Two of the biggest events occur at the outset of the year-Americans wagered an estimated $16 billion on this year’s Super Bowl and $15.5 billion on the recently concluded NCAA men’s college basketball tournament, according to the trade group.įederal regulators don’t release much gambling data tied to sporting events, but the IRS and state agencies collect a share of this booming market from both business taxes on the industry and individual tax filers who gambled.

Next year is on track to be even bigger.Ĭommercial sports betting notched its first $100 billion in annual revenue though January 2023, and Ohio’s new market set a single-month state record, according to the latest tracking from the American Gaming Association. This tax filing season is on track to be the biggest yet for sports betting.