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.

Gaming Today’s 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.

• 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.

READ MORE:

• Responsible Gaming
• Sports Betting Tools and Calculators