Sports betting is big business.
It always has been, even if most of it happened illegally. Now that it’s legal in 38 states and the District of Columbia, the money keeps going up and up.
Via Doug Greenberg of ESPN.com, the nationwide handle (per the American Gaming Association) hit $119.84 billion. That was a 27.8-percent increase over the 2022 numbers.
And, in further proof that the house always wins, revenue increased by 44.5 percent, to a record $10.92 billion.
Next year could set new records, especially with more than $23 billion in betting projected for Super Bowl LVIII.
It’s unclear where the ceiling will be. But there are still 12 more states to go, including California and Texas. If/when those states get in the game, the numbers will go even higher.
And the house will keep on winning.