3 Sports Betting Stocks to Buy for the NFL Season Football season is officially underway and this year is expected to be huge for sports betting stocks, particularly for wagers placed online. Since 2018, a total of 30 U.S. states have legalized sports betting, including 21 states that now allow online betting. Governments have warmed to sports betting as they see it as a way to generate new tax revenue and replenish coffers that were depleted during the Covid-19 pandemic. Americans love to bet on sports. According to the American Gaming Association, more than $125 billion has been wagered on sports since a 2018 Supreme Court decision that enabled all 50 states to offer online sports betting. In 2021 alone, Americans bet $57.2 billion on sporting events, an annual increase of 165%. Among sports betting, football is king. The American Gaming Association estimates that 45 million Americans placed bets on NFL games during the 2021 season and is forecasting even more betting to take place this season. A total of $7.61 billion was wagered on the Super Bowl this past February.