Sports

REPORT: Legal Sports Gambling Could Be Worth Around $150 Billion Annually

(Photo by Maddie Meyer/Getty Images)

David Hookstead Smoke Room Editor-in-Chief
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There is a ton of cash just waiting to be made on legalized sports gambling.

CNBC wrote the following Saturday:

The theoretical market for DraftKings and FanDuel is huge. Americans gamble more than $150 billion illegally on sports in a year, according to estimates from the American Gaming Association. About another $5 billion comes in legally.

For March, FanDuel took in $13.3 million in online sports bets for New Jersey, taking more than 50 percent of the New Jersey market. DraftKings generated $7.3 million in internet sports wagering revenue. 

My friends, that is a ton of cash. The main goal of everybody involved in sports gambling right now should be to get all the offshore money back to America. (RELATED: Nevada And South Dakota Are The ‘Most Gambling-Addicted States’)

There’s $150 billion being wagered illegally. Imagine if all that money was here in America running through legit sports books.

There’d be money falling from the sky.

I don’t understand how anybody could be against legalized sports gambling. Here’s a newsflash for everybody: People already gamble on sports and that won’t end anytime soon! Pretty much everybody I know places money on NFL and college football games every single week of the season.

If money is going to be wagered, then we might as well have it get gambled through legal books instead of offshore.

This is day one stuff. How anybody could be against more money coming through the economy is beyond me. That mindset sounds like it’s straight out of North Korea.

This is just common sense to me. Make sports gambling easy and accessible everywhere. There will be more cash falling down than people will know what to do with.

Honestly, this doesn’t need to be difficult. Get with the times or get out of the way.

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