- The monthly handle for the sports betting industry dropped by 24% from June to July.
LAS VEGAS - Despite having its best financial year to date, the sports betting industry handle suddenly dropped in July of 2021.
Monthly Handle Drop Off
The combined betting handle of the 12 reporting states for July was only $1.47 billion, as opposed to the impressive handle of the previous month boasting $1.94 billion.
This marks a notable 24.33% drop from June to July.
Though it's important to keep in mind that the NFL season starts to heat up in August, so, in the month leading up to it, many potential sports bettors are likely choosing to hold off on their bets until they can bet on NFL games.
Best Year So Far
It's not all bad news however, many states saw their best gambling quarter since launch in Q1 2021, much of which can be attributed to the exploding sports betting industry.
Following the devastating effect the COVID-19 pandemic had on the entire United States business sector, the sports betting industry quickly found its footing and ended up thriving despite still being in its infancy in many states.
Now it's quickly becoming one of the most lucrative online gambling industries on the market.