Places like New York have already earned over $1 billion in tax revenue generated from sports betting. The two obvious consequences: increased revenue for states and gambling operators. The effects of this spending are multifold-and wider spread than people realize. Americans are betting billions and billions and billions of dollars legally every year, pretty much ever since the Supreme Court in 2018 overturned the Professional and Amateur Sports Protection Act of 1992. Recently, though, the uptick in sports betting legalization throughout the United States has given the industry another, high-volume consumer market to crack. It has been romanticized and hyperbolized in Las Vegas and other parts of the world for decades. Sports gambling has always been a cultural staple across the globe.
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