In 2017 $95 Billion is expected to be bet, legally and legally on the NFL and collegiate football this year. Research has shown that the legal sports betting market in the united states will way surpass the rest of the world. NFL teams shared more than $7.2 billion in league revenue in the 2014 fiscal year. ESPN sports business reporter Darren Rovell estimates the NFL's total annual revenue to be more than $12 billion.
US sports betting market is growing fast and is considered a “sleeping giant” by the global research firm GamblingCompliance. It projects the Americans will develop a fully legal American market, placing bets at casinos, online and retail booking shops and will produce a $12.4 billion in annual revenue. That is 11 times larger than Italy’s gaming market and 5 times bigger than the United Kingdom’s sports betting market.
As of now Nevada, Oregon, Delaware, and Montana are the only state allowed under federal law to offer a full menu of sports betting, including single-game wagering, the most popular form in the U.S. According to gaming control, between 1992 and 2016 the total amount bet on football alone in Nevada was $28.3 billion.
The Big 3, MLB, NFL and NBA are all taking different looks at legalized sports betting. Several leagues have filed cases without much success in the last few years. The MLB commissioner Rob Manfred has said a "fresh approach" to sports betting is needed. The NFL has met with the American Gaming Association to discuss sports betting. The NBA has been supporters of sports betting. The NCAA is strongly opposed to legalized sports betting.
In 2015, six states -- Indiana, Minnesota, Mississippi, New York, South Carolina and Texas -- have considered sports betting bills. And some of the sports leagues have softened their stance on legalizing sports betting, with the NBA leading the way.
"We agree with the Third Circuit's decision reaffirming that the appropriate path to legal sports betting is through Congress," NBA spokesman Mike Bass has stated. Adam Silver has asked congress to create a federal framework that would be adopted by the case. After a decision in a New Jersey Case in the regulation of legal sports betting he also was quoted saying, "We continue to support a federal legislative solution that would protect the integrity of the game while allowing those who engage in sports betting to do so in a legal manner."
"Illegal sports betting is reaching new heights of popularity in America," Geoff Freeman, president and CEO of the American Gaming Association said a news release. "It's clear that a federal ban on traditional sports betting outside of Nevada is failing."