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Sports betting is everywhere, so why is the black market thriving?

By Danny Funt
Washington Post·
10 mins to read

Legal sports betting was supposed to put the black market out of business. Instead, even as regulated sportsbooks have become a ubiquitous part of the United States sports landscape, unsanctioned bookmakers continue to attract billions of dollars annually from Americans. That’s why regulators in six states where sports betting is legal recently ordered Bovada, a prominent offshore sportsbook based in Curacao, to stop taking online bets from residents.

To some, the cease-and-desist letters from Colorado, Connecticut, Louisiana, Michigan, Ohio

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