Sports Betting Industry Continues to Grow in 2023

The sports betting industry continued to grow in 2023, with handle reaching $11.5 billion as of March 8, 2023. This is up from $13 billion in 2022 and $10 billion in 2021. The growth of the industry is being driven by a number of factors, including the legalization of sports betting in new states, the increasing popularity of mobile betting, and the growing interest in live betting.

In addition to the growth in handle, the sports betting industry is also generating significant tax revenue for states. In 2023, states collected $2 billion in taxes from sports betting. This money is being used to fund a variety of projects, including education, infrastructure, and public safety.

The growth of the sports betting industry is a positive development for the economy and for sports fans. It is creating jobs, generating tax revenue, and providing new opportunities for fans to engage with their favorite sports.

Industry experts are expecting the sports betting industry to continue to grow in 2023. They are projecting that the handle will reach $15 billion by the end of the year. This growth will be driven by the continued legalization of sports betting in new states, the increasing popularity of mobile betting, and the growing interest in live betting.

The growth of the sports betting industry is a positive development for the economy and for sports fans. It is creating jobs, generating tax revenue, and providing new opportunities for fans to engage with their favorite sports.