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US sports betting action study
Monday July 15,2013 : U.S. SPORTS BETTING IS BIG BUSINESS
No wonder Nevada wants to keep the action to itself.
The magnitude of the US sports betting action was explored by NBC over the weekend, producing some interesting numbers.
The Nevada Gaming Commission has revealed that $3.2 billion was wagered in sports bets in the state’s casinos in 2011. Of that amount, $1.34 billion or 41 percent was handled just for football.
American Gaming Association figures show sports fans bet a record $98.9 million at Nevada casinos on Super Bowl XLVII. After paying out to bettors, Nevada sports books earned $7.2 million on 2013’s game.
Extrapolating from Nevada data, the financial planning website Mint estimates that more than $8 billion is wagered every year on the Super Bowl alone, an estimated 200 million people making wagers on the outcome of the game worldwide.
Between $60-70 billion is illegally wagered on college football each year according to CNBC.
Thirty-three million Americans participate in fantasy football, according to the Fantasy Sports Trade Association. The FSTA found that $1.18 billion changes hands between players through pools each year.
Between $30-40 billion is illegally wagered on Major League Baseball each year, according to CNBC. Baseball is not as big as football because of the lack of point spreads.
The FBI estimates that more than $2.5 billion is illegally wagered annually on the three-week March Madness post-season tournament each year.
As much as 25 percent of illegal wagers placed on college basketball games each year comes during March Madness, according to CNBC.
Sports book operators estimate $80 million to $90 million - less than 4 percent of the illegal take - is wagered on the NCAA tournament legally through Nevada’s 216 sports books, again according to the American Gaming Association.
One in 10 Americans play March Madness brackets according the data-processing website, Wager Solutions.com.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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