August bares witness to record betting handle as gaming slumps on slow recovery
Four states record highest handle to date as multiple sports leagues resume fixtures
Sports betting handle across the US hit a record $2.1bn in August, buoyed by the resumption of the NBA, MLB, NHL and NFL and resulting in revenue of $119.4m.
According to the AGA’s Commercial Gaming Revenue Tracker, Pennsylvania, Indiana, West Virginia and New Jersey recorded their highest handles to date, with New Jersey’s $668m in wagers the highest any state has recorded since PASPA was repealed.
National betting revenue grew 31.5% in the first seven months of 2020, compared to the same period last year.
Source: AGA
However, overall gaming revenue across the US slumped 20% in August as slots and table games reported 42% and 44% decreases on the previous year.
August GGR rose 5.6% on the previous month to $3bn as casinos in Florida, Michigan and Las Vegas re-opened for the first time since March.
Nationwide, 46 commercial casinos remained closed throughout the month with Covid-19 a significant risk in the country.
Nine states showed signs of recovery in August, with eight states reporting revenue within five percentage points of the previous year.