The global sports betting industry has grown exponentially over the last few years, with a significant share of that growth coming from the United States.This graphic shows annual gross gaming revenue (GGR) from sports betting in the U.S., with data coming from the American Gaming Association.What is GGR?
GGR is the total amount of money wagered minus winnings. For example, if a player wagers $1,000,000 at a casino and wins $900,000, GGR would be $100,000.Sports Betting Still a Young Industry
Sports betting in the U.S. was first legalized in May 2018, after the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992. PASPA had effectively outlawed sports betting nationwide.Since 2018, gross gaming revenue has jumped from $400 million to $11 billion in 2023
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82 sats \ 3 replies \ @grayruby 5 Jul
They certainly pour a lot of money into advertising.
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75 sats \ 2 replies \ @0xbitcoiner OP 5 Jul
There's no doubt that it's a major factor that has driven the growth of this market in the United States. But above all, I think it's the desire of people to gamble and make 'easy' money that attracts the most.
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48 sats \ 1 reply \ @grayruby 5 Jul
Yes. Casinos are doing well, sports betting is doing well, stock market at all time highs, people betting on memecoins. What better clue do people need that the money and the monetary system are broken? Yet they sell their lifeboat because of silly things like German gov selling or Mt Gox coins get distributed. Just goes to show most people are still fiat brained.
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45 sats \ 0 replies \ @0xbitcoiner OP 5 Jul
Indeed, old habits die hard!
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21 sats \ 0 replies \ @BlokchainB 5 Jul
Just getting started
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21 sats \ 0 replies \ @BitcoinAbhi 5 Jul
Sports betting in India is taxed at 30%. I can't understand if it's depressing or encouraging betting in India but it's surely flourishing industry here.
A good article to understand impact of sports betting on economy!!
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21 sats \ 0 replies \ @gmd 5 Jul
I'm amazed how quickly this has proliferated given how strict we've been to limit physical gambling to certain sites and banning online poker years ago.
I guess it only takes a few strategic donations to politicians to let the floodgates open.
Can't imagine this will be a net good for society.
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33 sats \ 0 replies \ @SatsMate 5 Jul
I do sports betting, only $5-20 cuck bucks, it does make the game a bit more interesting.
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0 sats \ 0 replies \ @Satosora 6 Jul
Gambling will always be americas passtime.
Where else is it pushed so hard?
Look at the state gambling system lol
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0 sats \ 0 replies \ @jakoyoh629 5 Jul
Wow, these numbers are astronomical and on an upward trend! I wonder if it's bigger than the Chinese market.
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