Consumer Choice Center launches US sports betting index

(PRESS RELEASE) -- A new report published by the Consumer Choice Center evaluates all 50 states on how consumer friendly their sports betting markets are. Unfortunately sports betting is still illegal in 15 states, which is in large part why the illegal betting market in the U.S. is still thriving. It is estimated that the illegal sports betting market generated $50-$200 billion in revenue in 2020.

The Consumer Choice Center's North American Affairs Manager, and co-author of the report, David Clement explained stating, "The key to stamping out the illegal sports betting market is legalizing sports betting, and having an open and competitive market where legal sportsbooks compete for consumers. This helps grow the legal market while it actively discourages consumers from placing bets in the illegal market, which is ripe for fraud and abuse"

"All 15 states who maintain their ban on sports betting should immediately legalize sports betting, and do so in a way that opens the market and encourages competition. Since the overturning of the Professional and Amateur Sports Protection Act in 2018, 30 states have sought to legalize sports betting, but not all states have created an open and competitive market. States should follow New Jersey's lead, and reap the benefits. Through low taxation and healthy competition, the legal sports betting market has exploded in the Garden State. " said Clement

"New Jersey has generated $229,109,885 in state tax revenue and $1,815,719,871 in sportsbook revenue since the legal market was launched. The reasons for New Jersey’s success are simple: they keep taxes low on sportsbooks, mobile sports betting has become a priority, and while there is government oversight, most of the industry is run by commercial sportsbooks," said Clement.