'An insatiable acquisitions appetite': Sports betting industry facing major challenges despite growth

Thirty-seven states and the District of Columbia have legal betting, with Missouri poised to come on board this year .

Betting, an extremely popular yet once illicit American pastime, has exploded out of the shadows and into the mainstream.

Gambling companies spent $434.4 million on sportsbook commercials in 2024 , in line with the advertising spent on asthma and COPD prescription drugs.

Lawmaker: "Our industry will never be as successful if we're predatory" Polls show bipartisan support for legalized sports betting.

U.S. Senate Judiciary Committee held hearing on " America 's High-Stakes Bet on Legalized Sports Gambling " NCAA president Charlie Baker encouraged the committee to prohibit prop betting on collegiate athletes.

Former NBA player Jontay Porter is the first American athlete to admit manipulating his performance in a gambling scheme.

MLB umpire was fired in February after an investigation revealed that he shared a sportsbook account with an associate who was betting on baseball.

A new wave of aggressive companies -- sports prediction markets and sweepstakes operators -- are challenging the current bookmakers.