You wouldn’t believe the insane amounts Americans are spending on gambling! It is now a norm and a tradition to bet on sports. Soccer, football, basketball, horse racing, the list is endless. In 2011, casinos in the state of Nevada, collected an average of 3.2 billion dollars as reported by Nevada Gaming Commission. 41% of that amount was from football alone. The American Gaming Association (AGA) attributes the collection 98.9 million dollars to the Super Bowl XLVII. According to the Mint website, the Super Bowl game brings in a profit of about eight billion dollars from around two hundred participants per year. AGA informs that the NCAA tournament attracts wagers of up to 90 million dollars for the Nevada216 sports’ book. Fantasy Sports Trade Association (FSTA) discovered that from the thirty-three million members, a total of 1.18 billion was pooled among players.

Illegal Wagers

CNBC reports that around 70 billion dollars exchange hands on football games and approximately 40 billion dollars on Major League Baseball, annually.

Online Gambling Platforms

Nevada, Delaware and New Jersey are the only states known to have legalized online gambling that is sponsored by casinos. This move has brought more profit than actual visits to casinos because of the influx of millennials. According to the Huffington Post, Millennials prefer online gambling to physical gambling.

The big business of sports betting harnesses at least one of ten Americans, most especially during the March Madness, as per

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