T20 World Cup 2024: This country bets 10 lakh crores annually in sports, now cricket has entered here

T20 World Cup 2024 is being organized in the West Indies and the United States of America (USA). This is the first time that the Cricket World Cup is being organized in America. As soon as the Cricket World Cup comes, the betting market heats up in many countries. In India, Pakistan, UAE, and all the countries of the world, several lakh crores are bet on cricket.

In America, cricket is not that popular. However, bets on other sports here total about 10 lakh crores annually. This time, cricket has also entered the picture in this circumstance. It will be interesting to observe how the betting market performs in light of the 2024 T20 World Cup organization. The US did not regulate sports betting for a long time, like many other nations. Federal law outlawed sports betting in all US states in 1992. However, the Supreme Court made a significant ruling in 2018 that lifted the prohibition and made betting legal once more.

The US Supreme Court said that when this game of money is going on despite the ban, then why not recognize it. At present, sports betting is legally recognized in 38 out of 50 states of America. According to the American Gaming Association, in 2023, America bet $ 119.84 billion, i.e. about Rs 10 lakh crore according to Indian currency, in sports. This amount is 27.5% more than in 2022.

With the increasing interest of people in betting in America, the revenue of American betting companies is also increasing every year. In 2023, American betting companies generated a revenue of $10.92 billion, i.e. about 90 thousand crores rupees in Indian currency. Most betting in America is done on football. After this comes basketball and baseball. Betting is also done on horse racing, hockey, and car racing in America.