30 Years of Deforestation
Estimates say deforestation practices need to be thwarted by 75% by 2030, in order to effectively manage rising global average temperatures. But when looking at deforestation data over the last 30 years, it’s clear we’ve gone in the opposite direction.
This sponsored graphic from The LEAF Coalition looks at the total land lost to deforestation since the 1990s and compares it to the total land in the U.S. as a point of reference.
The Rise and Fall of Forests
Approximately 4% of the world’s forests have been lost since the 1990s. This is equivalent to 177.5 million hectares or 685,000 square miles, and greater than the total land area of 179 countries in the world. In addition, this covers one-fifth of the land in America. Here’s how the average global annual net change in forest area looks on a decade-by-decade basis.
Global Annual Forest Area Net Change (Hectares)
A silver lining here is that in the most recent decade that’s passed we’ve seen a reduction in the amount of deforestation. Compared to the late 1990s, the decade between 2010 and 2020 has seen yearly deforestation reduce by 3.1 million hectares from 7.8 million to 4.7 million.
However, there’s still plenty of work that needs to be done and the devastating impact deforestation has on the environment cannot be understated.
Not Out of the Woods Yet
By some estimates , 30% of the globe’s carbon emissions are absorbed by forests each year. In order to keep our global average temperatures at 1.5°C, action needs to ramp up to diminish deforestation. One solution is to open up funding and participation to the private sector and bridge their efforts with that of the public sector.
Swift action is required in order to slow deforestation and decelerate rising average temperatures. See how The LEAF Coalition , a public-private initiative is accelerating climate action by providing results-based finance to countries committed to protecting tropical forests.
Mapped: Legal Sports Betting Totals by State
In 2022, legal sports betting in the U.S. totaled over $93 billion. Which states saw the most and least wagers? (Sponsored post)
Legal Sports Betting Totals by State
Which states are driving the legal sports betting market, and which have not yet become major players? The answer is fueled by each state’s legalization status, population, and other factors.
In this graphic from Roundhill Investments , we show a breakdown of legal sports betting by state.
A State View of Legal Sports Betting
In 2022, sports betting was live in 31 states plus Washington, D.C. Betting activity is highly concentrated, with the top five states accounting for 57% of the total reported legal wagers.
|State/District||Legal Sports Wagers in 2022|
|New Mexico||Legal, no data|
|North Carolina||Legal, no data|
|North Dakota||Legal, no data|
|Washington State||Legal, no data|
|Wisconsin||Legal, no data|
|Massachusetts||Legal, became operational in 2023|
|Ohio||Legal, became operational in 2023|
|Florida||Legal, not yet operational|
|Maine||Legal, not yet operational|
|Nebraska||Legal, not yet operational|
|South Carolina||Not legal|
New York State had the most legal sports betting, largely because it was the most populous state to allow online sports wagers so far. Notably, 1.2 million accounts were created in the first 10 days of legalization. New York also has multiple teams across all four major sports—football, basketball, baseball and hockey—which boosts local interest.
New Jersey took the second spot. The state challenged the federal ban against legal sports betting, winning their case in 2018. New Jersey has since rapidly established itself as a sports betting hub, thanks to its established gaming regulations, prime location near New York City and Philadelphia, and strong gaming and tech infrastructure.
Illinois had the third highest annual total, and beat its prior state record with $1 billion in wagers in October alone. One key factor was a change to the registration process in 2022, which allowed residents to sign up online rather than in-person at a casino. Not only that, the state is home to some popular teams including the Chicago Bulls, who have the third-largest social media following of any NBA team.
Smaller, and Not Yet Legal, Markets
South Dakota had the lowest legal sports betting of the states with reported totals. The state only allows in-person betting in the city of Deadwood and at tribal casinos, with the latter not reporting the total bets they receive. Online sports betting is not yet legal in the state unless the bettor is physically at a Deadwood casino.
Montana had the second smallest total bets. The state has a small population and no major league professional sports teams. Not only that, sports betting in the state is government-run rather than a competitive market. Like South Dakota, online bets can only be placed when the bettor is physically present at a retailer.
Notably, the most populous states of California, Texas, and Florida do not yet have legal and/or operational sports betting. Together, the three states represent 27% of the total U.S. population. Sports betting was initially legal in Florida but has been paused due to ongoing legal proceedings.
Expanding Geographic Reach
Legal sports betting has expanded significantly since the federal ban was lifted in 2018. However, 17 states have not yet legalized sports betting in any form, and some states could see growth from allowing online betting.
As more states proceed with legalization, the consumer base is likely to continue expanding. This creates a revenue opportunity for sportsbook operators. In fact, Goldman Sachs estimates that the total revenue opportunity could grow from $900 million in 2021 to $39 billion by 2033.
Looking for exposure to the growing sports betting industry? Explore Roundhill’s sports betting ETF, $BETZ .
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