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from Vox

How long before big media companies become big sports-gambling companies?

Sooner than you think. But AT&T, which owns HBO, TNT, and CNN, says they won’t be taking your bets.

By Peter Kafka

As sports betting becomes legal in more states, big companies are becoming interested in getting a piece of the action. Ethan Miller/Getty Images

Sports betting in the US used to be illegal, for the most part. Now it’s up to individual states to decide if they want it. Besides Nevada, which has always had legal sports betting, a handful of states have authorized it, with only New Jersey jumping in completely. But with estimates of US sports gambling hovering around $150 billion annually, it won’t be long before many states decide they want a piece of that action. 

So here’s the question for media companies that are hoping to profit in some way from the billions of dollars gamblers are going to bet on sports: How do we get a slice?

I’ve been talking to people who make money in sports betting and media, and this looks like the way it’s going to play out:

[ click to continue reading at Vox ]

Posted on April 18, 2019 by Editor

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