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The Rise of Sports Betting Across the Globe

The rise of betting on sports worldwide starts with the most popular game to watch. After many sports were shut down because of the COVID-19 pandemic, football became popular again in the United States.As the American Gaming Association (AGA) says, $4.3 billion was bet by gamblers on the Super Bowl LV game, which was a record for the business. This was a 63% increase from the previous year’s total. Taking over for American sports that had a dip in February would be how much people like college basketball. The AGA said that about 18 million people might be betting on March Madness online.Two hundred six percent more people came to this year’s tournament because of COVID-19.

With the legalization of sports betting in the United States in the last few years, the rise of betting on sports has many chances to spread worldwide.

 

A lot of people bet on sports all over the world.

About a year ago, the global sports betting market was slammed shut for the first time. The AGA says that January brought in $378 million in revenue, a record for U.S. sports gambling.

When it was a record month for sports betting across the country, it meant that revenue from 2020 was going to be up 174 percent from last year.

There were also two new legal places to bet on sports in Virginia and Michigan, which helped make those statistics even better.Tennessee and South Dakota are two of a few states that want to make it legal for people to bet on sports before the next football season started in September 2021.A lot of money is expected to be made from betting on sports in the United States by 2025.

According to be a lot more money bet in the world of sports between 2020 and 2025, according to a report from Technavio.

In 2020, Europe’s gross gambling revenue (GGR) was worth 24.7 billion Euros. This included online lotteries, online casinos, and sports gambling. Italy, the United Kingdom, Germany, France, and Spain each had the highest GGRs, how many people live in each country.

China is the country that bets the most. Macau is their particular administrative region (province).

The same as the rest of the world, international bookmakers, can be found online in Macau so that people can bet on sports. However, there are only two legal places to bet on sports and horse races in the area. They like to bet on European football and American basketball in Macau.

More people bet on sports than in Europe and North America this year. Trend: Online betting and new digital platforms have been leading the charge in this area for a long time now.

 

Is it legal to bet on sports?

In 1949, Nevada made it legal for people to bet on sports. When legalized in the United Kingdom in 1960, you could do it. It was made illegal in the United States on a federal level in the early 1990s.

There were no sports betting rules for more than 25 years, but a U.S. Supreme Court decision changed in 2018. Since then, almost half of the country has made it legal to bet on sports somehow.

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