The potential market for sports gambling in the United States is huge and largely untapped. In 2016, legal sports wagers in Nevada totalled approximately $4.5 billion (http://gaming.unlv.edu/reports/NV_sportsbetting.pdf). However, this is a small fraction of the estimated illegal sports gambling market in the United States. In March 2017, the American Gaming Association (“AGA”) estimated that Americans’ illegal sports wagers totalled between $149 billion and $500 billion per year. Using the $149 billion amount as a conservative estimate, the market for illegal sports gambling in the United States last year was more than double the combined total annual sales for all U.S. lotteries (44 states, D.C., and two U.S. territories), which were $73.8 billion in 2015 (http://www.naspl.org/faq), greater than the revenue of 491 of the Fortune 500 companies, and roughly equal to the combined revenues of Microsoft, Goldman Sachs, and Bristol-Myers Squib. (AGA Brief as Amicus Curiae in Support of Petitioners in Christie v. NCAA, et al. (U.S. Sup. Ct. 16-476 & 16-477), the “AGA Amicus Brief”).

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