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Is The USA SportsBEtting Market worth $95 billion
Thursday september 10,2015 : U.S. SPORTS BETTING IS BIG BUSINESS
AGA estimates that market is worth $95 billion...and almost all of it is bet in illegal channels.
The latest developments in New Jersey's fight to open up sports betting have again highlighted the enormous potential market that US sports betting represents, with widespread coverage in mainstream and industry media devoted to the topic this week.
Most reports quote American Gaming Association estimates that in the U.S. alone, $95 billion will be wagered on the National Football League and college football games throughout the course of this season.... but note that only 2 percent will be wagered through legal channels in the four states that are permitted to conduct sports betting in terms of the federal Professional and Amateur Sports Protection Act (PASPA).
The influential Forbes business publication suggests that the numbers indicate that PASPA has failed to stop Americans' passion for wagering on sports events, and has instead deprived states of potential tax revenues and weakened consumer protection.
Canadian publications have also commented on the situation, using Canadian Gaming Association estimates that more than Cdn$40 billion in illegal sports wagering has been carried out in person and online since 2012, and that Senate politicians erred in first delaying and then killing off bill C-290, a measure that would have made single-game sports wagering legal in Canada and boosted legal wagering and tax receipts (see previous InfoPowa reports).
“You need only look at the recent media headlines”, said Bill Rutsey, CEO of the Association to the Toronto Sun. “The only people profiting from illegal sports betting are criminals and offshore operators who are not licensed and regulated to do business in Canada.”
In related news this week the fast-growing eSports sector has also generated headlines, with Eilers Research experts suggesting that in 2015 2.3 million eSports viewers will wager $315 million on games to generate total industry revenues of $24 million...and by 2020 the sector will see 19.4 million viewers betting $23.5 billion to generate total industry revenues of $1.81 billion from eSportsbook and fantasy eSports.
The Eilers team identifies companies to watch in the sector as Unikrn, EGamingBets, VitalBet, Pinnacle and Betway, with the fantasy eSports sector dominated by Vulcun and AlphaDraft.
Underlining the importance with which the sector is perceived, the report notes that companies like Bet365, William Hill and Bodog have all added eSports products within the past year.
The massive size and potential of eSports audiences appeals to betting companies; as an example, the 2014 League of Legends finals drew an audience of 27 million, which exceeded the number of U.S. viewers for the 2014 World Cup.
The reports indicate that whilst Asia is currently the epicentre for this type of action, Europe and North America are gathering momentum.
Gambling News :
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
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MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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