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The Amount of Money Lost — and Saved — by Sportsbooks Being Out of Action

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Sports betting has long been a part of the American fabric. For some, sports themselves only really come alive when you have money riding on the outcome. However, without live sports on which to bet, the entire American sports betting establishment has come to an abrupt and sudden halt. And while that might actually be a financial benefit to perennial losers, it’s also a pretty devastating blow to the livelihoods of thousands of people employed by sportsbooks, casinos and elsewhere.

To help get a clearer sense of the economic impact — both on the sportsbooks and their employees, as well as the bettors — GOBankingRates compiled the data on the average monthly haul in each of the dozen states where some form of sports gambling is legal, and calculated approximately how much was lost in the six or so weeks since major sports shut down.

The data includes a few terms you should know:

  • Handle: The total amount wagered over the specified time period.
  • Revenue: The amount kept by sportsbooks from those wagers.
  • Hold: The percentage of bets kept by the casinos.
  • Taxes: Taxes collected by state and local jurisdictions.

The results demonstrate that — however you feel about gambling — sports betting is a big business that a great many Americans depend on. So, take a closer look at just how much money is being lost — and saved — by the cancelation of live sports.

Last updated: May 12, 2020

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New Hampshire

New Hampshire’s nascent sports betting industry only came into existence in the waning days of 2019, meaning the state wasn’t even into its third month in operation when things came crashing to a halt. The state’s industry was a result of a deal between the New Hampshire Lottery and DraftKings.

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Monthly Average

  • Handle: $15,877,367
  • Revenue: $1,124,978
  • Hold: 6.90%
  • Taxes: $573,739

CiydemImages / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $23,816,051
  • Revenue: $1,687,467
  • Hold: 10.35%
  • Taxes: $860,608

Luciano Mortula - LGM / Shutterstock.com

New York

The initial effort to open four casinos in upstate New York included making it legal to operate sportsbooks, provided the federal ban against them was lifted. And after the 2018 Supreme Court ruling that struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992, the Empire State jumped into action — just in time for the 2019 football season.

NYCStock / Shutterstock.com

Monthly Average

  • Handle: N/A
  • Revenue: $1,193,399
  • Hold: N/A
  • Taxes: $138,954

alfexe / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: N/A
  • Revenue: $1,790,099
  • Hold: N/A
  • Taxes: $208,431

ARTYOORAN / Shutterstock.com

Oregon

Oregon had some limited legal sports betting before the passage of the PASPA, so they already had laws regulating the industry when the act was struck down in 2018. The state has also had legal mobile sports betting since October of last year.

Kobby Dagan / Shutterstock.com

Monthly Average

  • Handle: $18,236,059
  • Revenue: $1,271,681
  • Hold: 6.55%
  • Taxes: N/A

jk78 / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $27,354,089
  • Revenue: $1,907,522
  • Hold: 9.83%
  • Taxes: N/A

DenisTangneyJr / Getty Images/iStockphoto

Delaware

Within a month of the PASPA being struck down, Delaware had moved to create a legal sports betting industry in the state. Three in-state casinos started offering single-game betting on June 5, 2018.

Kobby Dagan / Shutterstock.com

Monthly Average

  • Handle: $9,980,010
  • Revenue: $1,287,677
  • Hold: 12.78%
  • Taxes: $563,358

Oleg Elkov / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $14,970,015
  • Revenue: $1,931,516
  • Hold: 19.17%
  • Taxes: $845,037

Sean Pavone / Getty Images/iStockphoto

Rhode Island

The nation’s smallest state got its sports betting industry underway in November of 2018 when Lincoln’s Twin River Casino opened up its sportsbook. However, the law allowed for only two locations to offer the service.

rez-art / Getty Images/iStockphoto

Monthly Average

  • Handle: $19,101,460
  • Revenue: $1,474,456
  • Hold: 7.97%
  • Taxes: $751,973

MartinPrague / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $28,652,190
  • Revenue: $2,211,684
  • Hold: 11.96%
  • Taxes: $1,127,960

Sean Pavone / Getty Images/iStockphoto

West Virginia

West Virginia set its sports betting framework in motion in August of 2018, making it the fifth state to do so. The first casino there was the Hollywood Casino, owned by Penn National.

George Sheldon / Shutterstock.com

Monthly Average

  • Handle: $18,753,977
  • Revenue: $1,485,998
  • Hold: 12.91%
  • Taxes: $161,860

stevanovicigor / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $28,130,966
  • Revenue: $2,228,997
  • Hold: 19.37%
  • Taxes: $242,790

pabradyphoto / Getty Images/iStockphoto

Iowa

Iowa passed its law legalizing sports betting in May of 2018 — the same month as the PASPA decision — and began taking bets by August of the same year. The state requires a $45,000 licensing fee for sportsbooks and charges a 6.75% tax on all revenue.

