It’s legal to bet on sports in Nevada, and some research suggests that Americans wage at least $500 billion each year on sporting events. However, only about 1% of this betting is legal. In 2013, New...

It’s legal to bet on sports in Nevada, and some research suggests that Americans wage at least $500 billion each year on sporting events. However, only about 1% of this betting is legal. In 2013, New Jersey filed a suit to win the right to allow betting on all the major sports. The purpose was to increase state revenue from this billion-dollar business. According to Baseball Press, the mean amount bet on each Major League baseball game is $8.85 million.44 A random sample of Major League baseball games is obtained, and the amount legally bet in Nevada on each game is given in the following table (in millions of dollars).