Americans Illegally Gamble Half a Trillion Dollars Annually
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Americans illegally gamble about $511bn every year. State governments miss out on about $13bn of potential tax revenue each year, while legal operators miss $44bn. AGA CEO and president Bill Miller believes that all stakeholders need to work together to root out the unregulated and illegal gambling market.
Americans place $64bn in sports bets with offshore or illegal bookies. Projections for the total legal betting handle in the nation this year is $100bn. Illegal operators control almost 40% of the betting market. Americans spend $338bn through illegal iGaming platforms over the course of a year.
Americans illegally gamble half a trillion dollars annually. Unregulated gaming machines are still prevalent in the US. The AGA commissioned The Innovation Group to conduct the study.
