In May 2018, the United States Supreme Court struck down the federal ban on state-authorized sports gambling, permitting any state to legalize sports betting at its discretion. See Murphy v. NCAA, 138 S.Ct. 1461 (2018). Since then, 25 states, along with Washington, D.C., have legalized some form of sports gambling. And business is booming.
As of Dec. 1, 2020, the public has legally wagered more than $31 billion on sports, generating just under $300 million in tax revenue. (See https://www.legalsportsreport.com/sports-betting/revenue). In New Jersey alone, $10 billion has been legally wagered on sports, including $803 million in October 2020, a national record for the amount wagered on sports in a single state in a single month. (See https://www.legalsportsreport.com/45718/new-jersey-sportsbooks-october-handle).
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