012815_AGASportsinfographic_300According to a first-ever estimate by the American Gaming Association (AGA), Americans will make $3.8 billion worth of illegal bets on this year’s Super Bowl between the New England Patriots and Seattle Seahawks. That figure stands in stark contrast to the approximately $100 million bet legally on the Super Bowl each year. In fact, the illegal market is 38 times greater than the legal one.

“Current law banning sports betting is clearly failing,” said Geoff Freeman, president and CEO of the AGA. “The AGA is closely examining the current state of sports betting, the laws that govern it and the best way forward for the gaming industry.”

Freeman will announce the numbers during a keynote speech, “Gaming – What it Means for America’s Cities,” at the US Conference of Mayors’ 83rd Winter Meeting in Washington, DC. To read the full text of Freeman’s remarks, as prepared for delivery, please click here. Today, four states allow some form of sports betting, and the majority of such legal betting takes places in Las Vegas.

This month, in response to new guidance on sports books from the Financial Crimes Enforcement Network (FinCEN), the AGA urged further scrutiny of illegal sports betting. In November, the AGA announced it would work to identify the size and scope of the illegal sports betting market.

A recent poll conducted by two prominent political pollsters found that voters across the political spectrum view gaming more favorably than ever before.