Americans spend $500bn on illegal gambling annually
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Americans spend $500bn on illegal gambling annually. American Gaming Association claims illegal operations cost it $44.2 billion in annual revenue. American Consumers are more concerned with placing their bets through an authorized and regulated gambling site. The future is shifting towards the regulated market. US state governments may be on the hook for $13.3bn in lost tax revenue annually due to the proliferation of illegal operators.
Americans spend $500bn on illegal gambling annually. Americans wagered $63.8bn in sports betting. Consumers are projected to spend more than $100bn this year on the legal betting market. The iGaming sector is more lucrative, but the state loses $3.9bn. 48% of all Americans who have played a slot or table game online have done so at an illegal site. There are 580,651 unregulated gambling machines in the US, compared to 870,000 slots in licensed casinos. The Association urges law enforcement, regulators, legal businesses, and lawmakers to come together and address the issue.
