$400 billion? Wow. By my quick calculation, that's more than $1200 per person, including kids under 21, in gambling expenditure a year.https://twitter.com/DustinGouker/status/958744241303445506 …
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I'll definitely be happy when we can stop having to estimate the illegal market, which is obv an inexact science. @EilersResearch has estimated it at $50 billion.
I trust @EilersResearch, and that $50B figure seems in line with what you could project from NV statistics. The problem is that all stakeholders (pro & con) benefit from touting a bigger number.
The single biggest betting event of the year in the UK, the Grand National, where almost everyone in the country bets, national newspapers give away free bets etc has a handle of around $400m
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