Americans Will Bet Over $35 Billion on Baseball

American sports fans are poised to wager $36.5 billion on Major League Baseball (MLB) this year, according to an estimate by the American Gaming Association (AGA) released just days before opening day.

Of the $36.5 billion that will be wagered, $35.4 billion – or 97% – will be placed illegally through illicit offshore websites and sports bookies. Americans wager roughly $154 billion a year on sports illegally due to the 1992 federal prohibition on sports betting.

“The amount wagered illegally on professional baseball is another sign the federal ban on sports betting has become an utter failure,” said Geoff Freeman, AGA president and CEO. “It’s time for Washington to stop depriving states of critical tax revenue and allow them to reap the rewards of a regulated market.”

In 2016, the AGA estimated that fans would illegally wager roughly $2.4 billion on MLB postseason games. That same year, only an estimated $85 million was placed legally on playoff games, according to Nevada Gaming Control Board data.

The Professional and Amateur Sports Protection Act, or PASPA, dictates that Nevada is the only state permitted to offer traditional sports betting. Despite this ban, sports betting has only grown more prevalent. In fact, in 2016 alone, Americans wagered an estimated $154 billion on all sports, nearly all of it through bookies and offshore, illicit web sites.

The growing illegal sports betting market, which is fueled by a failing federal ban on sports betting, has rapidly pushed sports fans into an underground market with no consumer protections. A regulated marketplace, which stands in stark contrast to what’s currently available, would generate tax revenue and jobs for local communities and provide needed consumer protections for fans.

More at CDC Gaming Reports

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