This area of the US betting market has skyrocketed 20x since 2018 — here are 3 simple ways to book a piece of that action

This area of the US betting market has skyrocketed 20x since 2018 — here are 3 simple ways to book a piece of that action

Online sports gambling is still a relatively new phenomenon in the U.S., but it’s already on the way to becoming a multi-billion dollar industry investors should keep an eye on.

In October 2021, sports gamblers placed $7 billion in wagers, according to industry researcher SportsHandle. That’s more than 20 times the amount bet in June of 2018.

Goldman Sachs has predicted that the online sports gambling market could generate up to $39 billion in annual revenue by 2033. If California legalizes it — three separate pro-gaming proposals are currently being debated in the state — that timeline could be shortened considerably.