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So far, such gambling is legal in only six states: New Jersey, Pennsylvania, Michigan, West Virginia, Delaware and Connecticut.
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%.
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