Nearly $10 Billion to Be Illegally Bet During March Madness

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America's gambling industry predicts nearly $10 billion will be illegally bet on during the March Madness college basketball tournament.

The American Gaming Association says this is just one of the reasons why it is in favor of fully legalizing and regulating sports betting in the United States.

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The group found that 54 million people, or about a quarter of the country's adult population, has participated in a sports betting pool last year, and stated that only three-percent of the $10 billion the group predicts will be done in states were sports betting is currently legal.

The United States Supreme Court is just weeks away from ruling on New Jersey's challenge to reverse a law that makes sports betting illegal in all but four states. The challenge would help legalize sports betting in New Jersey. 

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