Legal Sports Betting Needs Its ‘Turf Accountants’

U.S. sports betting is seeing a new kind of numbers person—the accountant.

A number of accounting firms are rolling the dice on the burgeoning line of business as states legalize sports wagering after the U.S. Supreme Court in May overturned a federal law barring states from doing so.

“Accountants are already seeing more work as a result of the court’s decision,” Jeff Hostill, internal audit manager for Avantage USA LP, told Bloomberg Tax. “Bookmakers are known as ‘turf accountants.’ Well, your CPA will become more associated with U.S. sports gaming in the next year than the bookie will be.”

“This ...