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The proliferation of sports betting in the U.S. has led to a multibillion-dollar industry, with 38 states and D.C. allowing sports betting. However, concerns are rising about the culture of addiction and the risk of money laundering associated with the industry, as highlighted by recent cases involving FanDuel. Pro leagues and major networks are also criticized for potentially undermining the value of sports in their pursuit of profits.
Pro sports and the betting around it launders money for despots and drug traffickers. It needs to be cleaned out on national security grounds. https://t.co/Gx9GxQ4LBg
NEW: Massachusetts generated $594M in gross gaming revenue in its first full year of regulated sports betting. The Bay State is home to six online sportsbooks that combine for more than 1.6 million active accounts. https://t.co/NC4hqscDHF
Sports betting has become increasingly popular in the U.S. But it has also introduced a greater attack surface for money laundering, as one crew allegedly moved millions through one sports betting platform. https://t.co/yFouQi4mNP
