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.