The real opportunity, a $100 billion opportunity, is expanding and modernizing the lottery for a younger, tech savvy gambler, says Sullivan. ![]() The gaming industry is focused on expanding sports betting, which is currently legal in 36 states, but DraftKings, FanDuel, Caesars, Wynn, and others are fighting over table scraps. “It makes playing the lottery easier and more fun.” “It's a very simple business,” Mark Cuban says of his investment in Jackpocket. To put that in perspective, slots and table games across the country’s casinos generated less than half that, $43.79 billion, in 2022 (from January through November), while sportsbooks rang up $6.56 billion during the same time. In 2021, gamblers spent $98 billion on lottery tickets, according to the North American Association of State and Provincial Lotteries. While sports betting gets all the headlines, state lotteries are the gambling industry’s cash cow.
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