The rise of sports betting in the United States over the last decades has been nothing short of remarkable.
On one hand, it’s pretty darn cool that I can pull up my phone and make money backing the Sixers’ inevitable inevitable embarrassing collapse.
On the other, it’s led to some pretty awkward situations for athletes who don’t seem to understand that they’re not allowed to bet on the leagues in which they participate.
But just how big has sports betting gotten in the US since the Supreme Court allowed states to regulate it in 2018? Well, now we know.
“Americans have bet over $220 billion on sports with legal gambling outlets in the five years since the U.S. Supreme Court cleared the way for all 50 states to offer it, and the industry shows few signs of slowing despite some recent scandals that have put a spotlight on wagering safeguards,” reports Wayne Perry of The Associated Press.
Think that’s a huge number? Well one major sports betting site CEO says it’s just the start.
“While the milestones of legalized sports betting that have led up to now are remarkable, this industry is excitingly still far from being fully realized,” DraftKings CEO Jason Robins told Perry. “Legal betting is already part of mainstream sports culture, and I anticipate this trend will grow as adoption increases. The accessibility right now for fans to place a live, micro-bet during a game, for example, shares parallels with other smartphone-powered capabilities like hailing a ride, buying a stock, or playing a podcast.”
But sports betting doesn’t come without its downsides.
Just last month, the Premier League in England banned gambling sponsorships from uniforms. The move comes after a dangerous rise in gambling addiction in the country.
And the US could be next to follow.
But for now, it’s clearly that the rise of sports betting in the US is here, and it’s booming.