Sports Betting Tax Revenue Jumped 34% in 2023, LendingTree Study Says

State tax revenue from legal sports betting in the United States rose by 34.7% in 2023, according to an analysis released by online lending marketplace LendingTree.

The analysis of US Census Bureau state tax revenue found that the sports betting figure increased to almost $2.5 billion, up from $1.8 billion in 2022.

The Gaming Today Sports betting revenue tracker pegs sports betting tax revenue at $636 million so far in 2024, covering 33 reporting jurisdictions. The LendingTree study also takes into account pari-mutuel wagering. Gaming Today’s 2023 was slightly lower nationally for 2023, at $2.1 billion.

Other findings from the report:

  • New York is a revenue powerhouse. In 2023, it took in a nation-high $876 million in sports betting tax revenue.
  • This marked a 24.1% increase from 2022 in New York.

sports betting revenue

  • Alabama, Nevada, Colorado, and Virginia registered increases of more than 40% in 2023.
  • 19 states had double-digit growth in sports betting tax revenue.
  • 12 states collected less sports betting tax in 2023 than in 2022.
  • Delaware had the biggest drop, down 44.3%. Notably, Delaware launched mobile sports betting for the first time in January 2024.

Other Insights From the LendingTree Report

  • 44 percent of Americans say sports betting should be legal nationwide.
  • 18 percent disagree.
  • 47 percent worry about sports betting affecting integrity in athletics.
  • 15 percent responded as unconcerned.

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About the Author
Brant James

Brant James

Senior Writer
Brant James is a senior writer who covers the sports betting industry and legislation at Gaming Today. An alum of the Tampa Bay Times, ESPN.com, espnW, SI.com, and USA Today, he's covered motorsports and the NHL as beats. He also once made a tail-hook landing on an aircraft carrier with Dale Earnhardt Jr. and rode to the top of Mt. Washington with Travis Pastrana. John Tortorella has yelled at him numerous times.

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