Montana Sports Betting
Revenue & Handle
Sports Bet Montana publishes monthly handle, revenue, and hold figures through Montana Lottery Commission reports. Here is the data — plus what it tells us about how the state's monopoly model performs compared to commercial markets.
How Big Is Montana Sports Betting?
Sports Bet Montana launched on March 9, 2020 — five days before COVID-19 lockdowns paused the major US sports calendars. After a slow start, the market built steadily and reached a new monthly record of $7.86 million in handle with a 12.08% hold in January 2026.
Compared to commercial markets, Montana is small in absolute terms. The state's 1.13M population and retail-only model mean total annual handle has historically stayed well under $100M. But the hold percentage is unusually high — typically 10–13% versus a 7–9% national average — meaning the state captures a larger share of each dollar wagered.
Montana retains roughly 8.5% of adjusted gross revenue after Intralot's technology fee. Because there are no commercial operators competing for promotional spend, the net economics are simple: the lottery wins, players pay a slightly worse line.
Sports Bet Montana Monthly Handle
Verified data points from publicly disclosed Montana Lottery board reports and industry aggregators. Where a specific month's revenue or hold has not been verifiably published, the cell is marked '—' rather than estimated.
| Month | Handle | Revenue | Hold | Note |
|---|---|---|---|---|
| Jan 2026 | $7.86M | $950K | 12.08% | |
| Jan 2021 | $5.80M | — | — | Pre-2026 monthly record |
| Jun 2022 | $2.91M | $275K | 9.40% | |
| May 2022 | $3.24M | $382K | 11.80% | |
| Apr 2022 | $3.24M | $389K | 12.00% |
Sources: Montana Lottery Commission monthly reports; Legal Sports Report and SportsHandle aggregations. All-time handle through June 2022 was approximately $88M. This page is refreshed as new monthly disclosures are released.
What the Data Tells Us
Higher Hold Than Commercial Markets
Sports Bet Montana routinely posts hold percentages between 10–13%. National averages for commercial sportsbooks are closer to 7–9%. The combination of retail-only volume and slightly less competitive odds means the state captures a larger share of each dollar wagered.
Seasonal Pattern Driven by NFL
Like every US betting market, Montana's monthly handle peaks during NFL season (September–February) and dips in summer. The peak-to-trough swing is roughly 2x in Montana — less dramatic than commercial-only markets because retail bettors are stickier.
Lower Total Volume per Capita Than Average
Montana's 1.13M population and retail-only model means total annual handle is much lower than commercial markets. The state typically reports well under $100M in annual handle — compared to billion-dollar months in New York or Illinois.
State Captures All Net Revenue
Because the operator is the state lottery, all net revenue (after Intralot's technology fee and prize payouts) flows to Montana. There is no operator margin or marketing spend in the equation — a fundamentally different economics than commercial markets.
Montana vs Neighbouring States
| State | Model | Typical Monthly Handle | Hold |
|---|---|---|---|
| Montana | Lottery monopoly, retail-only | $3–8M | 10–13% |
| Wyoming | Mobile-only, commercial | $15–25M | ~9% |
| Colorado | Commercial, full mobile + retail | $400–600M | ~8% |
| North Dakota | No legal sports betting | — | — |
| South Dakota | Retail-only (Deadwood casinos) | ~$1M | ~10% |
Wyoming and Colorado figures from state regulator monthly reports. The dramatic volume gap reflects different population sizes and the absence of a true mobile product in Montana.
Montana Revenue & Handle FAQ
How much does Montana make from sports betting?
Montana retains roughly 8.5% of adjusted gross revenue from sports betting after Intralot's technology fee and operating costs. With monthly handle around $3–8M and hold near 11%, this translates to roughly $30,000–$80,000 in monthly state revenue — modest compared to commercial markets but pure margin since there are no operator licensing fees to share.
What is the highest monthly handle Montana has reported?
January 2026, with $7.86 million in monthly handle and a 12.08% hold. Before that, the long-standing monthly record was January 2021 at roughly $5.8M.
Why is Montana's hold percentage so high?
Two reasons: retail betting is naturally higher-hold than mobile (less sophisticated bettors, no easy line shopping), and Sports Bet Montana's odds are typically a tick less competitive than commercial books. The result is a sustained 10–13% hold versus 7–9% nationally.
Where can I find official Montana sports betting data?
The Montana Lottery publishes monthly handle and revenue figures in its quarterly board reports. Industry trackers like Legal Sports Report and SportsHandle aggregate these into convenient tables.
How does Montana compare to neighbouring states?
Wyoming, Colorado, North Dakota, and South Dakota all have legal sports betting but with very different structures. Colorado runs a commercial model with monthly handle near $500M. Wyoming is mobile-only with around $20M monthly. Montana's retail-only monopoly produces lower volume but higher hold per dollar wagered.