NOVEMBER 12, 2019: Morgan Stanley estimates that $7 billion will be spent on legal gambling in the U.S. within five years.[1] ([link removed]) That’s up dramatically from $833 million this year.
A year and a half ago, the U.S. Supreme Court decided that states could legalize sports betting. So far, 14 states have done just that and more are expected to follow.
While $7 billion in legal sports betting is a big number, sports betting is dwarfed by the $42 billion spent gambling in casinos during 2018.
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_Scott Rasmussen is an editor-at-large for Ballotpedia, the Encyclopedia of American Politics. He is a senior fellow for the study of self-governance at the King’s College in New York. His most recent book, ** Politics Has Failed: America Will Not ([link removed])
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was published by the Sutherland Institute in August 2018._
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