How big of an industry can sports betting be?! You probably know the amount of money you’ve had to pay your bookie over the past year or so (it’s more than you think it is, I promise you), but what about the industry when it becomes fully legal? The folks over at Morgan Stanley (those people are smart) gave us an estimate:
The Wall Street firm, which is advising MGM on a possible bid for Caesars Resorts, believes there could be $216 billion legally wagered on sports by 2025, according to a recent report reviewed by The Post.
In what it calls a bull-case scenario that bookies could only dream of, the average US adult would lose $43.50 a year betting on sports, which is broadly in line with figures in Europe and Australia, where sports betting is legal, Morgan Stanley says.
That $216 billion would result in $11 billion in revenue for the casino operators, Morgan Stanley says. That revenue figure would be equal to last year’s North American movie box office sales.
216 BILLION dollars. You know what that looks like? $216,000,000,000. Some people dream of 6 figures. That’s 12 figures!!! All because none of us know how to bet, even though we swear we are good bettors.