This guide shows how to use publicly available state regulator reports to determine which of the most popular betting apps paid out most in a chosen period. It focuses on a data-first, repeatable approach that converts handle and revenue into operator hold and then into payout rates. You will learn which regulator reports publish the necessary fields, how to include promotional credits when available, and a step-by-step methodology for producing transparent, defensible comparisons. The goal is to help experienced bettors and analysts move from marketing claims to verifiable, source-backed conclusions.

Payout rate equals 100% minus operator hold, and regulator reports provide the raw fields to calculate it.

Including promotional credits is essential; Virginia and Ohio reports let analysts compute promotion-adjusted payout rates.

Separate sport-level results and use multi-month averages to avoid misleading single-month rankings.

What 'most popular betting apps' means for payouts: hold, payout rate, and why there is no single 'highest paying' app

When readers ask which of the most popular betting apps pays the most, the only reliable way to answer is with regulator-reported operator figures, because payout rate is conceptually tied to a book's hold. Operator hold is the share of handle the operator keeps, and a bettor's payout rate is 100% minus that hold. This relationship follows the way regulators define gross sports wagering revenue as handle minus payouts to bettors, so comparisons built on those public fields give a consistent baseline for estimating app-level returns Massachusetts Gaming Commission definitions.

National industry trends confirm that sports betting grew materially in recent years, which matters for context but not for a single payout figure across apps. Aggregate growth changes volumes and promotional practices, but it does not create a universal payout rate because each operator, market and sport can set different margins and promotions; using regulator data is how you avoid misleading, headline-driven claims about a permanent "highest paying" app American Gaming Association state overview.

To make this practical, imagine an operator that reports $100 million in handle and $7 million in revenue for a month. The operator hold would be 7 million divided by 100 million, or 7 percent, so the rough payout rate would be 93 percent. That simple conversion is the starting point for any apples-to-apples comparison, but it is only a starting point because promotions and sport mix change the effective return to bettors.

Explore structured challenge pathways with FundedPlays

Use the step-by-step checks below to convert public regulator fields into a clear, promotion-adjusted payout estimate before deciding if an app is favorable for your preferred bets.

View FundedPlays Challenges

Because the term "most popular" often refers to user counts or brand recognition, remember popularity does not equal highest payout; popularity can reflect heavy marketing or large promotional budgets rather than consistently lower holds. The rest of this article shows how to use state reports to move from marketing claims to defensible, repeatable payout estimates.

How operator hold determines what bettors actually receive

Start with two simple formulas: hold = revenue / handle, and payout rate = 100% - hold. If a state report lists an operator with $50 million in handle and $3 million in revenue, the hold is 3 divided by 50, or 6 percent, and the nominal payout rate is 94 percent. Those formulas let you translate the reported fields into a direct expectation about how much of wagered money returned to bettors in aggregate Massachusetts Gaming Commission definitions.

Hold is not constant across all bet types. Moneyline, spread, totals, parlays and in-play markets can have different margins. A single operator's consolidated hold blends those differences into one number, but the blended figure depends on the operator's product mix and the season. That means two apps with the same consolidated hold can still pay differently for the exact bets you prefer.

Promotions further change effective returns. Free bets, site credits and bonus bet mechanics reduce the net payout a bettor realizes even if the raw hold looks low. When regulators publish promotional credits, include those credits as an adjustment so your payout estimate reflects both cash payouts and the value returned through promotions.

Which state regulator reports let you calculate operator holds for the most popular betting apps

Some states publish operator-level handle and revenue data that let you compute holds directly. Arizona's Event Wagering Revenue Reports publish operator-level handle and revenue that are suitable for direct hold calculation and for observing month-to-month variation across operators Arizona Department of Gaming event reports.

Virginia's Sports Betting Activity Reports go further by publishing operator-level handle, adjusted gross revenue and promotional spend, which allows a cleaner estimate of promotion-adjusted payout when you include the reported credits Virginia Lottery reports.

How can I tell which betting apps paid out the most in a given month?

Use state regulator reports that publish operator-level handle and revenue, adjust for promotional credits where available, compute raw and promotion-adjusted holds, and compare results by sport and over multi-month averages.

Ohio's monthly Sports Gaming Revenue Reports disclose proprietor-level handle, revenue and promotional credits, so you can standardize comparisons across operators for the same month or quarter when using Ohio data as a source Ohio Casino Control Commission reports.

Colorado's reports break out handle and revenue by sport, which is useful when you want to control for sport mix because holds can differ meaningfully between football, basketball, and niche sports Colorado Division of Gaming reports.

