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00:00All right, so let's get started here.
00:01And by no surprise, we're expecting the most amount
00:06of money bet all time legally on the National Football
00:10League this season.
00:10Is there anything else that's fair to say beyond that?
00:13Because that's the easiest prediction in the book.
00:16Yeah, this number has gone up every year,
00:18as you accurately allude to.
00:20You know, you have more states betting on sports,
00:23more states legalizing sports, more people betting on sports.
00:26You're going to have more money bet on sports.
00:28This number, $35 billion, comes from the American Gaming
00:32Association, which is the industry lobby.
00:34They monitor pretty much all the legal wagering that goes on.
00:38It would be a 31% rise from last season, which
00:42is pretty significant to me, given
00:44that we don't have that many new states on board this NFL
00:47season.
00:47You only have Maine and Vermont, which are pretty small.
00:50And then the biggest one being North Carolina,
00:52which was kind of the only big significant launch
00:55we had this past year and a half.
00:57So the fact that you're going to have 31% increase in dollars
01:01bet just from adding those new states,
01:03I think that's pretty big news in and of itself.
01:06That means it's not just the bettors in these new states
01:09that are going to be contributing.
01:10You know, Maine and Vermont, there's
01:12not even pro sports teams in those states,
01:14although North Carolina, obviously, is pretty big.
01:17It means that wagering is growing in other states
01:20as well, some of the oldest markets, which
01:21is a really good sign for the industry.
01:23You always talk about when it's going to consolidate,
01:25when are people going to get tired of betting.
01:27If you look at a state like New Jersey, which
01:29was one of the first to launch sports betting,
01:32their wagering is actually up about 23% from last year.
01:37And it keeps going up and up in every other state as well.
01:40So when you talk about companies trying
01:43to figure out how to get more money out of people,
01:45how to get people to bet more, people
01:46are betting more and more.
01:47And it doesn't seem to be stopping.
01:49We only have about 38 states with legal sports
01:52betting in Washington, DC.
01:54So there's definitely some more that we'll probably
01:56add to this number in the coming years.
01:58Maybe you have California, Texas down the line.
02:01Obviously, this number will balloon at that point.
02:03But we don't know when that's going to be.
02:05We don't know what the world of legal sports
02:07betting is going to look like.
02:08Obviously, NFL is a huge draw.
02:10So $35 billion just legally on this season as well.
02:14They estimate a lot of the money still goes to the black market
02:17as well.
02:17So it's a number that continues to go up, which
02:19is a good sign for the industry.