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Sports betting scandals take center stage in eventful year


The U.S. Supreme Court’s decision to allow states to offer sports betting has led to record amounts of money being wagered legally each year. It is projected that close to $130 billion will be wagered by the end of 2024. However, the industry has been rocked by high-profile scandals, including Jontay Porter’s lifetime ban for fixing bets and Shohei Ohtani’s interpreter stealing millions to pay off gambling debts.

These scandals have had an impact on the public perception of sports betting, with Missouri voters narrowly approving sports betting legalization in November. Some states, such as Texas and California, are unlikely to enter the sports betting market next year. The Texas Legislature meets every two years and has shown little interest in legalizing sports gambling.

The scandals involving Porter and Ohtani have also led to changes in the industry, with some sportsbooks refusing to take prop bets on certain players. However, it is unclear what lasting impact these incidents will have on the industry. Additionally, the oversaturation of advertising and lower than expected tax benefits in states that allow betting have contributed to a shift in public attitudes towards the industry.

Overall, the future of sports betting in the U.S. is uncertain, with some states facing challenges in entering the market and public perception undergoing a “reboot.” While the potential tax revenue from sports betting is substantial, states will need to navigate various obstacles in order to fully capitalize on the industry.

Note: The image is for illustrative purposes only and is not the original image of the presented article.

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