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¡°Sportsbooks make a 30 percent profit on parlays vs. five or six percent with straight bets,¡± says Jeff Edelstein, a senior analyst at USBets, a site devoted to sports gambling. ¡°People love parlay bets. Who doesn¡¯t like putting down a little to win a lot?¡±
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Sports Betting Revenue: Revenue for sports betting has been climbing. For the first half of 2022 revenue totaled just over $3 billion compared to $4.3 billion for all of last year. Morgan Stanley forecasts revenue to reach $7 billion by 2025. Also, in 2021 Americans bet $57.2 billion on sporting events, a year-over-year increase of 165%.
The report suggests that the government should consider implementing separate laws to regulate online gambling as a ¡°long-term measure.¡± Understanding that what it suggests is not an easy task, the report recommends putting the online gambling segment under the management of existing IT laws, which govern all forms of eCommerce.
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