History of Sports Betting in the USA · places the first legal sports bet wagering $20 on Germany...
Transcript of History of Sports Betting in the USA · places the first legal sports bet wagering $20 on Germany...
History of Sports Betting in the USA
1996
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History of Sports Betting in the USA
1894First documented
sports bet on Football by none other than the
manager of the Colts
1919
The Black Sox scandal taints the Baseball World Series and the stain will influence the US
position on sports gambling for decades to come
1961The participation of the mob in
sports betting forces President John F. Kennedy to lay down the law with
the Interstate Wire Act prohibiting the operation of certain types of
betting businesses
2018New Jersey Governor Phil Murphy
places the first legal sports bet wagering $20 on Germany to win
the World Cup and $20 on the Devils to win the Stanley Cup
2012Las Vegas breaks the
3Billion Dollar threshold in revenue from sports betting.
1996January 17, Intertops.com
recorded the first online sports bet.
2018The Supreme Court
renders their verdict to legalize sports betting,
thereby putting an end to PASPA
THE AMERICAN GAMING ASSOCIATION (AGA) PREDICTS
ESPORTS TO CREATE UPWARDS OF $1.5 BILLION BY
2020 IN BETTING VOLUME
2006Congress implemented The Unlawful Internet Gambling
Enforcement Act (UIGEA) specifically targeting online
gambling operations
2002Live betting launched offering bettors the opportunity to bet
on a sporting event while it was taking place
1999
National Gambling Impact Study Commission (NGISC) report $80 billion
to $380 billion per year is wagered illegally on sports in the United States
through the Sportsbook ‘Black Market’
1992The Professional and Amateur Sports
Protection Act PASPA is enacted by congress banning sports wagering across the US
(except in the states where it was already somewhat legal: Nevada, Oregon, Montana,
Delaware, Washington & New Mexico)
Pennsylvania: $144.8 million Rhode Island: $80.2 million New Jersey: $1.39 billion Delaware: $36.9 million West Virginia: $75.8 million Mississippi: $111.9 million Nevada: $1.88 billion
AMOUNT WAGERED ($) ON SPORTS BETTING LEGALLY BY STATE
FIFA World Cup above 1 trillion
Superbowl 52 4.76 billion
March Madness 300 million (legally), 10 billion (all)
Kentucky Derby 209.2 million
Most Bet on Major Sporting EventsTHROUGH APRIL - MAY 2019
FULL-SCALE LEGALIZED SPORTS BETTING
RECENT BILL PASSED
RECENT BILL INTRODUCED BUT NOT PASSED
NO RECENT BILL INTRODUCED