Most States' Sports Betting Revenue Misses Estimates
PROVIDENCE, R.I. (AP) — An Associated Press analysis shows that the tax revenue from sports betting has so far failed to hit projections in most of the states that legalized wagering after the Supreme Court cleared the way last year.
Only New Jersey and Delaware are bringing in the money they expected. Mississippi, Rhode Island, Pennsylvania and West Virginia are falling short.
The reasons vary by state, from slower-than-expected rollouts and the unavailability in some places of mobile betting, to an all-too-predictable Super Bowl.
When the Patriots won the Super Bowl again — and covered the spread, too — all of New England was delirious, with the possible exception of Rhode Island's tax collectors.
The state's sportsbooks lost $2.35 million when they paid out on the winning bets. That, in turn, cut into Rhode Island's tax revenue.