Global Market Advisors (GMA), a hospitality consulting firm, has announced the release of a white paper on sports betting.
GMA’s Sports Betting division produced “An Examination of Sports Betting in America & Forecast of Revenues by State” in a bid to spread awareness current status of the sports betting market in the U.S. and its revenue potential on a state-by-state basis.
The group estimates total revenue for sports betting between $1.8bn to $9bn depending on the regulatory structure, tax rate, and states that would opt-in with the potential repeal of PASPA, which currently prohibits most states from allowing sports betting.
The white paper also includes a primer on the process to legalise sports betting and hurdles the effort is facing.
“With SCOTUS hearing arguments on the Christie v. NCAA case this Monday, sports betting in the U.S. is on the forefront of the discussion not only in the gaming industry but among the general public,” said Steve Gallaway, GMA’s managing partner.
“While the market has the potential to generate between $29.2 billion to $138.0 billion in wagers, it must be regulated and taxed properly to allow it to succeed while addressing illegal sports betting.”
Other key issues are also addressed such as lotteries vs. land-based gaming as operators, Europe’s influence, positions of professional sports leagues, and the reality of existing widespread activities and attractiveness of illegal sports betting.
In tandem with the white paper, GMA announced that John English is joining as a partner, serving as managing director of GMA’s new Sports Betting and Technology division.
Gallaway said: “John is an expert and pioneer in the sports betting industry. His knowledge and insights are invaluable; a commodity to which very few individuals or companies have access to. John will be a great asset to the GMA team as sports betting continues to evolve globally.”
He added that English was a major participant in preparing the white paper.