Americans will bet $95 billion on pro and college football in 2015, and less than four percent of it will be done legally, according to a recent report by ESPN.
Geoff Freeman, president and CEO of the American Gaming Association stated the obvious in ESPN's report when he said "Illegal sports betting is reaching new heights of popularity in America. It's clear that a federal ban on traditional sports betting outside of Nevada is failing."
Some steps have been taken to expand legal sports wagering beyond Las Vegas, Nevada, specifically in New Jersey. Presidential candidate Chris Christie has received serious pushback though. He was sued by the NCAA and NFL, and has lost on two federal appeals. Meanwhile, Vegas sports books raked in a cool $227.04 million.
Gambling Compliance projects that a nationwide, legal U.S. sports betting market could produce up to $12.4 billion in revenue, a figure five times larger than the U.K.'s market and dwarfing Italy's by 11 times.
Legal sports gambling is becoming less taboo for the four major sports' shot-callers. Well, at least some of them. NBA commissioner Adam Silver is open to the idea, and an NBA spokesman told ESPN that if it was done through congressional channels the idea would have support.
"We agree with the Third Circuit's decision reaffirming that the appropriate path to legal sports betting is through Congress," NBA spokesman Mike Bass said.
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."
MLB commissioner Rob Manfred said a "fresh approach" to legal sports gambling is necessary, even though his league has famously banned one of the greatest hitters ever, Pete Rose, for life because of gambling.
The NFL and NCAA remain staunchly opposed to gambling, per ESPN.
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