Betting on Sports: Why It’s Outpacing the Game Itself – Insights from Utah News Dispatch

As fans gear up for Super Bowl LIX, many will pay close attention to proposition bets, like predicting how far Kansas City quarterback Patrick Mahomes’ first touchdown pass will go. Currently, the over/under stands at 9.5 yards. However, few consider the darker side of sports betting.

The surge in sports betting since the Supreme Court lifted the ban in 2018 is staggering. In 2024, legal bets hit $142.5 billion in the U.S., with operators making $13.2 billion in revenue. In contrast, just $248.8 million was wagered in 2017, the last year Nevada held a monopoly on legal betting.

For the upcoming Super Bowl, Americans are expected to legally wager $1.39 billion, according to ESPN. Ironically, Nevada, once the epicenter of sports gambling, has lost its edge. Jim Dowling, an anti-money laundering consultant, notes that the rapid expansion of legal betting options has diluted Nevada’s once-coveted brand.

In 2024, many states experienced strong revenue from sports betting, with New York leading the charge with a $22.5 billion handle. Meanwhile, Nevada’s gambling win remained flat, with a $482 million profit. Although mobile betting in Nevada has risen, the state’s overall numbers are declining.

The landscape of betting is riddled with challenges. Over $64 billion is funneled into illegal sportsbooks annually, often due to confusion over legal vs. illegal operators. Most gamblers prefer to bet legally but are tricked by unlicensed websites.

Concerns about integrity arise as sports leagues increasingly partner with sportsbooks. Last year, the NFL suspended 13 players for gambling violations, revealing a troubling trend among athletes. Matthew Wein, a former Homeland Security advisor, warns of the risks when players place bets through illegal channels, potentially opening them up to influence from illicit bettors.

In a notable case, a former illegal bookmaker admitted to booking thousands of bets from athletes. This not only highlights the issue but raises concerns about gambling addiction among athletes, with estimates suggesting up to 50% of them gamble, while 10% may be compulsive gamblers.

Regulators in Nevada, historically seen as the gold standard for gaming oversight, face scrutiny for their handling of illegal betting. Despite having a legal market, crime persists, and the Gaming Control Board’s focus is shifting toward problem gambling and ensuring compliance with regulations.

Interestingly, the NFL’s stance on gambling has evolved. Once resisting partnerships with casinos, the league now embraces the lucrative potential of legalized betting, embodying a significant cultural shift. With legal sports betting now available in 39 states, the landscape continues to change rapidly.

While the industry grows, individuals like Dr. Harry Levant share sobering stories of gambling addiction and its consequences. Lawmakers are attempting to address such issues with proposed regulations, recognizing sports betting as a public health concern.

As the gaming world evolves, issues such as cashless betting and cryptocurrency enter the conversation. Though banned from casual use in Nevada casinos, illicit exchanges still take place, raising concerns about money laundering and the integrity of betting practices.

Nevada Current is part of States Newsroom, supported by grants and donors as a nonprofit news network, maintaining its editorial independence.