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7 billion dollars in legal sports betting within five years

November 12, 2019: Morgan Stanley estimates that $7 billion will be spent on legal gambling in the U.S. within five years.[1] 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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Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology. Columns published on Ballotpedia reflect the views of the author.

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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, was published by the Sutherland Institute in August 2018.

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