Industry

The Kansas City Chiefs, Baltimore Ravens, Detroit Lions, and San Francisco 49ers all booked their tickets into the next round and will compete in their respective conference championship games this weekend. But while those four won big, legal sportsbooks found themselves on the losing side of most markets.

ESPN Bet launched in late 2023 with the goal of acquiring a 10% market share and challenging the “Big Four” operators within the first three years of operation. After one full month in Massachusetts, the new legal sports betting platform is already one of the top three operators.

The expectation is that the increase in bets will continue through the Super Bowl, which the American Gaming Association estimated last year produced over $16 billion in bets from 50 million Americans. If future results match last weekend’s, it will be a profitable year for the books.

Saban was not only responsible for leading his teams to six national championships, but he completely changed the economics of the University of Alabama and the state itself. His departure will lead to an inevitable power shift within the region across multiple industries.

Last year, FanDuel users could win a share of $10 million in bonus bets as long as Gronk attempted the field goal. This time, users must pick in their mobile sportsbook app whether or not the four-time Super Bowl champion will split the uprights or push his kick wide.

The New York State Gaming Commission revealed in its final report for 2023 that the state generated more than $1.69 billion in gross gaming revenue (GGR) from more than $19 billion in sports bets which resulted in $861 million in tax funding for the state.

North Carolina legalized the expansion to online sports betting in 2023 with a law that will go into effect on Jan. 8. The state expects to launch the newly-expanded market by June 14 but has not provided an official date, though that date is not expected to fall before the Super Bowl.

Of the nine teams that have clinched playoff berths, five are from legal sports betting jurisdictions, and of the 11 that are still alive for a spot, eight are from states with a legal sports betting market.

Nevada's largest city has long been the epicenter for high-roller wagering and lavish festivities. However, its multi-layered commitment to growing its sports culture has put it in a powerful position amid the dominant rise of American legal sports betting.

2023 was a record setting year for sports betting with over a $100 billion handle, more than a 7.2% increase from 2022. Ohio and Massachusetts posted impressive numbers in their 1st year, and New York proved to be the best state in terms of monthly handle.