Tuesday, June 5, 2018, was a red-letter day in legal sports betting. On that day, Delaware Governor John Carney made history at the Dover Downs casino when he bet $10 on the Philadelphia Phillies beating the Chicago Cubs, and officially made the country’s first legal sports bet outside the state of Nevada.
After Carney placed his bet, all three of Delaware’s casinos – Dover Downs, Harrington Raceway, and the Casino at Delaware Park – were open to take bets on sports like baseball, football, basketball, and hockey.
It was a historic day that Delaware and other states wanted to see for a long time. And for reasons I’ll lay out below, it kicked off an era filled with incredible investment opportunities.
On May 14, 2018, the Supreme Court ruled by a 6-to-3 margin to eliminate the 1992 federal law prohibiting nearly every state from allowing sports betting. The decision is now up to each individual state.
What could this mean for states? Well, in 2017, $4.87 billion was wagered in Nevada, which was the only state allowed to have legal sports betting. That number pales in comparison to the estimated $150 billion that was bet through illegal bookies around the country.
Let me cover those numbers again. They’re critically important.
A total of $4.87 billion bet legally in Las Vegas in 2017.
An estimated $150 billion bet illegally across the country in 2017 – about 30 times more.
If you can grasp the significance of those numbers, you’re well on your way to making a fortune in the Great American Sports Betting Boom .
In this three-part series, I am going to show you how big and profitable this boom could be. I’ll show you a huge part of this story most people are missing… and I’ll explain how you can capture the biggest, safest profits from what’s about to happen.
A Familiar Pattern
You’ve likely seen the headlines the last few years of marijuana stock fortunes being made…
In some cases, in a matter of just days. Or weeks.
Here’s how it all unfolded…
Colorado and Washington were the first states to legalize recreational marijuana. On Jan. 1, 2014, the laws went into effect.
And nearly every U.S.-based pot stock went up.
A handful went way up. Turning into 10-, 11-, 15-, and 18-baggers in just weeks.
Since then, seven more states and Washington D.C. have followed Colorado and Washington’s lead.
Today, we see the legal sports betting boom expanding just the same way, and that means the opportunity is expanding too!
Legal Sports Betting Expanding to Other States
Since Delaware opened its doors to sports gambling, other states have moved to capitalize on the opportunity – especially before the NFL season starts on Sept. 6.
As of June 25, New Jersey, Rhode Island, Mississippi, West Virginia and Pennsylvania had approved some level of sports gambling, joining Nevada, and Delaware.
Next up in the immediate future are New York, Kentucky, Connecticut, and Iowa, but it’s only a matter of time until most states offer some level of sports gambling.
The potential tax revenue is too big and too important to ignore. Think about it: If Nebraska decides it will not offer legal sports gambling but the surrounding states do, you can be sure that Nebraska will lose millions in tax dollars.
The Numbers Tell the Story
It’s difficult to know for sure how much money is illegally wagered on sports in the United States each year, but the estimate comes in around $150 billion. And remember, with only $4.87 billion wagered legally in Nevada in 2017, that means approximately 97% of all sports gambling is through illegal channels.
In fact, the American Gambling Association estimates $4.6 billion was bet on the Super Bowl this year with that same 97% coming on the black market.
There is no doubt that a large percentage of those illegal bets will soon move over to legal sports betting channels. The questions are how quickly that will occur and what the revenue numbers will be.
Let’s stay with Nevada as our case study. In 2017, it generated gross revenue of $248.8 million through legal sports gambling channels. That means the state made 5.1% of the total amount wagered.
Now, let’s apply that same 5.1% to the $150 billion that was bet illegally.
The result? $7.66 billion in gross revenue – or a whopping 31 times what was generated in Nevada last year.
Lest you think I’m looking at this through rose-colored glasses, let me share the view of others on the topic. Eilers & Krejcik Gaming, a boutique research firm specializing in the gaming and technology sector, sees annual gaming revenue of $6 billion in the U.S. by 2023. That’s based on 32 states legalizing sports gambling.
The firm’s research report goes on to say that if all 50 states legalize sports gambling, annual revenue could reach $15.8 billion on a total of $245 billion wagered in just five years.
To put that number into perspective, commercial casino gambling generated $39 billion in revenue in 2016 (not including Native American properties).
Let’s look at the most exciting number of all. If legal sports betting revenue climbs from $248.8 million in 2017 to $15.8 billion in 2022, we’re talking about a 63-bagger.
That kind of growth opportunity is rare, especially outside of world-changing technology.
Right now, as we speak, legalized sports gambling bills are making their way through state legislatures in more than half the U.S states according to Forbes…
Here’s a quote:
“With more than 30 states about to enact regulations that would allow sports betting within their borders, sports betting is an industry on the rise.”
Now get this. In nearly a dozen of those states, legal sports betting bills have been “fast-tracked.”
Take West Virginia for example. In late June, the state initiated ‘emergency regulations’ to legalize sports gambling by fall.
It’s football season.
States want legalized sports gambling in place to generate tax revenue by the time the 2018 NFL season starts on Sept. 6.
You see, the majority of sports bets in the U.S. are placed on NFL games – and
95% of those bets were illegal.
And now it’s legal and up for grabs.
I’m very confident that legal sports betting is one of the biggest money-making opportunities you’ll see in years. That’s why I’ve produced an entire online presentation on it.
Tomorrow, I’ll explain why the country’s demographics make this such an amazing growth opportunity and how businesses are already spending big dollars to prepare for the upcoming sports betting boom!
P.S. Donald Trump’s Supreme Court has opened up a lucrative new investment opportunity. You can learn why I’m so bullish on this opportunity, and how YOU can get your share of the windfall – right here.