Sports betting in the United States has grown from $6.61 billion in total handle during 2018 to $79.91 billion through three quarters of 2025. The gross revenue figures tell a similar story, climbing from $441.7 million in 2018 to $7.86 billion in the first nine months of 2025. These numbers represent actual money wagered and operator profits across 38 states plus the District of Columbia that now permit legal sports betting.
Market Performance Breaks Previous Records
The 2024 full year ended with $149.74 billion in handle and $13.75 billion in gross revenue. Through October 2025, the market has already processed more than half that annual figure in nine months. The hold percentage, which measures how much operators keep from total wagers, has increased from 9.2% in 2024 to 10.0% in 2025.
May 2025 commercial gaming revenue reached $6.73 billion, marking a 10.9% increase from May 2024. Sports betting specifically generated $12.10 billion in handle during that month, with operators keeping 11.3% compared to 10.5% the previous year. Through May, cumulative commercial gaming revenue totaled $31.89 billion, up 7.1% from 2024’s comparable period.
Managing Bankroll During Peak Betting Seasons
The NFL season drives approximately $30 billion in legal wagering annually, making bankroll management particularly important during this period. Bettors typically allocate between 1% to 3% of their total funds per wager, though this varies based on confidence levels and betting patterns. Some operators provide promo codes for sportsbooks that offer deposit matches or risk-free bets, while others focus on boosted odds for specific games or parlays during high-volume periods.
Professional bettors often recommend setting weekly loss limits and tracking spending across multiple platforms to maintain discipline during intense betting periods. The January 2025 data shows Florida processed $1.55 billion in handle during peak NFL playoff season, demonstrating the increased betting volume that occurs during major sporting events. These periods require stricter bankroll controls as the frequency of wagering opportunities increases substantially compared to slower summer months.
State Markets Show Different Growth Patterns
New York processed $2.05 billion in wagers during August 2025, a 42% increase from $1.44 billion in August 2024. Revenue climbed from $126.0 million to $178.8 million during that period. The state maintains consistent win rates between 8.73% and 8.74%, though monthly growth rates have varied from 9.5% in April to over 42% in August.
Florida entered the market in December 2023 with Hard Rock Bet as its sole online operator. The state generated $12.73 billion in handle during 2024. Through seven months of 2025, Florida has processed $8.20 billion in wagers with $820 million in gross revenue. Monthly performance fluctuates seasonally, with January 2025 reaching $1.55 billion in handle while July dropped to $727.3 million.
New Jersey’s August 2025 handle reached $814.3 million compared to $698.8 million the previous August. Revenue increased from $62.7 million to $81.9 million. The state posted $790.4 million in June handle and $664.0 million in July, with all recent months exceeding 2024 figures.
Online Betting Outpaces Retail Operations
Online gaming revenue expanded 27.5% to $2.19 billion in May 2025. Online sports betting revenue grew 21.4%, while iGaming revenue increased 33%. Land-based gaming grew 4.8% to $4.53 billion in combined monthly revenue from traditional casino games and retail sports betting.
iGaming operates in seven states and generated $899.8 million in May 2025, a 33.0% increase from the previous year. Delaware, Rhode Island, and West Virginia more than doubled their iGaming revenue compared to May 2024. Through May, iGaming revenue reached $4.29 billion, up 29.5% from 2024’s comparable period.
Retail sports betting revenue doubled in May, growing 101.8%, while revenue from traditional casino games increased 3.9%. The contrast between online and retail growth rates shows consumer preferences shifting toward mobile platforms.
Football Dominates Betting Handle
The NFL accounts for the largest share of sports betting activity despite having fewer games than basketball or baseball seasons. DraftKings reported more bets and money wagered on NFL games than any other league in 2024. Projected wagering on the current NFL season approaches $30 billion through legal sportsbooks, an 8.5% increase from last year’s $27.5 billion estimate.
Beyond traditional sportsbooks, Americans wager through daily fantasy sites, sweepstakes operators, and prediction markets. Kalshi, a prediction market platform, reported $62.5 million traded on NFL outcomes in the current year. These alternative platforms operate alongside licensed sportsbooks in various regulatory frameworks.
August traditionally represents a slow period for sportsbooks before football season begins. Yet August 2025 showed $478.7 million in handle, up from $370.5 million in August 2024. Revenue increased from $33.8 million to $54.1 million during this preseason period.
Revenue Efficiency Improves Across Markets
Hold percentages have gradually increased from 6.7% in 2018 to 10.0% through three quarters of 2025. This improvement indicates operators are refining their pricing models and risk management strategies. The national hold rate reached 11.3% in May 2025, demonstrating month-to-month variability in operator profitability.
Commercial gaming revenue through August 2025 reached $51.14 billion, 8.9% higher than the same period in 2024. Of 37 commercial gaming jurisdictions with complete May data, 35 reported increased combined revenue. Only Nevada experienced a 2.2% decline and South Dakota showed a 3.1% decrease.
Sports betting has expanded from a few states in 2018 to 38 states plus the District of Columbia offering legal markets. The compound annual growth from 2018 to 2023 shows handle increasing from $6.61 billion to $121.06 billion. Gross revenue climbed from $441.7 million to $11.05 billion during that same period. Current 2025 data suggests the market will exceed 2024’s record figures once fourth-quarter results include the NFL playoffs and Super Bowl period.
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