The American sports betting industry posted a record $13.71 billion in 2024 revenue, up from 2023’s record of $11.04 billion, according to the American Gaming Association’s annual report issued Wednesday.
The AGA, during its state of the industry call, said legal sportsbooks took nearly $150 billion worth of bets, a 22.2% increase from 2023. Sportsbooks won at a 9.3% rate nationally, a slight increase from 2023’s 9.1% hold percentage.
The AGA also reported that Q4 2024 was the industry’s most lucrative quarter on record at $3.66 billion — a 7.3% increase from the previous quarterly record set in Q4 2023. This was despite NFL favorites, who are generally more backed by the betting public, winning at historic rates during the 2024 season.
The industry is evolving even as more states continue to legalize sports betting and it becomes normalized nationwide.