US sports betting revenue could reach $3bn in 2021

VIXIO GamblingCompliance estimates that US sports betting revenues will reach between $2.6bn to $3.1bn in 2021.

US.- A company that tracks gambling legislation and performance around the world has predicted that revenue from legal sports betting in the US could reach $3bn in 2021.

VIXIO GamblingCompliance projects that at least six but as many as fourteen additional states could legalise or expand sports betting in 2021, thus producing higher revenues nationwide.

Most recently, New York Governor Andrew Cuomo expressed support towards mobile sports betting, after long pushing back on legalising it.

Revenues were estimated to reach between $2.6bn to $3.1bn, a huge increase from the $1.55bn it projects the US will have generated throughout 2020 (not all states have reported their December figures yet).

Sports betting revenue refers to the money remaining once sportbooks pay out winning bets and other expenses. States collect their taxes based on the amount of revenue a company generates.

At present, many states are looking for ways of increasing their budget since the coronavirus pandemic has caused economic meltdown across the US.