Related – No Surprise: Amazon is Important to Discretionary ETFs
A previous study from industry consultant Eilers & Krejcik Gaming LLC calculated that total annual revenue from sports betting at casinos and racetracks in all 50 states could amount to $7.1 billion, whereas adding online wagers would more than double the annual revenue to about $16 billion.
Carlo Santarelli, an analyst with Deutsche Bank Securities, estimated that the U.S. market for both online and in-casino sports betting could reach $4 billion by 2023, based on 13 states having adopted it.
States that have already passed legislation allowing sports bets, such as New Jersey, Pennsylvania, New York and West Virginia, could be among the first movers.
For more information on the consumer sector, visit our consumer discretionary category.