of their homes”, said Kristiyan from NB.
Considering the USA is the world’s largest economy, it’s no surprise that the sports betting industry is also on another level. Many people are probably unaware of many interesting stats, so let’s learn more about them.
The Legal Side of US Sports Betting
Most people worldwide know that the USA has very strict laws in many areas, and those related to gambling/sports betting also fall into this category. Nevertheless, things changed after the famous Murphy v. National Collegiate Athletic Assn case.
- The Supreme Court of the USA struck down the federal law dated from 1992, finally allowing sports betting in the country. After that, it was up to each state to decide whether to allow sports betting or not.
- Considering this took place in 2018, it’s no surprise that there have been many changes in the last six years. As of late 2024, sports betting is legal in 38 states + DC, but it is still unavailable in some states, such as California, Texas, and Hawaii.
- The gambling laws in the US differ for mobile and retail sports betting. Users wishing to wager on their mobile devices can do so in 30 states and DC, while retail sports betting is legal in 36 states and DC.
A lot of states have legalized sports betting in the last six years, so we expect the rest to do the same. All of the world’s biggest sports betting companies want to operate in the US, and they are willing to pay taxes to do that.
US Sports Betting – Which Sports Stand Out?
After analyzing all of the big sports betting websites and platforms, it became clear that US bettors punt on many different sports. Each popular sport has its share of loyal fans, but some options are way more popular.
- The 2023 stats reveal that basketball is dominating because close to 52.7% of all people who wagered chose this option.
- Soccer is the next alternative, with more than 51.2%. We expect the stats here to increase by the end of 2024 because Messi is now a part of the MLS.
- American football is the next sport on the list with 45.8%, followed by baseball with 22.2% and tennis with 21.1%.
- Interestingly, horse racing takes the next spot with 20.2%, and golf comes next with 17.2%. The last 3 sports on the list are motorsports/racing with 12.3%, hockey with 10.5%, and MMA with 8.2%.
Strangely, there is a difference in the sports when it comes down to the revenue they’ve generated. Football leads in this department (primarily because of the Super Bowl), followed by soccer, basketball, tennis, and eSports.
How Much Money Do Bookies Make in the US Per Person?
There are many different reasons why some of the world’s biggest companies are interested in the US market. One of them is the fact that this is among the wealthiest countries in the world, meaning that potential customers spend a lot more money than in other parts of the world.
- Although calculating this is not that easy, we have very interesting data regarding the amount of money bookies make per person. According to the stats for 2024, the average revenue per user is $384.49, which is slightly more than the year before ($353.90).
- If we check the statistics for the last couple of years, we can see that people spend more money every year. In 2018, the average revenue per user (ARPU) was just $171.60. Following the legislative changes, it jumped to $229 in 2019 and $271.10 in 2021. As for 2022, the stats reveal that it was $326.
- Based on the data we have and what experts predict, the average ARPU in 2025 is close to $409.50. The number increases to $422 by 2026, $436.10 by 2027, and $439.30 by 2028.
If these stats become a reality, the growth pace will be slower than before. This is not surprising because, as mentioned, sports betting is legal in most states right now. In other words, if the remaining states do not decide to open their doors to sports betting, there won’t be that many new clients.
What Did Americans Think About Sports Betting
A lot has happened since the Supreme Court’s ruling in 2018, and as we’ve seen, a lot more people are betting now than before. Considering the growing popularity of this industry, it’s no surprise that there have been a lot of surveys whose goal was to see what people think about this industry.
- One of them was particularly interesting because it revealed exciting answers. Dated from late 2021, around 25% of people who took part in it say that sports betting can be as addictive as drugs, tobacco, or alcohol. That’s very interesting because, according to the NCPG, in 2024, close to 2.5M adults in the US met the criteria related to having a severe gambling problem. This is probably one of the reasons why a lot of institutions promote responsible gambling in the country.
- 23% of the people in the survey agree that sports betting is fun. Another 20% also say that sports betting makes watching sports events more thrilling. We can definitely agree with the latter because it’s always more interesting to watch something if you have wagered money on it.
- What’s very interesting is that 18% of people replied that sports betting is too complicated for them. Considering the survey is from 2021, this percentage is likely a lot lower today because everything is much easier to understand. Moreover, there are many different guides and step-by-step instructions that make everything easier to understand.
- Lastly, 14% of Americans back then answered that sports betting should be illegal. Needless to say, this hobby was not as popular as it is now, so the stats today will be different.
The Big Sports Betting Companies in the US
The American sports betting market has differences if you compare it to the one in Europe, for example. However, since people in many states can legally wager on sports, a lot of the big international gambling brands decided to enter the US market. Additionally, players can find a lot of local companies that have been around for many years.
As of 2024, American sports betting fans can find various websites and products from brands such as 888 Holdings Pcl, Bet365, Entertain pc, FanDuel Group, IGT, Betsson AB, DraftKigns, and more.
888 Holdings is probably among the most recognizable names globally. This company is behind the famous 888sports, 888poker and 888casino. What’s more, the brand also purchased William Hill and Mr Green and became the owner of the All American Poker Network. The latter has helped it establish itself in the US market.
Churchill Downs is another big name in the US betting industry. This publicly traded company has casinos and a race track.
Conclusion
After analyzing loads of surveys and data about the past and future, it’s safe to conclude that sports betting in the US has a bright future ahead of it. Considering that more than 68M Americans wanted to wager on the Super Bowl LVIII (35% more than in 2023), it’s clear that this hobby has loads of fans. We expect to see even more sports betting operators and unique options.
Since the US is home to some of the world’s biggest sports betting companies, they will utilize the new tech to provide players with even better products. It will be interesting to see how they use AI to come up with tailored offers, new features, and more.
