US Sports Betting Financial Dashboards

Mouse over or click on any portion of the dashboard to drill down into data. Hold CTRL to make multiple selections.

All charts depict the financial metric specified in their respective title. A "$" signifies a chart depicting the financial metric selected by the user on the left-hand panel.

Methodology

There is variation in reporting methodology from state to state, particularly as relates to Revenue and, to a lesser extent, Taxes. For example, Delaware itemizes Vendor Fees, while Pennsylvania itemizes Promotional Credits. The goal of these dashboards is to provide intuitive insights into macro trends by way of visualizing data. As such, each state's financial statements are treated so as to maximize the ease of apples-to-apples comparisons.

The result should be much more accurate directional insights, even if individual data points sometimes vary from numbers published elsewhere, including state press releases. 

Additional dashboard views and more granular drill-downs are in the works. Please direct all inquiries, suggestions, or concerns over data discrepancies to dashboards@sharpalphaadvisors.com.

Detailed Notes (Last Updated: 6/28/20)

Calculating Hold %

  • While tempting, we should not simply calculate Hold % for a given month by dividing Revenue by Handle. Sports wagering gross gaming revenue is reported on a cash basis in. Wagers on future events are taxed as current revenue and payouts for winning wagers are recognized in the period redeemed.

Delaware

  • Delaware taxes are taken from the "State Share" line item on the "Distribution of Net Proceeds" report

Indiana

  • Indiana reports "Taxable Adjusted Gross Revenue (AGR)" after adjustments that are specified as "any miscellaneous adjustments, loss carry over, and uncollectible deduction." We removed these adjustments before reporting monthly Revenue so as to provide a more accurate picture of consumer betting behavior. 

Iowa

Michigan

Mississippi

Nevada

  • Nevada redacted April 2020 sports wagering figures as casinos were closed; they have been assumed to be $0

  • Nevada occasionally reports nominal Revenue figures on "Sports Pari-Mutuel" line item; for the time being, these values have been excluded from our calculations

  • Some of the 2020 Nevada tax breakdowns were assumed to be pro-rata, based on the officially-reported aggregate number

New Hampshire

  • Some historical New Hampshire data is sourced from various news articles, where official state reports could not be located

New Jersey

  • To calculate the breakdown of Taxes for New Jersey, the 8.5% rate for retail and 13.0% rate for online were each applied to their respective revenue figures, with the results then being normalized to align with the state's reported total Tax revenue figure.

Oregon

Pennsylvania

  • When applicable, Pennsylvania Revenue figures are recorded from the "Revenue" line item as opposed to the "Gross Revenue (Taxable)" line item.

Rhode Island

West Virginia

  • West Virginia's breakdown of Handle into Retail vs. Online is accomplished by extrapolating the ratio for that month's Revenue, as reported by the State.

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