September 2017 Media Coverage
Sports betting legalization: Where do we stand right now?
Published on ESPN, September 14, 2017
Most estimates are in the hundreds of billions of dollars, but no one knows for sure how much money Americans bet on sports every year.
Whatever the amount, it's enough to fuel the massive offshore bookmaking industry that consists of hundreds of online sportsbooks. It's also large enough to get the attention of cash-strapped states and ratings-dependent sports leagues that now seem more accepting of betting.
The American Gaming Association estimates $150 billion is bet annually on sports by Americans. Professional gamblers say that's too high. Professional bookmakers say it's too low. The $150 billion mark must be a good line.
Respected gaming industry trade publication Gambling Compliance released a report this week that examines the gross gaming revenue (amount the sportsbooks win) that could be generated if legal sports betting were to expand in the U.S.
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