Sports Gambling Industry - 5 Years Later

Monday, May 15th, 2023 -- 9:58 AM

Five years ago yesterday, the Supreme Court lifted a federal ban on sports gambling in the US, spawning a multibillion-dollar industry that’s transformed how Americans watch, talk about, and experience sports.

$95 billion: That’s how much Americans bet on sports in legal jurisdictions with consumer protections last year, Sportico reported. It’s more money than the amount spent on ride sharing, coffee, or streaming.

71%: Two sports betting companies, DraftKings and FanDuel, control more than 70% of the US market, per gambling analytics firm Eilers & Krejcik. But despite taking in ~10% of wagers, these companies have struggled to turn a profit. FanDuel recorded its first quarterly profit last year, and DraftKings has yet to report a profitable quarter.

33: That’s the number of states that currently have legal sports betting (Washington, DC, has it too). Another four states have legalized sports wagering, but don’t have any sportsbooks operating yet.

3: The three most-populous US states—California, Texas, and Florida—have not legalized sports gambling. They account for 26% of all teams in the major North American pro leagues, according to Axios.

45%: The number of women joining sportsbook apps jumped 45% last year, marking the third straight year that new women users exceeded men. DraftKings said that bets on women’s sports had increased 61% annually last year.

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