$150 Billion of Illegal Sports Betting

Sports betting is currently fully legal in 13 states and Washington D.C.: Oregon, Nevada, New Mexico, Iowa, Arkansas, Indiana, Mississippi, West Virginia, Pennsylvania, New York, New Jersey, Delaware, and Rhode Island.

Sports betting was federally banned in 1992 (except in four states), and the ban was lifted May 2018.

Less than a year after the lift of the ban, more then $10 billion was legally wagered on sports. That’s twice as much as the annual legal wagering amount prior to the lift.

Prior to the lift, about $150 billion was illegally wagered on sports in America.

The global sports betting has a market capitalization at $250 billion according to Statista. From 2009 – 2016, in the United States alone, the market size doubled from $20 billion to $40 billion.

Over 50% of Americans admit to placing a bet on sports at least once in their life.

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Categories: News, SBU 101, Sports Betting U

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