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When it comes to individual sports, the NFL is the most popular one with 58 billion dollars spent on betting just in 2017. Americans also wagered $4.6 billion on the Superbowl and $10.4 billion on March Madness in 2017. PASPA, more commonly known as the Bradley Act, was first suggested in the early 90s by NBA commissioner David Stern. Labeling gambling as one of the major problems of American society, Congress ratified it in 1992.
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Sports betting is one of the fastest-growing industries in the world. Millions of people are starting to use sports betting websites and mobile apps for wagering. Data shows that sports betting revenue in the U.S. is expected to reach over $8 billion by 2025. New Jersey is the biggest sports betting market in the U.S. outside Nevada. Total sports betting revenue in New Jersey jumped 57% YoY in August 2020 to reach $39.5 million. Supreme court to legalize sports betting also resulted in a significant rise in sports betting as casino companies and online gaming platforms launched their sports betting platforms across the country.
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