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Geoff Freeman, CEO of the American Gaming Association, predicts that the next president of the United States will legalize sports betting, to determine the activity is not limited to just a few states.
The reason behind this is the overwhelming amount of illegal sports betting in the United States, with an estimated market of $148.8 billion. The casino industry’s top lobbying group is campaigning for amend to current federal law pertaining to the activity. The lobbying group predicts sports betting to be legal within 5 years.
Freeman said in Pittsburgh last week: “The next president is going to have that issue of legalizing sports betting on their desk, and I’m confident they’ll make the right decision.”
AGA’s numbers came out that it estimated around $9.2 billion was bet on March Madness this year, with only $262 million of that amount coming at regulated and licensed sports books in Nevada, meaning less than 3% of the betting is legal. Freeman responded to this: “It’s time for a fresh, rational approach to sports betting that reflects reality.”