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Perspectives

Legal sports betting legislation

Accounting and financial reporting implications

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The US sports betting landscape

Join Consumer Speaks host Rich Paul, Deloitte’s Audit & Assurance Consumer industry leader, as he and Jeff Ortwein, Deloitte’s Audit & Assurance Gaming sector leader, discuss the impact of recent sports betting legislation and the current regulatory environment, including the implications for accounting and financial reporting. They’ll explore how states are approaching sports betting through technology platforms and licensing, as well as the impact on creating new ventures or partnerships in a highly regulated industry.

Online sports betting has turned out to be wildly successful.

How legalization impacts sports betting economics

Americans place $50 billion to $60 billion a year in illegal sports bets, dwarfing the legal $5 billion in Nevada sports betting. This represents a potentially enormous market now that states can decide whether to legalize sports gambling. Although exciting, uncertainties remain that will impact industry size, scale, and opportunity moving forward.

2021 sports industry outlook

In 2020, two game-changing shifts affected the US sports industry: the COVID-19 pandemic and the social justice movement. According to US sports leader Pete Giorgio, sports organizations can position themselves to thrive in 2021 by addressing key opportunities, from fan engagement to advanced technology to the role of sports in society.

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About Consumer Speaks

On the Consumer Speaks accounting and reporting podcast series, you’ll hear from our Deloitte leaders and professionals as they share their experiences and insights on timely topics across the automotive, consumer products, retail, wholesale and distribution, transportation, hospitality, and services industries. Stay informed on the hottest topics facing these industries and how they can affect your business.

Subscribe today and visit the Consumer Speaks library for the full collection of episodes.

This podcast contains general information only and Deloitte is not, by means of this podcast, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This podcast is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this podcast.

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