SPORTS WAGERING

There are many myths associated with sports wagering in Nevada - the only state where it is legal, regulated, policed and taxed. The following are the facts about sports wagering:

• Overall, Nevada's legal sports wagering represents less than 1 percent of all sports betting nationwide. In 2008, $2.58 billion was legally wagered in Nevada's sports books; the National Gambling Impact Study Commission (NGISC) estimated that illegal wagers are as much as $380 billion annually.
• Gross revenue for Nevada's sports books was $136.4 million in 2008.  While more than $2.5 billion was wagered in 2008, more than 94 percent of all bets placed were returned to patrons in winnings.
• Legal sports wagering helps bring more than 30 million visitors to Nevada each year and provides employment for thousands of people. 
• Approximately two-third of all sports bets in Nevada are place on professional, non-college sporting events.
• The FBI estimates that more than $2.5 billion is illegally wagered annually on March Madness each year.
• Comparatively, sports book operators estimate $80 million to $90 million – less than 4 percent of the illegal take – is wagered on the tournament legally through Nevada’s 180¹ sports books.
• More bets are placed on the Super Bowl than on any other sporting event of the year, including March Madness.
• The 2009 Super Bowl earned nearly $6.7 million for the Nevada sports books. Approximately $81.5 million was wagered on the Super Bowl in the state’s sports books in 2009, according to the Nevada Gaming Control Board.  The $81.5 million wagered in 2009 was a significant drop from the $92 million wagered on the game
• Of the total amount bet on the Super Bowl, only about 1.5 percent is wagered legally; these bets are made by those over age 21 and physically present in the state of Nevada.
• The Las Vegas Convention and Visitors Authority estimated that the 2007 Super Bowl weekend generated $109.5 million in non-gaming economic impact and attracted 287,000 visitors.
• According to Christiansen Capital Advisors (CCA), which tracks Internet gambling, online sports betting generated $4.29 billion in revenues in 2005. This is more than double the $1.7 billion generated by online sports betting in 2001.

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  ¹This number is current as of 2/4/09