US doubles down on sports gambling: Mobile wagers are expected to top $80BILLION in 2022

The mobile sports betting industry expects total bets to top $80 billion in the United States by 2022 as the country’s gambling laws continue to be relaxed state by state.

The variety is reporting that $73.9 billion was wagered between January and October of this year, which is a 98% improvement over the same period in 2021. Incredibly, it’s also a 569% increase over 2020 and a whopping 2,268% increase compared to 2019.

And the sports betting industry is ending the year on a high note, with at least $6.3 billion wagered in November, more than in June, July or August, and that’s only a partial tabulation, as several states still have to report earnings for the month.

New York, one of five states to legalize sports betting in 2022, leads all with $13 billion in mobile sports betting so far this year. New Jersey ranks second with $8.1 billion, while Pennsylvania ranks third with $5.3 billion.

Best of all, from an industry perspective, is the room for growth. Sports betting remains illegal in California, Texas and, for the most part, Florida, the three most populous states in the United States.

The nascent mobile sports betting industry is the natural outgrowth of the US Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA) in 2018. The ruling effectively gave states the right to to legalize sports betting. Since then, 25 states and the District of Columbia have legalized mobile sports betting, though a federal ban remains in place for government properties in Washington.

In all, more than 30 states now have some form of legal gambling, though the rules differ from state to state.

Los Angeles Rams quarterback Matthew Stafford (9) throws a pass to Los Angeles Rams running back Cam Akers (23) in the first half during Super Bowl LVI between the Cincinnati Bengals and the Rams Los Angeles on February 13, 2022, at SoFi Stadium in Inglewood

The industry’s momentum suffered a setback in California in November, when voters rejected a series of initiatives put forth by the gaming industry and Native American tribes.

But that impediment may prove short-lived as other states reap tax breaks from mobile sports games.

The trends also appear to be helping sports leagues, which benefit from a “clear link” between engagement and betting, according to Variety. For example, those who bet on an NFL

The Variety study found a “clear link” between commitments and gambling. For example, 67 percent of those who bet on an NFL game are more likely to watch it, too.