Misc
America’s Multi-Billion Dollar Sports Betting Industry
In 2015, Americans bet $149 billion illegally on sporting events.
Today’s infographic from Longitude breaks down America’s multi-billion dollar sports betting industry. It shows the four states where fixed odds betting through bookmakers is legal, and it also compares a more legal alternative that’s available in 43 states.
The Sports Betting Industry
Sports betting is a thriving underground business. A recent example of this is Super Bowl 50, which is estimated to have fetched a record-breaking $4.1 billion in illegal bets. Only an additional $100 million of bets, or 3% of the total, were made legally.
But what’s the difference between a legal bet, and an underground one? It all depends on where you live and how the betting is done.
Fixed-odds betting, in which odds are created by a bookmaker, is legal in just four states: Montana, Oregon, Delaware, and of course Nevada.
Pari-mutuel wagering, which instead pools players bets together to calculate odds, is legal in 43 states. Pari-mutuel payout odds depend on the amount of bets, and generate transparent profits because of fixed commission fees paid to the operator.
The US horse racing industry already uses pari-mutuel wagering, and it generates a range of economic benefits. This includes $102 billion in economic benefits generated annually and the support of 1.2 million jobs across the country.
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VC+: Get Our Key Takeaways From the IMF’s World Economic Outlook
A sneak preview of the exclusive VC+ Special Dispatch—your shortcut to understanding IMF’s World Economic Outlook report.
Have you read IMF’s latest World Economic Outlook yet? At a daunting 202 pages, we don’t blame you if it’s still on your to-do list.
But don’t worry, you don’t need to read the whole April release, because we’ve already done the hard work for you.
To save you time and effort, the Visual Capitalist team has compiled a visual analysis of everything you need to know from the report—and our VC+ Special Dispatch is available exclusively to VC+ members. All you need to do is log into the VC+ Archive.
If you’re not already subscribed to VC+, make sure you sign up now to access the full analysis of the IMF report, and more (we release similar deep dives every week).
For now, here’s what VC+ members get to see.
Your Shortcut to Understanding IMF’s World Economic Outlook
With long and short-term growth prospects declining for many countries around the world, this Special Dispatch offers a visual analysis of the key figures and takeaways from the IMF’s report including:
- The global decline in economic growth forecasts
- Real GDP growth and inflation forecasts for major nations in 2024
- When interest rate cuts will happen and interest rate forecasts
- How debt-to-GDP ratios have changed since 2000
- And much more!
Get the Full Breakdown in the Next VC+ Special Dispatch
VC+ members can access the full Special Dispatch by logging into the VC+ Archive, where you can also check out previous releases.
Make sure you join VC+ now to see exclusive charts and the full analysis of key takeaways from IMF’s World Economic Outlook.
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VC+ is Visual Capitalist’s premium subscription. As a member, you’ll get the following:
- Special Dispatches: Deep dive visual briefings on crucial reports and global trends
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