How the US Sports Betting Industry is Doing Since its Legalization

In May 2018, the Supreme Court of the United States found the Professional and Amateur Sports Protection Act of 1992 as unconstitutional. This meant that sports betting is finally federally legal. However, each local state government will still decide whether they will have this legalized and regulated.

The Supreme Court came to this decision because New Jersey made an attempt to challenge the PASPA of 1992 in court. This is because this state was attempting to legalize sports betting.

Since this decision, Delaware became the first state to take action and legalize local sports betting. This state didn’t have a hard time launching sports betting as in 2009, the stare passed a law that allowed lottery operators to expand forms of Parlay before it was federally banned. Delaware operators started to take bets since June 5, 2018. Just around a month after PASPA was stricken down.

During the same month, New Jersey also launched legal local sports betting to its locals. Right now, New Jersey is one of the biggest sports betting market in the US. In fact, in June of this year, it was able to surpass what Nevada earned from sports wagering. Many see New Jersey as the biggest rival of Nevada when it comes to this.

Speaking of rivals, another state seems to be up and coming when it comes to huge sports betting revenues. Indiana has legalized sports betting in May of this year and was able to launch it on September 1, 2019.

Indiana’s sports betting market rocketed particularly in the month of November as it climbs up at 61 percent. It was reported that it earned over 100 million US dollars just for the month of November.

What really boosted the growth of the local sports betting revenue in Indiana is mobile or online betting. DraftKings is on the lead when it comes to the most number or amount of bets that were processed. DraftKings had a 64. 1 million US dollar handle.

This was followed by FanDuel with a handle of 23.7 million US dollars and BetRivers with a handle of 8.4 million US dollars. Overall, these big three bookies in the state accounted for 65 percent of the sports gambling revenue in Indiana.

With its upward trend, there may be a chance in the future that this state will compete with New Jersey and Nevada when it comes to having the most sports betting revenues.

Meanwhile, things are different from the state of New York. This state approved a bill concerning the legalization of sports betting in June of this year. Surely, this was a big step for the state, but there was something lacking.

Mobile or online sports betting is still not legal in New York despite the launch of sports wagering here in July through the Rivers Casino in Schenectady.

The lack of mobile sports betting in New York may have caused its over 40 percent slip in the month of November in terms of gambling revenues. After all, punters will have to bet in person at licensed casinos and bookies. The issue is that most of these places are located upstate.

This is quite a trouble for punters as many of them would rather place bets mobile or online with their devices. It’s simply convenient to check in on sports like football, basketball, and cricket predictions online and also place their bets online.

New York may still eventually legalize mobile sports betting but ut may not happen any time soon because its legislation will include a change in New York’s constitution. Doing this may take until some time in 2022, and so local punters will still have to wait for this.

Currently, there are now a total of 19 states in the US that has already legalized sports betting. Some of these states are West Virginia, Colorado, Illinois, Rhode Island, Mississippi, New Hampshire, and New Mexico.

Aside from the 19 states, most other states already have pending actions regarding this matter. Some of these are the states of Maine, Kentucky, Maryland, Minnesota, and Massachusetts.

The states that remain unmoved about legalizing sports betting are Alaska, Idaho, Nebraska, Wisconsin, and Wyoming. It’s not that they don’t want to, but these states have no announcements regarding this yet. Only the state of Utah is unlikely to legalize this at all as its simply unconstitutional and part of their laws.

Overall, the United States is quickly adapting sports betting since the Supreme Court’s decision about PASPA. It is possible that it would eventually compete with bigger sports betting industries like in the UK.

About RJ Frometa

Head Honcho, Editor in Chief and writer here on VENTS. I don't like walking on the beach, but I love playing the guitar and geeking out about music. I am also a movie maniac and 6 hours sleeper.

Check Also

Top digital marketing tips for beginners

Same as large businesses, small businesses also necessitate investing in different sorts of strategies for …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.