3min chapter

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The Economics of Sports Gambling (Ep. 388 Rebroadcast)

Freakonomics Radio

CHAPTER

The Black Market - Is It Legal?

In nineteen ninety two, the u s. Government passed a law that prohibited states from legalizing sports betting. Four states were grandfathered in nevada, oregon, delaware and montana but betting on actual sporting events was explicitly illegal everywhere else. You might have as much as three hundred billion dollars being bet in the united states every ear. That's what people estimate might be going on under the table, under the table meaning with amateur or professional bookmakers, on the black market....

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