State Gambles the Most Sports Batting
New Jersey is bucking the trend and passing Nevada as the state with the largest amount of sports betting handle per month. In May, New Jersey reaped $318.9 million in handle and $15.5 million in revenue, topping Nevada’s $317.3 million and $11.6 billion in handle. Nevada is a popular vacation spot but ranks low in the Wedge Index, which ranks states on their sports betting activity based on other factors.
While tax rates vary from state to state, most states collect between five and twenty percent of their sports wagering revenue per month. Some states, such as Pennsylvania, even go as far as collecting half of the revenue. Mobile operators are subject to the same tax rates as retail operators, but New Jersey charges higher taxes on their sports betting revenues. This may be due to the fact that New Jersey is considered a tourist state, but mobile sports betting is the fastest-growing type of gambling.
What state gambles the most sports batting for jackpots? In May, New Jersey won the jackpot. Sports bettors have the chance to win huge amounts of money. While Nevada has the most sports bettors per capita, New Jersey has a more diverse population than its neighbor. Its largest population is more than six times the size of Nevada, and it has almost twice as many people as New Jersey.
What State Gambles the Most Sports Batting For Jackpots?
New Jersey’s legal sports betting industry is already a booming business. In November alone, New Jersey sports betting generated $1.26 billion in revenue, up 25 percent from the previous year. In addition to sports betting revenues, New Jersey has also established a Casino Revenue Fund to benefit senior citizens and disabled residents. If all goes well, legal sports betting may be available in 80% of U.S. states within five years.
In addition to Nevada, New York is also the largest state for sports gambling. It reaped $603.1 million in handle in the first nine days of legal sports betting. That’s more than twice the amount of money generated by Pennsylvania’s legal sports betting. However, the state did not clear online operators until Jan. 8. This is good news for Nevada’s sports betting industry. So, what state do you think?