Sports betting posts record-setting 2021 revenue at $4.3 billion

Sports Betting revenue
A picture taken with a fisheye lens show a view of the three-story Circa Sportsbook is seen during the Circa Resort & Casino grand opening event in Las Vegas, Nevada, U.S. October 27, 2020. REUTERS/David Becker

Sports betting reached new heights in 2021, accruing a whopping $4.3 billion in revenue, according to the American Gaming Association‘s State of the States report.

The jaw-dropping production was a 179.7% increase from 2020 thanks to the ever-expanding influence that sports betting has on the United States.

Last year alone saw seven states legalize sports betting. It was followed up closely by New York in January of 2022.

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Of all legal states in 2021, New Jersey generated the most revenue at $816 million followed by Pennsylvania, Illinois, and Nevada.

Broadening the scope to feature casino and online-gaming proceeds, overall gaming revenue brought in $52 billion last year.

That’s a 21.5% increase from its previous record output in 2019.

This record isn’t expected to stand for too long, though.

New York alone posted a $320.9 million revenue on $4.87 billion in wagers during the first quarter of 2022.

Its headlined a sports-betting-revenue increase that rose 64.6% nationally during the first quarter.

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