As per a new report, around 32 US states will be offering legal sports betting. If the US Supreme Court rules in the favor of New Jersey’s quest to offer sports betting, then within 5 years half of the US states will be witnessing legal sports betting.
A new market would be worth more than $6 billion. If all US states offer legal sports betting, it could be of worth $7.1 to $15.8 billion, says Eilers & Krejcik Gaming, LLC, which tracks state-by-state gambling legislation. Chris Grove, the managing director Eilers & Krejcik Gaming, LLC said that the American punters are already betting up to $60 billion annually through various offshore sites and bookies. Moreover, sports betting industry generates around $3 billion in revenue each year from US customers.
Assuming the High Court’s decision in New Jersey’s favor, Grove’s firm predicted that 14 states would offer sports betting within two years, i.e., Colorado; Connecticut; Delaware; Indiana; Massachusetts; Michigan; Mississippi; Montana; New Jersey; Ohio; Nevada; Pennsylvania; Virginia; and West Virginia. In addition to this, within 5 years, it predicted 18 more states to join the league and another dozen states within seven years.
However, many professional and collegiate sports leagues are confronting New Jersey’s stand saying it would threaten the perceived integrity of the games.