More than $1 billion could be wagered – both legally and illegally – at the Summer Olympic Games this month, and, for the primary time in 16 years, Nevada sports books will accept bets at the Games in Brazil, highlighting how sports betting is more popular than ever. 

“Nevada sports books accepting bets at the 2016 Summer Olympics offers one more proof point that sports betting has become a pastime within the United states of america and beyond,” said Sara Rayme, senior vice chairman of public affairs on the American Gaming Association (AGA). "With outdated barriers -- reminiscent of opposition to a franchise in Las Vegas -- falling rapidly, it’s clear that a new strategy to sports betting will bring greater transparency and integrity to the games all of us like to watch."

The America Conference of Mayors recently took an important step in support of rooting out the thriving illegal market by unanimously supporting a resolution that seeks a brand new option to sports betting within the America. The Conference of Mayors will work with AGA to steer national discussions at the potential benefits of the regulated market and help identify platforms to offer protection to revenues of cities.

Americans bet $4.2 billion on Super Bowl 50 and another $9.2 billion on March Madness this year. Americans have shown a big interest in sports betting in an effort to better connect to the teams they follow and extra advance their interest within the game. However, with $149 billion wagered illegally on U.S. sports in 2015, the desire for a legal, regulated sports betting market hasn't ever been greater. 

The illegal sports betting market siphons tax revenue from state and native governments and fosters a violent underground market that fuels human trafficking and other violent crimes. 

AGA was proactively working to construct a coalition of support in favor of a legal sports betting market. Along with the united states.. Conference of Mayors, AGA has convened Law enforcement and a few major sports leagues in support of legal wagering. 

NBA Commissioner Adam Silver was an advocate of legal sports betting since 2014 when he wrote within the Ny Times, “I believe sports betting have to be brought out of the underground and into the daylight where it may be appropriately monitored and regulated.”

This summer, the NHL announced it'll expand and add a 31st team in Las Vegas, and it follows MLB Commissioner Rob Manfred’s recent remarks that Las Vegas is a “viable alternative” in relation to expansion and that he “would not disqualify it simply because of the gambling issue.”

Read More... [Source: Gaming Industry News]