Philip Lange / Shutterstock.com

Monthly Average

  • Handle: $46,762,454
  • Revenue: $3,324,345
  • Hold: 9.74%
  • Taxes: $224,393

Kyryl Gorlov / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $70,143,681
  • Revenue: $4,986,518
  • Hold: 14.61%
  • Taxes: $336,590

DenisTangneyJr / Getty Images

Mississippi

Mississippi didn’t wait to enact legislation allowing for sports betting. In fact, it passed laws in 2017 that cleared the path pending a favorable Supreme Court decision that helped two of the MGM-owned casinos in the state start taking sports bets beginning in August of 2018.

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Anton Gvozdikov / Shutterstock.com

Monthly Average

  • Handle: $31,892,970
  • Revenue: $3,493,199
  • Hold: 10.79%
  • Taxes: $419,184

Alihan Usullu / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $47,839,455
  • Revenue: $5,239,799
  • Hold: 16.19%
  • Taxes: $628,776

SeanPavonePhoto / Getty Images/iStockphoto

Pennsylvania

Pennsylvania jumped on taking legal sports bets well before it was clear it would be legalized, passing a law in 2017 in anticipation of the PASPA case the next year. The first legal bets were made by mid-November of 2018, but the state also received a letter from the NFL citing concerns about a lack of consumer protections.

Anton Gvozdikov / Shutterstock.com

Monthly Average

  • Handle: $136,618,892
  • Revenue: $9,828,838
  • Hold: 10.07%
  • Taxes: $3,525,649

alfexe / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $204,928,338
  • Revenue: $14,743,257
  • Hold: 15.11%
  • Taxes: $5,288,474

Sean Pavone / Getty Images/iStockphoto

Indiana

The Hoosier state’s sports gambling industry kicked off in September 2019, meaning it had only half a year in operation before things came slamming to a stop. The state allows for bets on college and professional sports events but bans betting on high school events or esports.

Przemek Tokar / Shutterstock.com

Monthly Average

  • Handle: $132,372,353
  • Revenue: $10,894,020
  • Hold: 10.70%
  • Taxes: $1,034,932

agrobacter / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $198,558,530
  • Revenue: $16,341,030
  • Hold: 16.05%
  • Taxes: $1,552,398

DenisTangneyJr / Getty Images

New Jersey

New Jersey passed its new law allowing for legal sports bets on June 11, 2018, and it was just three days until the first legal bets were made on June 14. Atlantic City casinos were quick to adopt this new potential revenue stream.

Andrija Nikolic / Getty Images

Monthly Average

  • Handle: $326,911,101
  • Revenue: $22,091,009
  • Hold: 7.69%
  • Taxes: $2,899,905

martin-dm / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $490,366,652
  • Revenue: $33,136,514
  • Hold: 11.54%
  • Taxes: $4,349,858

Kit Leong / Shutterstock.com

Nevada

The one state where sports betting has continued unimpeded by law throughout the reign of PASPA, Nevada’s sportsbooks are not recent additions. However, with more competition from various local operators, Vegas no longer has the monopoly on sports gambling it once enjoyed.

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Wpadington / Getty Images/iStockphoto

Monthly Average

  • Handle: $442,146,006
  • Revenue: $27,156,000
  • Hold: 5.79%
  • Taxes: $1,833,030

Angela Kotsell / Getty Images/iStockphoto

How Much Was Lost — or Saved — Due To Coronavirus

  • Handle: $663,219,009
  • Revenue: $40,734,000
  • Hold: 8.69%
  • Taxes: $2,749,545

More From GOBankingRates

Methodology: GOBankingRates, in order to find the amount lost and saved by sportsbooks being out of action, used Legal Sports Report’s “U.S. Sports Betting Revenue and Handle” report. With this report, GOBankingRates found the following for each state where sportsbooks are legal: (1) amount wagered over the time period (handle); (2) amount of money kept by sportsbooks out of the amount wagered (revenue); (3) how much revenue sportsbooks keep as a function of handle (hold); and (4) taxes collected by state and local jurisdictions; or state share of proceeds in revenue-sharing markets (taxes/state revenues). Next, GOBankingRates found the monthly average for those four factors in each state and then calculated how much each sportsbook would’ve made/lost over the last one and a half months (mid-March through April) when no sports were taking place. GOBankingRates collected all of the above data from the time when each state legalized sports betting to the time when the data was most recently updated for each state. All data was up to date and collected on April 29, 2020.

Photo disclaimer: Photos are for illustrative purposes only. As a result, some of the images may not reflect places or services relevant to the states listed in this article.