The easiest way for media companies to play in this is to simply take ad money from sports bookmakers, and/or develop programming aimed at sports gamblers.

I’ve been talking to people who make money in sports betting and media, and this looks like the way it’s going to play out: So here’s the question for media companies that are hoping to profit in some way from the billions of dollars gamblers are going to bet on sports: How do we get a slice? But with estimates of US sports gambling hovering around $150 billion annually, it won’t be long before many states decide they want a piece of that action. Besides Nevada, which has always had legal sports betting, a handful of states have authorized it, with only New Jersey jumping in completely. Now it’s up to individual states to decide if they want it.

“What millions now face are endless deceptive advertisements aired during the most-watched television broadcasts in America, inviting them to risk their money on platforms funded by venture capitalists rather than by organized crime,” Matthew Walther, editor of Catholic literary journal The Lamp, wrote in an Atlantic piece last year.Sports betting in the US used to be illegal, for the most part. The moves have not come without serious detractors, though, who have raised concerns the rapid spread of legalized gambling could lead to addiction problems, especially among financially vulnerable people, while legalized sports betting increases the risk of match-fixing.

The decision set off a wave of legalization efforts, allowing for legal sports betting in 33 states and the District of Columbia in time for Sunday’s Super Bowl.

The most monumental change in recent years came in May 2018, when the Supreme Court in a 6-3 decision struck down a 1992 law that largely restricted sports betting to Las Vegas. has trended toward vastly expanding legal gambling options over the past several years, with many state political leaders arguing a gambling prohibition only served to funnel tax revenue into illegal operations. Some 100 million sports betting transactions were made this weekend alone, according to a CNBC analysis.

The announcement came after an estimated $16 billion was bet on Super Bowl LVII-a sports betting record for a single event.

Casino news industry