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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 :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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