Ready to Bet on March Madness

Action Network Inc. was founded on the premise that this mania, long relegated to Las Vegas casinos and black-market barroom sportsbooks, is about to find its way into the American mainstream. Last May the U.S. Supreme Court overturned the federal law that had confined legal sportsbooks to Nevada. S...

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Bibliographic Details
Published in:Bloomberg businessweek (Online) 2019-03 (4607), p.18
Main Author: Boudway, Ira
Format: Magazinearticle
Language:English
Subjects:
Drug legalization
Internal Revenue Code
Law enforcement
Revenue
Online Access:Get full text
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Summary:Action Network Inc. was founded on the premise that this mania, long relegated to Las Vegas casinos and black-market barroom sportsbooks, is about to find its way into the American mainstream. Last May the U.S. Supreme Court overturned the federal law that had confined legal sportsbooks to Nevada. Since then seven more states have begun to allow betting, and a couple dozen others are considering it. Nationwide, operators' revenue could reach $6.5 billion by 2023, according to researcher Eilers and Krejcik Gaming. Bettors in New Jersey, where legalization arrived last June, are already wagering almost $400 million every month.
ISSN:0007-7135
2162-657X