Montana Sports Betting Revenue 2025 - Montana Comprehensive Market Analysis

Montana Sports Betting Overview

Montana, known as the Treasure State, has a population of about 1.1 million as of 2024. The state has had legal sports betting in operation since 2020 but has taken a relatively restrictive approach to developing the industry.

Sports betting in Montana was legalized on May 3, 2019, when Governor Steve Bullock signed House Bill 725 into law. This law gave the Montana Lottery control over sports wagering. The state officially launched sports betting in March 2020 with the introduction of Sports Bet Montana, the only legal sportsbook in the state.

Unlike states with multiple online sportsbook operators, Montana’s model puts all sports betting under the state lottery. Sports Bet Montana is available through kiosks at licensed locations like bars, restaurants, and casinos. There is a mobile app, but you can only place a bet when physically at one of these locations, as the app uses geolocation to enforce this.

Montana’s sports betting rules require you to be at least 18 years old, younger than many other states’ 21-year-old minimums. The state taxes operators 8.5% on adjusted gross sports betting revenue.

Interested in how different operators compare? Read our in-depth reviews of businesses in Canada.

Annual Sports Betting Growth in Montana

The Montana Lottery publishes detailed annual reports with all data on Handle, Revenue, Tax Revenue, and Hold %.

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Monthly Sports Betting Growth in Montana

2024

Data is pulled directly from Montana Lottery's detailed monthly reports.

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Montana's Sports Betting Revenue

Since March 2020, Montana’s sports betting market has been growing steadily under the state-run model.

The betting handle from Montana bettors went from $18.77 million in 2020 to $66.47 million in 2024, with increasing interest in legal sports betting. Gross Gaming Revenue (GGR) followed the same trend, from $2.37 million in 2020 to a high of $8.45 million in 2023, then down to $7.19 million in 2024.

Montana’s tax revenue has also increased over the years. In 2020, sports betting brought in $201,319.36 in tax revenue. That rose to $717,961.94 in 2023 and declined to $610,885.99 in 2024.

2024 Year-to-Date
In 2024, Montana’s sports betting market continued to chug along despite its smaller size. Bettors staked a total of $66.47 million, generating $7.19 million in gross gaming revenue (GGR) and contributing $610,885.99 in tax receipts. As you’d expect, the biggest spikes occurred around the NFL playoffs and March Madness, with quieter stretches during the summer months.

Q1 2025
Montana opened 2025 with steady activity across January, February, and March:

Total handle: $5,750,903 + $3,743,225 + $6,200,119 = $15,694,247
Total GGR: $1,289,383 + $185,245 + $685,025 = $2,159,653
Effective hold rate: 2,159,653 ÷ 15,694,247 ≈ 13.8%
Total tax revenue: $109,597.56 + $15,745.83 + $58,227.13 = $183,570.52

Month by month:

Month	Handle	Gross Gaming Revenue (GGR)	Hold %	Tax Collected
January	$5,750,000.00	$1,290,000.00	22.42%	$109,597.56
February	$3,740,000.00	$185,245.00	4.95%	$15,745.83
March	$6,200,000.00	$685,025.00	11.05%	$58,227.13
April	$6,200,000.00	$759,848.00	12.24%	$64,587.08
May	$4,981,327.00	$763,060.00	15.32%	$64,860.10

Historical Growth and Future Outlook

Montana’s sports betting has grown under the Sports Bet Montana platform, but its state-run, retail-only model limits competition compared to more open markets like New York or New Jersey.

Going forward, Montana’s growth will depend on user engagement and potentially more betting options. While the market is smaller than states with multiple sportsbooks, the steady year-over-year growth suggests there’s still revenue to be had within the current framework.

Latest Updates in the Montana's Sports Betting Sector

January 2025 - Montana State reaching the FCS National Championship Game drives betting surge in the state. (KTVH, 2025)
October 2024 - Montana Lottery took a rare loss on sports betting in the month of October as payouts to winning bettors ($7.62 million in winning bets) exceeded total wagers ($7.59). (CDC Gaming, 2024)
February 1, 2024 - Two Montana tribes, the Assiniboine and Sioux Tribes of the Fort Peck Indian Reservation, are given approval to offer retail sports betting at Silver Wolf Casino. (SBC Americas, 2024)

Future Outlook for Montana Legal Sports Betting

Montana’s sports betting market under Sports Bet Montana has been steady even if it's relatively modest in size, with annual handle and revenue up year-over-year.

While the state’s model is different from more open-market states, with a population far below the national average, Montana is also incentivized to do things a little differently.

Here are some key factors that will shape the future of sports betting in Montana:

Steady Year-Over-Year Growth: Montana has reported an increasing total handle, from $18.77 million in 2020 to $66.47 million in 2024. Despite being a single-operator state, the growing interest in sports betting indicates the heavily regulated market isn't hamstringing consumers too much.
Retail-Only Market: Unlike states with mobile betting, Montana’s system is all about in-person wagering at licensed kiosks in bars, restaurants and casinos. This keeps the betting activity tied to local businesses and supports the state’s economy.
Tax to Public Services: Montana’s 8.5% tax rate on gross gaming revenue has generated over $2.68 million for state programs since 2020. That is a relatively low rate on gross revenue that could be revised in the years to come.
Seasonal Fluctuations: Like all sports betting markets, Montana experiences seasonal swings, with more betting during big events like the NFL playoffs, Super Bowl and March Madness. Since there are no pro sports teams in the state, there are fewer tentpole events that drive massive increases in wagering.
Limited Expansion: As a state-controlled market, Montana doesn’t allow online sports betting with private sportsbook operators. While that model provides sturdy regulatory oversight, it also means no competition and potentially limited future growth compared to open-license states.

Montana Snapshot

Key Aspect	Details
Population	Approximately 1.1 million residents as of 2024. (World Population Review, 2024)
Political Affiliation	Montana has the Republican party controlling the governorship and both legislative chambers. The state voted Republican in the 2024 presidential election. (270towin.com , 2024)
Year Sports Betting Legalized	Sports betting became legal in the state of Montana on March 11, 2020. (USA Today, 2020)
Number of Sportsbooks Operating	There are no online sportsbooks in the state. Instead, residents and visitors to the state can place wagers at licensed lottery retailers. An app called 'Sports Bet Montana' allows users to prepare wagers and manage their accounts, but all bets must be placed in the vicinity of a physical Sports Bet Montana location.
Gross Gaming Revenue (GGR) 2024	$7,186,894.00
Sports Betting Handle, Q1 2025	$15.6 Million
Professional Sports Teams	Montana does not have any major professional sports teams. The most popular NCAA program is the Montana Grizzlies.

FAQs

General Questions

When did Montana legalize sports betting?

Montana legalized sports betting on May 3, 2019, with the passage of House Bill 725.

How can you place a sports bet in Montana?

Bets can only be placed in person at licensed kiosks in bars, restaurants, and casinos or via the Sports Bet Montana app while physically at a licensed location.

Who regulates sports betting in Montana?

The Montana Department of Justice’s Gambling Control Division oversees and enforces sports betting regulations.

How much tax revenue has Montana collected from sports betting?

Since launching in 2020, Montana has generated approximately $2.68 million in tax revenue from sports betting.

Does Montana allow online sportsbooks like FanDuel or DraftKings?

No, Montana operates a state-run model where Sports Bet Montana is the only legal sportsbook, and all bets must be placed at designated retail locations.