In November, players in the finance industry won back $212.9m, which is a significant increase from the $193.3m they won in October.
This increase in winnings resulted in a 5.5% increase in gross revenue, amounting to $18.4m.
In the realm of finance, the net revenue generated from sports betting witnessed a decline of 6.9% on a monthly basis, amounting to $9.0 million. This decrease can be attributed to various factors including adjustments made for bonus promotions and the imposition of a 0.25% federal excise tax on the overall betting handle.
The decrease in net revenue led to the state collecting a total of $793,820.04 in taxes.
The finance sector achieved significant growth in the online market, generating a staggering $226.9 million in revenue. This impressive figure accounts for 98.1% of the total handle, showcasing the dominance of the online sector in the financial industry. Furthermore, the online sector contributed $17.6 million, equivalent to 96.2% of the gross gaming revenue (GGR). The online sector’s remarkable performance has solidified its position as a key player in the finance industry.