How to adjust reported figures for promotions and why that matters

Promotions commonly show up as promotional credits, bonus bet liabilities or adjusted revenue line items. These credits represent value that operators return to players but not always as direct cash payouts, so failing to include them biases any apparent payout advantage in favor of heavily promoting operators. When a regulator discloses promotional credits, subtract them from the reported revenue or include them as an add-back to payouts when computing promotion-adjusted holds; Virginia's and Ohio's reports are explicit examples where those adjustments are possible Virginia Lottery reports.

For a conservative promotion-adjusted payout estimate, treat reported promotional credits as part of total returns to bettors. Concretely, compute adjusted payouts = payouts reported plus promotional credits, then derive promotion-adjusted hold = 1 minus (adjusted payouts / handle). If a state does not report promotions, mark the comparison as partial rather than assuming zero promotional activity.

When promotions are not reported, the responsible choice is to flag the gap and avoid definitive "highest paying" rankings. Use secondary signals like operator disclosures and historical promotion behavior to annotate your findings, but do not convert those signals into hard numerical adjustments unless a regulator or operator provides verified values.

A standardized methodology to rank the most popular betting apps by payout in 2026

To produce defensible rankings among the most popular betting apps, follow a standard sequence. First, pick a month or months that are identical for all operators and states you include to avoid seasonality bias. Second, collect operator-level handle, revenue and promotional credits where available. Third, compute raw holds and then promotion-adjusted holds. Fourth, separate results by sport or provide sport-level breakdowns when reports support it Arizona Department of Gaming event reports.

Numerical steps you can follow in a spreadsheet: 1) For each operator and month, record Handle, Reported Revenue, Promotional Credits. 2) Raw Hold = Reported Revenue / Handle. 3) Promotion-Adjusted Revenue = Reported Revenue + Promotional Credits. 4) Promotion-Adjusted Hold = Promotion-Adjusted Revenue / Handle. 5) Payout Rate = 100% - Hold. Be explicit in your reporting which figure you display and whether promotions were included.

Funded Plays Challenges

View FundedPlays Challenges

When you publish results, include raw holds, promotion-adjusted holds and a completeness flag indicating whether the state report included promotional credits or operator-level detail. That transparency helps readers interpret rankings and prevents overstating confidence when essential fields are missing.

Why results should be separated by sport and month

Different sports and events drive different betting margins. For example, high-volume markets like major professional football will often have tighter markets than niche markets or props that are harder to price, so an operator's overall hold will change depending on its sports mix. Colorado's sport-level reporting is a clear resource for observing those differences because it breaks out handle and revenue by sport Colorado Division of Gaming reports.

Minimalist 2D vector of side by side football and basketball icons with visual horizontal percentage bars showing differing sport holds for most popular betting apps on a dark Funded Plays style background

Seasonal events such as a major tournament or playoff series can temporarily shift bet mix and operator pricing strategies. Comparing operators across months that include different seasonal peaks without controlling for sport mix can produce misleading rankings. To avoid this, present sport-specific holds alongside the aggregated hold or use a weighted approach that matches the sport distribution you or your audience actually bet on.

Data gaps and limitations: when comparisons are partial or inconclusive

Not all regulators publish the same fields. Common gaps include missing operator-level detail, absent promotional credit disclosures, or sport-level breakdowns. When those fields are missing, flag comparisons as partial and avoid firm statements that an app is definitively the highest paying. Transparent reporting of coverage is essential to maintain credibility with readers.

flag incomplete state reports and guide manual review

State
Month
Operator present
Handle present
Revenue present
Promotions present

mark incomplete rows before averaging

Practical workarounds include limiting your comparison set to states that publish operator-level data, using multi-state averages only when fields are consistent, or presenting a conditional ranking that explicitly states which states and months were included. Conservative assumptions are preferable to speculative adjustments when data are absent.

Concrete example: calculating promotion-adjusted holds using Virginia and Ohio reports

Use Virginia or Ohio as a worked example because both publish the fields you need. In Virginia, capture the operator, month, handle, adjusted gross revenue and promotional spend. In Ohio, capture proprietor, handle, revenue and promotional credits. The same arithmetic applies in both cases: Promotion-Adjusted Revenue = Reported Revenue + Promotional Credits, Promotion-Adjusted Hold = Promotion-Adjusted Revenue / Handle, Promotion-Adjusted Payout = 100% - Promotion-Adjusted Hold Virginia Lottery reports.

Numbered spreadsheet guide to replicate: 1) Column A: Operator. 2) Column B: Month. 3) Column C: Handle. 4) Column D: Reported Revenue. 5) Column E: Promotional Credits. 6) Column F: Raw Hold formula = D / C. 7) Column G: Promotion-Adjusted Hold formula = (D + E) / C. 8) Column H: Promotion-Adjusted Payout formula = 1 - G. Label raw and adjusted columns clearly and include a column that links to the original report so readers can audit your source material Ohio Casino Control Commission reports.

