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— The Lock Talk Team

📊 Sports Betting News – May 5, 2025

1. U.S. Sports Betting Handle Surpasses Half a Trillion Dollars
The U.S. sports betting market has officially crossed the $500 billion handle mark. This milestone reflects the explosive growth in betting volume, driven by the rise of parlays and improved pricing strategies by sportsbooks. The national hold rate has jumped from 6.78% in 2020 to over 9% across 2023–2024, signaling stronger margins for operators.
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2. 📈 New York Sports Betting Ends April with Record Revenue
New York wrapped up April with a strong week: $57 million in gross gaming revenue reported across the state’s nine sportsbooks. That’s up $30 million from the week prior. FanDuel led the way with a $197.6M handle and $24.1M in gross revenue, with DraftKings not far behind.
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3. 🚨 NCAA Hits Iowa State Staffers with Betting Penalties
The NCAA has issued show-cause penalties to five Iowa State football staffers after uncovering over 6,200 illegal sports bets totaling $100,000—including wagers on the school's own basketball teams. This raises ongoing concerns about regulation and integrity in college athletics.
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