The US Supreme Court granted the sports betting industry a fair ruling on May 14, 2018, when it dismissed the legislation banning wagering countrywide. States now have the mandate to make their own decisions whether to make gambling legal or not.
This news was received with much joy from both the sports betting companies and their supporters who expect to reap abundantly from this industry. According to the infographic below by NJ Games, fans are expected to bet about $23.5 billion on e-sports by 2020, while sportsbook operators are projected to generate $1.8 billion in revenue.
Even the sports leagues who were so against the legalization of sports betting are bound to gain from it through increased ticket sales and advertising due to more engagement from the fans who enjoy betting. And besides that, they might also end up earning 1% as an integrity fee from the gambling operators if the operators fail to refute this payment.More so, people are destined to get jobs out of the data provision deals sports data companies have signed with the major players in the industry, like the sports media companies and casinos.
In fact, it’s estimated that the gambling industry will generate 86,819 direct and 129,852 indirect jobs.
For more information on how the legalization of sports betting will impact the US, check out the infographic below.