Re: 🔥[ANN] MARGINLESS.IO 🦁 - IT'S TIME TO BRING POWER TO BETTORS!🔥

500 BILLION DOLLAR industry

Betting and sports have been bedfellows for centuries. But the relations between the two have been deteriorating. The biggest setback has come from the rise of illegal betting. The industry has grown not just in terms of revenue, but also in its reach, and there are now fears over its influence on the outcome of sporting events. The allegations of match-fixing across various sports have once again got sporting bodies and lawmakers across the globe worried and they are trying to find ways to counter the sectors growing might. In this article we will cover some of the main aspects of this huge illegal betting industry that is worth well over 500 BILLION dollars and we will present you some interesting statistics regarding this topic.

Its massive. In fact it is huge. According to some estimates, the industry could be worth as much as $500b per year. To put that in context, it is more than 50 times the annual profit of Toyota, the worlds biggest carmaker. Most people believe that a huge part of those betting revenues are generated in Asia. However, because much of the industry is illegal, and there are no official transaction records, it is difficult to give an accurate estimate of its total size.
For example, Nevadas Gaming Control board reported a record $4.8 billion bet at its sports books in 2017, with the house keeping $248.7 million in revenue. But legal betting is just the tip of the iceberg, and nobody really knows how much money is bet illicitly. A 1999 study commissioned by Congress put the range at $80 billion to $380 billion annually. Research firm Eilers & Krejcik Gaming puts the number at $50 billion to $60 billion and estimates that bookies keep up to $3 billion of that.

Full article on Medium

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