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ABC Las Vegas: Casino Industry to Tackle Massive Illegal Sports Gambling Market A guide to modeling analyses for financial and sports gambling markets, with a focus on major current events. Addressing the highly competitive and risky. I use sports betting markets as a laboratory to test behavioral theories of . The cross-section of idiosyncratic sports bets provides a unique asset pricing. The global sports betting market is worth up to $3-trillion, the vast majority of that generated by illegal gambling, a United Nations conference.