Odds-On Favorite

May 2, 2017 8:28 PM
  • Geoff Freeman
May 2, 2017 8:28 PM
  • Geoff Freeman

Sports betting’s popularity is soaring to new heights. In February, nearly 50 million Americans wagered on the NFL’s grand finale an estimated $4.7 billion—but only a little over $100 million of that was legally wagered in Nevada. In March, Americans put down $10.4 billion on the NCAA men’s basketball tournament, but only $295 million will have been done legally.

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A new Morning Consult poll released last month shows that fans of every NFL team overwhelmingly support lifting the federal ban on sports betting, and think states, not the federal government, should decide whether to allow sports betting within state borders.

However, thanks to a 25-year-old failing federal ban, nearly every bet is placed illegally. But a perfect storm of events could soon change this.