Is sports betting in US earning revenue for the states?

Even though sports betting may look like a minor affair, with a participant betting on a horse race, or putting their money on a Super Bowl team, it is actually becoming one of the leading aspects of tax revenue for major states in the United States, says USA Today. Some states generate the most of this tax revenue from sports betting, which is then used for various public projects including infrastructure, sanitation, transportation and more.

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Which states make the most money out of sports betting in US?

New York has made a fair share out of sports betting last year, when it generated $260 million in taxes. Since sports betting was legalized in the year 2018, New Jersey has always led the way in money wagered on sports betting. They are followed by New York, Nevada, Illinois, Pennsylvania, Colorado, Arizona and more, with billions of dollars wagered on sports gambling from these states since 2018.

Who are most likely to indulge in sports betting in US?

In terms of demographics, men are more likely to bet on sporting events according to a YouGov survey. Meanwhile, Hispanic and white people are likely to bet money sports as compared to others, says USA Today. Sports betting is however, illegal for minors in US states.

FAQs:

Can minors indulge in sports betting in US?
Most gambling formats in the US states need you to be above 18 years of age, including sports betting and lotteries. For some states, the age bar is 21.Is sports betting legal in New York?
Yes, sports betting was made legal in New York a few years ago and from then onwards, the state has generated a fair share of tax revenue from sports gambling.