Surging Handle & Massive US Sportsbook Revenue Drops in June

If we look at wagers placed in June across the largest US states where sports betting is legal as a key parameter for American interest in soccer betting, one thing is clear: hosting the World Cup absolutely ignited their interest.

On the flip side, if we evaluate how much money was paid back to players during that time, we can also confidently claim that Americans definitely know how to bet on soccer. Of course, an influx of goals, star players delivering on expectations, and heavy favorites winning their matches played a huge role in bringing sportsbooks significantly lower earnings than usual.

In fact, according to the New Jersey Office of the Attorney General (NJOAG):

The decline primarily reflects patron winnings associated with the NBA Finals and FIFA World Cup games.

June Sports Betting Snapshot: $6.8 Billion Wagered

While many states have yet to release their monthly reports for June, the about 20 states that have reported so far gathered 6.8B in wagers and 468.4M in revenue. That translates to an overall win rate for sportsbooks of just 6.85% – the lowest since March 2025, when predictable March Madness bracket runs led to massive payouts for bettors and slim margins for bookmakers.

Let’s break it down step by step.

Year-over-Year (YoY) Wager Growth

Further proof supporting the soccer-driven hypothesis comes from the impressive year-over-year growth in wagered money across major sports betting states.

The Other Side of the Coin: High Wagers, Low Revenue

While states experienced massive year-over-year gains in overall wagered volume, most saw the exact opposite trend when it came to gross sports betting revenue.

Because bettors had such a winning month, sportsbook revenues (and state tax collections) took a major hit:

• New York: -43.54% revenue drop compared to last June

• New Jersey: -37.67% revenue drop

• Pennsylvania: -28.11% revenue drop

• Indiana: -18.44% revenue drop

• Connecticut: The most drastic case, plummeting -57.46% in gross revenue

The Exception: Louisiana managed to stay in the green, posting 7.27% growth in revenue despite the broader trend.

The Curious Case of DraftKings in Connecticut

The overall win rate for Connecticut sportsbooks during June was a paltry 3.83%, dropping to just 2.28% on adjusted revenue.

The three online sportsbooks operating in The Constitution State (FanDuel, Fanatics, and DraftKings) have never experienced such a low hold since online sports betting was legalized in 2021. But the story doesn’t end there: for the first time in state history, a sportsbook actually finished the month in the red.

DraftKings suffered the hardest hit in June:

While DraftKings operated at a loss, FanDuel managed to finish the month with 6M in positive revenue, and Fanatics brought in 4.6M.

DraftKings wasn’t alone in feeling the pain, either. The same red-ink phenomenon hit Tioga Downs Casino (a retail sportsbook in New York), and retail sportsbooks in New Jersey combined for a total negative revenue of -$672,671 for the month.

NBA and NHL Finals or Soccer?

The World Cup wasn’t the only major sporting event happening in June. The NBA and NHL playoff final series took place during the first half of the month. However, there were only 6 games in the NHL Finals and 5 in the NBA Finals combined.

As the NFL repeatedly proves, more games drive more wagering. Regular season months (September to December) consistently generate the highest sports betting handles. That volume drops off in January during the playoffs, and falls even lower in February for the Super Bowl – meaning the single biggest sports event on the calendar actually sees less overall monthly handle than the regular season or March Madness.

Accordingly, while the NBA and NHL Finals certainly boosted overall handle this June, it is unlikely they were the main drivers of total wagering volume.

Check the full revenue, handle, and tax data for all states here.

The Impact of “Futures” Wagers on Revenue

On the other hand, league finals had a much bigger impact on operator revenue.

As Louisiana’s historical reports clearly demonstrate, months where major league finals wrap up often yield negative revenue due to outright (future) bets. These wagers are placed months in advance for the overall champion; the wager is accounted for when placed, but the payout hits the sportsbook’s books in the month the champion is actually crowned.

For example:

• Baseball in Louisiana showed negative revenue in November both last year and the year before.

• Football experienced a similar dip in revenue last year.

• Basketball followed suit this year.

A wave of long-standing futures bets paying out, such as futures placed on the New York Knicks, helps explain the particularly steep revenue drops seen in markets like New York.