Gambling: SCOTUS Clears Way for Sports Betting Tsunami

Since 1992, sports betting had been prohibited across the United States. That is, until Monday when the Supreme Court rescinded the law, leaving it up to each state to decide whether to permit sports-related gambling. While there’s no official accounting of the size of the illicit sports betting black market in the US, experts estimate total wagers to be between $80 billion to $150 billion annually. The high court’s decision is expected to help transfer sizable amounts of betting from the black market back into casinos across the nation. More importantly, it opens up new streams of revenue across the evolving gaming industry as a whole. Legalized US sports betting could put anywhere between $2 billion and $5.8 billion of win (revenue) on the books and generate between $21.9 to $26.6 billion in total economic impact . . .