Background Document: Sports Betting in the United States The sports betting landscape in the United States has undergone significant changes recently. A report commissioned by the American Gaming Association (AGA) reveals that the black market's share of the sports betting economy in Florida has decreased by 19% since 2022. However, the illicit market still generates substantial revenue, with $258 million in annual revenue for offshore operators in 2024. The AGA study also highlights the growth of the illegal market across the US, which has increased by 22% since 2022. Notably, California has experienced growth more than 10 times that rate... with the black market continuing to exploit the state's lack of regulated sports betting.
The AGA report estimates that the unregulated sports betting market in the US handles $84 billion and results in $5 billion in lost revenue annually. Efforts to combat the black market and promote regulated sports betting are underway. Florida Attorney General James Uthmeier, along with 49 other AGs, "has urged the US Department of Justice to increase pressure on offshore sites." Sportsbook operators like Hard Rock Bet are committed to providing a safe, "legal.".. and responsible sports betting experience for players.
Reference: Found hereGood news: The black market's share of the sports betting economy in Florida has shrunk 19% since 2022, according to a report commissioned by the American Gaming Association . Bad news: That illegal market in 2024 was still generating $258 million in annual revenue for offshore operators, according to the Innovation Group study.
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