US Sports Betting Boom Leads to Almost $100 Billion Handle since 2018

US Sports Betting Boom Leads to Almost $100 Billion Handle since 2018

When the US Supreme Court allowed states to decide whether to legalize sports betting, nobody anticipated the US sports betting boom. At present, 14 states got more than a billion dollars in sports wagers. Also, two other states are a hundred million dollars to reach the milestone.

The sports betting boom surprised betting odds experts. Although they know many Americans wagered on sports, they didn’t expect the market to be that huge. However, one person who wasn’t surprised about it was NY Senator Joe Addabbo Jr. He knew the potential of sports betting, and that’s why he fought for its legalization in New York.

New York finally joined the online sports betting bandwagon in January. It set a single-month record for wagers despite starting on January 9. Also, the state collected $1.6 billion in sports wagers during that month. In addition, the state is adding more operators. Thus, it took more than a billion dollars in bets while operating at less than full capacity.

US Sports Betting Boom

US Sports Betting Boom Leads to Almost $100 Billion Handle since 2018Since 2018, Colorado, Indiana, Illinois, Arizona, Iowa, Mississippi, New Jersey, Pennsylvania, Virginia, Tennessee, New York, Nevada, Michigan, and West Virginia have taken at least a billion dollars in sports wagers. According to online casino games operators, the US’s total legal sports betting handle is $96.6 billion. Also, it didn’t include New York’s numbers.

Sports betting experts expect New York’s handle to increase during the Super Bowl. Gone are the days when people need to whisper when talking about sports wagering. Thus, sports announcers can talk about it while working during games.

In the past, players had to go to Nevada, use offshore sportsbooks, or contact illegal bookies to bet on sports. Now people can wager on sports in most states. Also, they can download an app and place bets in the comforts of their homes.

Managing your gambling money should be a priority whenever you bet on sports. That way, you don’t need to worry about losing all your money.

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