Sporttrade Exits US Sportsbook Market as State Revenues Shift

Sporttrade Exits US Sportsbook Market as State Revenues Show Diverging Trends – Prediction Markets Gain Attention While iGaming Growth Continues

Key Takeaways

• Sporttrade will cease US sportsbook operations by 25 June, becoming the 25th brand to exit the market.
• Pennsylvania gambling revenue rose 7 percent to $595.0 million in April, with sports betting up 39 percent.
• New Jersey reported 12 percent growth in total gambling revenue to $600.8 million, with iGaming at $263.1 million.
• Delaware, West Virginia, and Connecticut recorded strong iGaming growth, while several states saw declining sports betting handle.
• Massachusetts online wagers fell 1 percent, but revenue increased 23 percent to $82.6 million.

Sporttrade Leaves the US Sportsbook Sector and Shifts to Prediction Markets

Sporttrade has become the 25th brand to withdraw from the US sports betting sector. The exchange will end access to its sportsbook in the five states where it operated no later than 25 June. The company intends to pivot toward prediction markets.

In New Jersey, Iowa, and Arizona, where brand-level data is available, Sporttrade reported a combined gross revenue loss of $29,059 in 2024. This shifted to a gross win of $1.7 million in 2025. In the first quarter of 2026, combined revenue in those states reached $124,005.

In Virginia, Sporttrade accounted for just 0.1 percent of the state’s online sports betting market in the first quarter. The company’s exit reduces the number of active sportsbook brands and highlights ongoing competitive pressure in regulated US markets.

Pennsylvania Reports Broad-Based Revenue Growth in April

Pennsylvania’s total gambling revenue increased 7 percent year-on-year to $595.0 million in April. Sports betting revenue rose by 39 percent to $59.0 million, while iGaming revenue climbed 8 percent to $245.8 million.

Land-based gaming showed more moderate growth. Overall land-based revenue increased 1 percent to $285.4 million. Slot machine revenue rose 2 percent to $206.7 million, offsetting a 2 percent decline in table games revenue to $78.7 million.

Video gaming terminals generated $3.7 million, up 5 percent. Fantasy contests declined 6 percent to $1.2 million. The data indicates that digital verticals continue to contribute significantly to overall market expansion.

New Jersey Outpaces Pennsylvania in Total Monthly Revenue

New Jersey recorded combined gambling revenue of $600.8 million in April, up 12 percent year-on-year. This placed the state ahead of Pennsylvania in total monthly revenue.

Sports betting revenue rose 13 percent to $102.1 million. iGaming revenue increased 12 percent to $263.1 million. Land-based casinos reported gaming revenue of $235.6 million, up 12 percent. Table gaming revenue jumped 36 percent to $66.2 million, while slot revenue grew 4 percent to $169.4 million.

The figures show parallel growth across online and retail segments, with iGaming representing a substantial share of total revenue.

Mixed Sports Betting Handle Trends Across States

Several states reported declines in sports betting handle despite revenue growth.

Massachusetts posted $670.7 million in online sports wagers in April, down 1 percent year-on-year. DraftKings reported a 2 percent decline in wagers to $335.1 million, FanDuel fell 10 percent to $167.7 million, and BetMGM dropped 9 percent to $50.0 million. However, monthly online betting revenue rose 23 percent to $82.6 million.

Louisiana’s sports wagers fell 2 percent to $338.0 million, while net proceeds increased 18 percent to $45.5 million. Maryland recorded a 12 percent rise in handle to $574.2 million and a 7 percent increase in gross win to $63.1 million.

Mississippi experienced a 25 percent drop in wagers to $18.8 million, with adjusted gross win down 23 percent to $2.9 million. In contrast, Vermont saw handle rise 8 percent to $17.5 million and gross win increase 35 percent to $2.2 million.

iGaming Growth Drives Records in Delaware, West Virginia, and Connecticut

Delaware reported record combined sports betting and iGaming wagers of $386.0 million in April, up 42 percent. iGaming wagers rose 46 percent to $368.5 million, while sports betting slipped 4 percent to $17.5 million. Combined net proceeds increased 28 percent to $12.4 million.

West Virginia posted record combined wagering of $1.09 billion for the five weeks to 2 May, up 22 percent. iGaming wagering increased 24 percent to $1.05 billion, while sports betting declined 12 percent to $38.5 million. Total revenue reached a record $50.0 million.

Connecticut reported combined wagering of $1.94 billion in April, up 8 percent. iGaming wagering rose 9 percent to $1.76 billion, offsetting a 2 percent decline in sports betting handle. Gross win increased 11 percent to $88.5 million.

These figures underline the growing importance of online casino products in several regulated markets.

Land-Based and Lottery Segments Show Varied Performance

In Virginia, five land-based casinos generated $98.9 million in April revenue, up 26 percent. Slot revenue increased 26 percent to $74.9 million and table revenue rose 25 percent to $24.0 million.

Ohio’s video lottery terminal revenue grew 7 percent to $128.2 million, with 10,074 machines generating an average of $424 per day.

Kansas’ four land-based casinos reported a 2 percent decline in revenue to $36.0 million. Florida’s commercial gaming operators saw first quarter revenue reach $248.8 million, following a 3 percent decline in March. In New Hampshire, combined gaming revenue rose 21 percent in March to $44.9 million, driven by video lottery terminals.

Corporate Results Reflect Diverging Regional Performance

Ainsworth Game Technology expects first half 2026 revenue of A$116 million, representing a 24 percent decline, with North America cited as the primary contributor to the drop.

Bally’s Corporation reported a 28 percent increase in consolidated first quarter revenue to $755.7 million. Revenue from its Casinos and Resorts segment rose 8 percent to $379.7 million. Bally’s Intralot recorded revenue of €268.1 million for the first quarter, up 180.5 percent.

Our Assessment

April data across US states shows continued expansion of iGaming in multiple jurisdictions, often offsetting weaker or declining sports betting handle. New Jersey and Pennsylvania remain leading markets by total revenue, with digital segments contributing significantly. Sporttrade’s withdrawal reduces the number of active sportsbook brands and highlights ongoing consolidation in the competitive US sports betting sector, while prediction markets attract increased attention from operators shifting focus.