The sports wagering handle nationwide continues to spiral higher at a near-dizzying pace, with the national amount wagered in the post-PASPA era surpassing $200 billion Thursday. That came after the Colorado Department of Revenue posted January handle totaling more than $547 million.
If you blinked, you almost missed the $50 billion wagered across the country from late August through the new year after it took eight or so months for bettors to drop that same amount to get the post-PASPA total to $150 billion. The staying power of mobile wagering in New York — where billion-dollar handles are now commonplace — bundled with the popularity of NFL wagering, Illinois’ ascension to rarified air, and the smashing debut of Ohio'meant the timeline compressed noticeably to get to $200 billion.
The expectation is the pace will slow somewhat for the next $50 billion as this month’s NCAA Tournament signifies the unofficial end of the busy wagering season. Massachusetts is one week away from launching mobile wagering, however, which could help make March an all-time monthly record for handle.
Arizona, Illinois, and Wyoming have yet to file January reports, but it’s possible the first month of 2023 will end up showing a new high of approximately $11.5 billion for March to try to surpass.