Black market for sports betting valued at USD 50 or USD 60B

More than 30 US states likely to legalize sports betting if ban is lifted

The American Gaming Association says Americans wager USD 150B on sports. However, Eilers estimates that handle for offshore books to be around USD 50 or USD 60B.
Reading time 48 seg
According to recent research conducted by Eilers & Krejcik Gaming, more than 30 US states are likely to green light sports betting in some way by 2023.

Although it is difficult to predict how the sports betting market will evolve in the US, it seems certain to become a reality in the coming years. The New Jersey sports betting case has drawn the attention of the industry, as a win for New Jersey would pave the way for other states looking to legalize and regulate the pastime. The Eilers report notes that more than three-fifths of states in the US would take part, if given the green light.

From the report:

Our base case for the U.S. regulated sports betting market by 2023 calls for 32 states to offer regulated sports betting, with varying approaches to availability and the land-based / mobile question, resulting in a market worth $6.03 billion in annual revenue.

If every state legalized sports wagering – including online betting – annual revenue could rise to nearly USD 16B, in a best case scenario.

A new poll conducted by The Washington Post and the University of Massachusetts Lowell shows that a 55% majority of Americans support the legalization of sports betting in the country.

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