15 State legislatures move to seize this new revenue source: sports betting

What is sparking the sports betting legislation? Anticipated ruling by the US Supreme Court in Christie v. NCAA that will strike down the federal ban on sports betting

Examples of state responses to potentially legalized sports betting:

•  Rhode Island Governor’s proposed budget relies on $23.5 million of new revenue from sports gambling

What type of revenue is involved for states?

• sports betting is estimated at $41.2 billion industry according to the American Gaming Assoc.
•  $3.4 billion in taxes to state and local governments would stem fromt he $41.2 billion industry

Governing | The Week in Public Finance: Betting on Sports Gambling Becoming Legal, States Up the Ante