August bares witness to record betting handle as gaming slumps on slow recovery

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their highest handles to date, with New Jersey’s $668m in wagers the highest any state has recorded since PASPA was repealed.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.

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.