Illegal Horse Betting Markets

Pari-mutuel betting is currently legal in 32 US states. Due to new legislation horse race betting in the US could change significantly in the near future.

The legal market handle on horse racing in the United States in 2018 was $11.26 billion while experts predict the illegal sports betting market could be anywhere from $80 billion to $150 billion annually.

Expect tighter controls in the future to move some of this across to the legal market, for governments to get the tax revenue. Even just a tiny amount will turn the dial. But of course, some of this will never come across.