Tax revenue from online sports betting is expected to more than double tax revenue from recreational cannabis by 2025. New York is one of the states that offers legal sports wagers, and the state’s legislators approved mobile sports betting in April. The American Gaming Association said in a press release it anticipates a record 45.2 million Americans to wager on the NFL season, which is 36% more people than last season, due to more legal sports betting options available. This year’s National Football League is expected to bring in more money to the sports betting scene. Macquarie Research expects the market to be worth $30 billion by 2030. According to data from the American Gaming Association, the industry generated $1.8 billion in revenue in the first half of this year, surpassing the $1.5 billion in all of 2020. America’s sports betting industry is expected to expand further in size. Around half of the states, including Washington D.C., currently offer legal sports betting. Supreme court case that legalized sports betting, the Associated Press reported.

Nj sports betting revenue report