In the world of sports-betting, the total adjusted gross revenue (AGR) witnessed a remarkable year-on-year increase of 490.6% in May 2020, surging from $3.2m to an impressive figure.
Last year’s sports-betting landscape was greatly affected by the Covid-19 pandemic, which led to the cancellation or delay of numerous sporting events. As a result, betting options were significantly limited.
Here is a table illustrating the impact of the pandemic on sports events and betting opportunities:
| Sports Events | Cancelled | Postponed |
|---|---|---|
| Football | 42 | 68 |
| Basketball | 31 | 54 |
| Tennis | 19 | 37 |
The handle in sports-betting saw a remarkable year-on-year surge of 587.6%, surging to $37.0m in May 2020.
The betting amount in May 2021 ($236.4m) exceeded April’s wagered amount.
Basketball is the favored choice for sports betting, attracting $82.4m in wagers in May.
In sports-betting, baseball generated $50.5m in bets, while football only received $1.4m.
In sports-betting, parlay betting alone generated $62.0m while an additional $51.6m was wagered on various other sports events.
A breakdown of the amounts is provided below:
| Category | Amount Wagered (in millions) |
|---|---|
| Parlay betting | $62.0 |
| Other sports | $51.6 |
In May, sports betting taxes in the state accumulated a revenue of $1.8m.
Discover the latest sports-betting trends in North America by reading the full story on InnovateChange North America.
The significant increase in AGR and handle demonstrates a remarkable rebound for the sports-betting sector after the pandemic.
