Post-PASPA US Sports Betting Handle Surpasses $500 Billion

As the seventh anniversary of the U.S. Supreme Court overturning the Professional and Amateur Sports Protection Act draws near, another sports betting milestone was reached last week, when total known state-by-state commercial wagering cleared $500 billion.

The figures do not include Nebraska and Puerto Rico; the former does not publish monthly handle and statistics from the latter are not readily accessible. The benchmark was reached April 29 when the Nevada Gaming Control Board reported $859.5 million worth of wagers accepted in the Silver State for March.

Betting in 2025 has gotten off to a fast start, with the $40.9 billion wagered in the first quarter, up 11.8% compared to last year. Some of that growth can be attributed to North Carolina completing its first 12 months of wagering after launching in March 2024, but a notable chunk has come from the largest market in the U.S. — New York — as more and more people begin to bet.

The $6.9 billion wagered in the Empire State the first three months of the year is up 23.5% from last year, an increase of $1.3 billion. It also has completely absorbed the downturn in action in neighboring New Jersey, where the $3.25 billion worth of bets placed is down 21.3% year-over-year.

Chronological, sometimes exponential growth

It is not surprising there is sizable year-over-year growth across the U.S., though it has slowed with fewer states left to legalize. At least one new state has entered the marketplace every year of the post-PASPA era, and Missouri will narrowly extend that streak in 2025 when it launches on or before Dec. 1.

What has been notable about the first quarter of 2025 is some large-market states showing they have yet to reach full saturation. Ohio’s year-to-date handle is up 20.7% and wagering is up 17% in Massachusetts. Illinois has reported an 11.4% handle increase in the first two months, and mid-Atlantic region states Maryland (10.4%), Virginia (8.2%), and Pennsylvania (6.6%) all have reported year-over-year handle increases by nearly $150 million or more compared to the first quarter of 2024.

That’s not to say bettors are flush with money to wager everywhere. The decline in New Jersey could be attributed to New York City bettors — including big ones — no longer feeling the need to cross the Hudson River. That siphoning of bettors may also be taking place in Nevada, where Arizona’s robust mobile presence resulted in a third consecutive month of topping its neighbor to the north for handle. The $864.2 million wagered in the Grand Canyon State in January was up 22.3% from last year versus a 1.8% increase in Nevada to $796.9 million.

Total handle in the Silver State in 2025 is 0.8% compared to 2024, and it raises the question whether Nevada sportsbooks are now more big-event destinations for sports bettors, rather than the casual day-to-day bettors who now largely have access to a mobile sportsbook based on their residence.

The changing and constant of the guard

*Nevada’s handle is post-PASPA only.

New York’s launch of mobile sports betting in January 2022 and rapid ascent up the all-time chart puts the Empire State where it should have been all along. It will also stay there until California or Texas legalize, or if Hard Rock allows other operators mobile access in Florida.

The eventuality of New Jersey catching Nevada for the No. 1 spot back in May 2021 was a notable achievement for the Garden State, and then New York overtook both. Once the undisputed champion of monthly handle, it is now routine to see Nevada rank outside the top five for monthly wagering. New York, Illinois, and New Jersey all outperform the Silver State on the regular, and others including Pennsylvania, Ohio, and Arizona are all competitive in that band.

The near-$14 billion gap between fifth-place Pennsylvania and sixth-place Colorado means there will not be much change in the top five for the short or even medium-term. Arizona, though, figures to slot ahead of Colorado into sixth at some point during the summer.

The bottom of the top 10 is where there could be a change in the hierarchy in late 2025. Ohio will likely become the 11th state to surpass $20 billion handle in April after flirting with its fourth $1 billion monthly handle in March. It narrowed the gap to Michigan by more than $500 million in March, and a further shrinking is expected when football season rolls around.

Charting for $600 billion

There is a chance that July will be the only month this year where nationwide handle fails to reach $10 billion, a figure that can be argued is the new normal. The slow months of the sports betting calendar from June through August saw year-over-year handle increase by an average of 34.5% in 2024.

Given the slower year-over-year growth thus far, matching that percentage seems unattainable. But also given the growth in Arizona and Illinois — whose three outstanding revenue reports will complete the first quarter of 2025 — a 12.5% year-over-year increase in year-to-date handle is reasonable. Using that baseline, June through August handle this year projects to $28.34 billion, with June and August both topping $9.8 billion.

By the time August rolls around, the sports betting machine is readying itself for the prime mover of handle: the National Football League. With football season comes aggressive and sometimes relentless promotional offers from mobile sportsbooks seeking those few remaining new bettors and retaining those who are loyal.

Month-over-month handle from August to September surged 74.1% in 2023 and 54.2% in 2024 to $11.19 billion and $13.49 billion, respectively. Taking the midpoint of 64.15% for an average August-to-September increase in 2025 coupled with that projected August baseline figure of $9.84 billion, the handle for September would be a record $16.16 billion.

It would likely be a short-lived record, though. There are five Saturdays and Sundays in November coupled with the convergence of the NBA, NHL, and college basketball. The last two Novembers have seen record monthly nationwide handles at $13.96 billion in 2023 and the current $15.66 billion mark in 2024. A 16.1% increase in November handle compared to September — similar to 2024 — would result in $18.76 billion worth of wagers.

In estimating $3 billion handle in those three Arizona and Illinois reports, post-PASPA handle would be roughly $505.5 billion through the first quarter of 2025. Even matching the $94.8 billion wagered from April through November of last year would result in Thanksgiving likely being the point where $600 billion handle is crested.