Sportsbooks in South Dakota saw more money come in during October 2023 than in any prior month. However, the portion of that money they won from bettors fell short of setting a new record for the state.
South Dakota’s casinos otherwise had an unremarkable October when it comes to other forms of gambling. However, even an unremarkable month keeps the flow of tax dollars to the state moving
South Dakota sportsbooks reported unprecedented gambling month
For the first time in South Dakota history, people gambled over $1 million on sporting events during a single month. For October 2023, the seven brick-and-mortar casinos accepting wagers from eligible bettors in person reported just over $1 million in bets.
Naturally, that represents a new single-month record for South Dakota. The previous high for dollars gambled on sports in the state was $979,694 from September 2023. At the same time, October 2023 can’t lay claim to being the most lucrative month for South Dakota’s sports betting industry.
In September 2022, sportsbooks won $211,612 from bettors. For October 2023, sportsbooks’ win came to $174,660 according to the South Dakota Dept. of Revenue’s gaming statistics. Thus, October 2023 now represents the second-highest revenue figure for a single month for SD sportsbooks.
October 2023 also wasn’t a gold standard for casinos in South Dakota for other forms of gaming. The month did hold its own in a historical context, though.
Casino slots and table games keep pace in October
As is normally the case, the vast majority (87.8%) of the over $12.9 million in gambling revenue in South Dakota for October 2023 came from slot play. That $12.9 million in gaming revenue translated to just over $1.1 million in taxes for South Dakota.
Both of those figures are a marginal increase from the same month in 2022. Through the first four months of the current fiscal year, total gaming revenue ($56.3 million) is also up marginally from the same period in FY22-23.
Overall, gambling continues to be a dependable source of revenue for South Dakota. While it’s by no means a significant source, more months like October 2023 for the state’s sportsbooks could push it toward that distinction.