- It is estimated that only 3% of all bets placed during March Madness are placed legally - The FBI estimates about $2.5 billion is bet on March Madness annually
- Around $80-$380 billion bet illegally on sporting events annually
- PASPA (Professional and Amateur Sports Protection Act) was passed in 1992 to make sports betting illegal in all states EXCEPT Montana, Nevada, Oregon, and Delaware - It is estimated that 1% of all bets placed on the Super Bowl are made legally
- 21-34 year olds account for 18% of all Nevada casinos visitors
- In October 2015, $504.6 million was wagered across the state of Nevada on sporting events
Pros
- Potential HUGE REVENUE
- Employment Opportunities
- Decrease in crime surrounding illegal betting - Revenue used for state projects + improving education
Cons
- Potential effect on the Sports Industry - "Integrity of the Game"