Sports betting already generates billions of dollars annually and is expected to keep expanding. According to the American Gaming Association, sports betting generated an all-time high of $4.3 billion in revenue in 2021. Launching on January 8th, online sports betting in New York generated about $48m in net income and $24.6m in taxes for the state in only the first eight days.
All but a few state legislatures have completed their work for the year 2022. Massachusetts is one of the few states with an active legislature, and progress is being made to legalize sports betting. However, proponents of sports betting and bookie operators saw less progress this year than they had hoped since only two states (Kansas and Maine) allowed sports betting.