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AGA Worried with the Size of Illegal Betting and Gaming Market

AGA Worried with the Size of Illegal Betting and Gaming Market

A survey of 5,284 US adults carried out on behalf of the American Gaming Association (AGA) found that 49% of the bettors who wagered withinside the beyond yr have positioned a wager with an unlawful operator, and 48% of online slots or desk sports gamers have performed with an illegal online casino.

Stunning Figures

Stunned at the scale of the unlawful gaming marketplace withinside the US, the AGA posted a file titled “Sizing the Illegal and Unregulated Gaming Markets withinside the US,” estimating that Americans spend $511 billion every yr playing with unlawful sportsbooks, online casino web sites, and unregulated gaming machines. Commenting on the findings, AGA president and leader government officer Bill Miller raised worries approximately the danger posed by the aid of using unlawful operators in the regulated marketplace. “Illegal and unregulated playing is an epidemic in our society,” Miller said, outlining that it is “taking gain of prone consumers, skirting regulatory responsibilities and robbing groups of vital tax sales for infrastructure, schooling and greater,” satisfied that the file shows “simply how pervasive” the unlawful marketplace is. The file estimates that because of illegal playing, country governments had been robbed of $13.three billion in annual tax sales, $2.five billion greater than what criminal operators generated in 2021, siphoning $44.2 billion in annual sales from the illegal gaming industry – nearly 1/2 of what mixed industrial and tribal sales changed into final year.

Sports Wagering

The AGA report estimates that US bettors spend $63.8 billion on bets at illegal sportsbooks and overseas sites, depriving legal sportsbooks of $3.8 billion in gaming revenue and $700 million in taxes are stated. The US sports betting market in 2022 is based on a total market forecast of $100 billion. Previous AGA research has shown that more than half of those who gamble with illegal operators or sites believe they are doing so legally.

Online Casino Gaming

AGA stated that Americans gamble an estimated $337.9 billion on illegal gaming websites, resulting in a loss of $3.9 billion in government tax revenue. The illicit market gaming is estimated to be worth US$13.5 billion annually. The gambling industry advocacy group concludes that it is almost three times the size of the legal gaming market, which is estimated at $5 billion this year, as there are currently only six states hosting online casino gaming is legal.

The survey, conducted by The Innovation Group, examines the gaming behavior of participants’ legal and illegal operators over the past year and incorporates publicly available data on the size of the legal gaming market in the US.

AGA is concerned about the size of the illegal gambling and betting market. US gamblers spend $63.8 billion betting on illegal bookmakers and overseas sites. Legal sports betting loses $3.7 billion in gaming revenue and $700 million in taxes.

Illegal businesses will capture nearly 40% of the US sports betting market by 2022. The AGA is concerned about the size of the illegal online betting market. Of the legal gambling market, they were estimated at $5 billion this year.

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