Sports betting will be no home run for state budgets

ATLANTIC CITY, N.J. (AP) — The race to legalize sports betting is on now that the U.S. Supreme Court has allowed it in all 50 states, but states shouldn’t expect to hit the jackpot with extra tax revenue.
Just look to the handful of states that capitalized immediately after the court’s ruling last spring and to Nevada, which previously had an effective monopoly on sports gambling. Even though the market is still developing, the returns to date have been modest.
In Nevada, reven