Total legal sports betting reached $149.6 billion in 2024, a 23.6% increase from the previous year, generating $2.8 billion in tax revenue, according to Covers.com.
The sports oddsmaker website also broke out sports betting by state, and Virginia ranks in the top 10, at No. 9, with $6.9 billion in total handle last year — a 23.9% increase. New York led states, with $22.7 billion in handle, followed by Illinois at $14 billion, and New Jersey with $12.8 billion.
The District of Columbia had one of the largest year-over-year changes in sports betting handle last year at $461.6 million, up 172.2%. That generated $16.3 million in tax revenue for D.C., triple what it was in 2023.
Covers.com notes the end of FanDuel’s monopoly within the District and the opening to every other major sports operator was the reason for the boom in sportsbooks.
Maryland fell just outside of the top 10, with $5.9 billion in sports handle last year, up 28.7%, and $82.3 million in tax revenue.
Virginia’s top 10 sports handle last year generated $92.3 million in tax revenue for the state.
Covers.com breaks out 2024 sports handle, gross revenue, hold rate and tax revenue by state online.
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