Rates rose three points or more in 11 of 15 states. That number was 9% in March, up from 6% the previous March. One gauge of whether a sportsbook is likely to be profitable is hold - the percent of handle, or money wagered - that it keeps after paying the winners. Figures around 'hold' among good indicators for sportsbooks In this case, that trend could be a move toward profitability - a theme that you’re likely to encounter frequently as the year progresses.

But comparing year-over-year results, within individual states, should be a reliable indicator of a trend. Quarterly earnings reports can offer a clearer picture. I’ve been reluctant to put much stock in revenue listed in state filings because of the deductions that they allow sportsbooks to take, and the degree to which they report those deductions, will vary. That’s worth repeating: a 1% increase in betting yielded a 49% boost in revenue. But gross revenue reported in those states was $512 million, an increase of 49% over 2022. The first 15 states to report results for March showed handles almost identical to the same month last year, combining to take $5.45 billion in wagers, up 1% from 2022. It looks like sportsbooks are starting to see a return on the seed money that they scattered to acquire customers over the last few years.

Are we seeing early signs of sportsbook profitabiity? But they’ll breed more trust if the facts are laid bare for all to see. Leagues should release the findings of their investigations whenever they take action against a player, revealing who bet, when they bet, how much they bet and what they bet on. But if the goal is to preserve integrity, the process must be transparent. Today’s indefinite suspension of three NFL players accused of betting on games sends a firm, cautionary message to players across sports.

Betting sportsbooks