Americans Bet a Record $166.94 Billion on Sports in 2025 — And the Industry Is Still Growing

By HamptonINT Staff — Legal sports wagering in the United States shattered all previous records in 2025, with Americans placing $166.94 billion in bets through licensed sportsbooks. The figure, compiled from state gaming commission reports, represents a year-over-year increase of more than 20 percent and underscores the continued rapid expansion of the legal betting market since the Supreme Court's 2018 ruling in Murphy v. NCAA.

Breaking Down the Numbers

The record handle was driven by a combination of factors: continued state-by-state legalization, aggressive promotional spending by major operators, and the growing normalization of sports betting among mainstream American consumers. Football — both NFL and college — accounted for the largest share of total handle, followed by basketball and baseball.

Revenue to operators, which reflects handle minus winnings paid out, reached approximately $14.2 billion for the year — a figure that has drawn increasing attention from state legislatures weighing tax rate adjustments.

Which States Led the Way

New York, New Jersey, and Illinois continued to dominate in raw handle volume, reflecting their large populations and mature regulatory frameworks. Several newer markets — including North Carolina, which launched mobile wagering in 2024 — posted impressive early numbers, suggesting the national total has significant room to grow as remaining holdout states consider legalization.

The Ceiling Question

Industry analysts are divided on how much further the legal market can expand. Optimists point to the roughly 10 states that have yet to legalize sports betting, plus the ongoing migration of bettors from illegal offshore books to licensed platforms. Skeptics note that customer acquisition costs have risen sharply, promotional spending is being curtailed, and several major operators have shifted focus from growth to profitability.

"The easy growth is behind us," one analyst told HamptonInt. "What comes next requires operators to actually retain customers rather than just buy them."

What It Means for Bettors

For everyday bettors, the record handle is a double-edged signal. A larger, more competitive market generally means better odds and more promotional offers — but it also means operators are becoming more sophisticated at identifying and limiting sharp bettors. Understanding the market dynamics is increasingly essential for anyone looking to bet seriously.

By HamptonInt Staff. Handle and revenue figures sourced from state gaming commission reports and American Gaming Association data.