When reporting results, show both the raw hold and the promotion-adjusted hold side by side and note which figure you consider primary for reader decision-making. If promotions materially change the ordering among apps, highlight that fact and explain how much the ranking shifted after adjustment.

Case study: month-to-month variation in operator holds using Arizona data

Arizona's event wagering reports list operator-level handle and revenue monthly, which lets you track monthly swings in hold for each operator. Those monthly lists make it straightforward to compute a rolling average and to identify when a single large event or a change in marketing behavior influenced a month's hold for an operator Arizona Department of Gaming event reports.

Month-to-month volatility can be caused by concentrated betting on a single sport, a surge in in-play betting, or a change in promotional intensity. To communicate stable differences between operators, present multi-month averages such as a three-month or six-month rolling average rather than relying on single-month snapshots that can exaggerate short-term swings.

How to read a 'highest paying betting app' ranking responsibly

When you see a published ranking, check the methodology by asking which months were compared, whether promotions were included, which sports were considered, and what states were in scope. A credible ranking will show raw holds, promotion-adjusted holds, and a completeness statement for each operator's coverage American Gaming Association state overview and you can cross-check compiled trackers like the Legal Sports Report revenue tracker Legal Sports Report.

Distinguish between raw hold and promotion-adjusted payout. Raw hold reflects cash payouts, while promotion-adjusted payout attempts to capture the full value returned to bettors, including credits. Depending on your betting style, you may prefer one metric over the other, but a transparent report presents both so readers can decide which aligns with their play.

Decision checklist: pick an app based on payout, promotions, sports mix, and rules

Five checks to run before you install or fund an account: 1) Verify whether the state reports include the operator and the fields you need. 2) Compare promotion-adjusted holds, not just raw holds. 3) Inspect sport-level holds if you bet specific sports. 4) Read bonus and withdrawal terms to understand how promotional credits convert to withdrawable value. 5) Confirm the platform's responsible-play and account rules so you understand restrictions that could affect realized returns Virginia Lottery reports.

Weigh promotions against base hold carefully: a large promotional budget may look attractive but could carry restrictive terms that reduce their practical value. Prefer platforms whose public reporting you can verify through regulator documents and where the promotion mechanics are clear in the terms.

Common mistakes to avoid when using payout rankings

Avoid trusting rankings that omit promotional credits, because unadjusted holds can mislead readers about real value. Also avoid basing decisions on a single month or on aggregated numbers that hide sport-level differences; both mistakes can create a false sense of advantage for one app over another Colorado Division of Gaming reports.

Do not confuse popularity with payout generosity. User numbers and marketing spend can make an app feel dominant without making it more generous to bettors. Always check methodology and source data before accepting a "highest paying" claim as actionable for your bets.

How to track changes over time and build a simple monitoring spreadsheet

Fields to capture each month: operator name, month, handle, reported revenue, promotional credits, sport breakdowns where available, and a completeness flag noting missing fields. Use formulas to compute Raw Hold = Reported Revenue / Handle and Promotion-Adjusted Hold = (Reported Revenue + Promotional Credits) / Handle, then compute a three-month rolling average for each operator to smooth volatility Arizona Department of Gaming event reports.

Add a column that notes whether a state report included promotions or sport-level data so you can filter incomplete rows. When comparing operators across states, restrict the set to months and states with consistent fields or present side-by-side conditional rankings that explicitly describe coverage differences.

Conclusion: realistic expectations, transparency, and responsible use of rankings

Payout equals 100% minus hold, and the best way to compare the most popular betting apps is by using regulator-reported handle, revenue and promotional credits where available. No single app is always the highest paying because holds vary by operator, sport and month, and promotions materially affect effective returns Massachusetts Gaming Commission definitions.

Use the standardized methodology described here: pick identical months, include promotional credits, separate results by sport, and flag incomplete data. Present raw and promotion-adjusted holds with clear sourcing so readers can reproduce and trust your findings. Finally, treat rankings as informative inputs for your own decision-making rather than guarantees of future returns, and play responsibly.

How is 'payout rate' defined in regulator reports?

Payout rate is 100% minus operator hold, where hold equals reported revenue divided by handle according to regulator definitions.

Do promotions change which app pays the most?

Yes. Promotional credits and bonus bets affect effective returns and should be included when available to compute promotion-adjusted holds.

Which state reports are best for apples-to-apples comparisons?

States that publish operator-level handle, revenue and promotional credits, such as Arizona, Virginia, Ohio and Colorado, are most useful for direct comparisons.

Applying this methodology lets you create conditional, auditable rankings rather than relying on headline claims. Where data are incomplete, be explicit about limits and prefer conservative statements. If you want to replicate the calculations, capture the exact fields from regulator reports, compute raw and promotion-adjusted holds, and present both figures so readers can judge which metric matters most for their betting style.