It's interesting that since last year, the Supreme Court overturned the 1992 federal law prohibiting sports betting, 43 different states have either legalized it or initiated some kind of legislation to establish it.
And you have to imagine that some of the big boys who haven't exploited it yet - states like California, Florida and Texas - are gonna do it in the near future.
According to the American Gaming Association, legal sports betting in the United States passed the $10 billion mark in July. And even through that doesn't necessarily put a dent in the amount of money that is bet ILLEGALLY on sports just yet, give it time, because there's a lot of room for growth.
That's because some of the states that have implemented sports betting haven't YET expanded to online and moble wagering. But they will. And when they do their revenues could go up exponentially. In New Jersey, for example, 85% of the sports betting handle is wagered outside of any brick-and-mortar location.
