One of the biggest businesses in the United States is undoubtedly sports betting and you might not know but the Super Bowl is the Super Bowl of gambling, related to it. So, the US sports took a huge turn in May of 2018, as the Supreme Court had been responsible for striking a federal law, which had banned betting in several States. Since then, sports wagering increased by almost a billion dollars.
Expanding the market of betting does not mean that it is the end of illegal betting of sports or gambling. According to the industry analysts, the legal market is going to create a completely new class of betting customers, who will be far more interested in engagement with the teams. Migration is indeed being expected from the market; however, it is going to be extremely hard to pull away established bettors from illegal and offshore websites of betting.
The sports betting bills
Several sports betting bills in the state legislatures started following the Supreme Court ruling of 2018. In May of 2018, betting became legal only in Nevada. After 20 months, it became legal in the 20 States, which included Washington DC, as stated by Casey Clark, who is associated with the American Gaming Association, which is in complete support of this industry. According to Clark, a remarkable growth has been observed and it cannot be compared with other industries.
The states that have not made
any attempt to legalize sports betting are very few. Almost 40 States have started
introducing bills for legalizing sports betting after the decision of the
Supreme Court, as stated by Daniel Wallach, who is not only a lawyer but also
the co-founder of the Sports Wagering and Integrity Program of the University
of New Hampshire. Wallach has further stated that numerous states passed
different laws but they were not formally launched or implemented.
As the debate of sports betting
legislation is going on in the entire country, different organizations of
sports betting are undergoing several developments. How the people can place
the bets vary in every state, and every state allows people to bet online or in
person. On the other hand, some states have restricted the method of betting to
a single method.
For example, Wisconsin and
Idaho have hardly any Sports betting legislation, while Pennsylvania and
Indiana allow online and in-person betting. Wallach mentioned that betting
locations like racetracks and casinos are going to become things that happened
in the past.
Apart from the state license
facilities, Washington DC, for example, has opened the opportunity of betting
within bars, sports venues, and restaurants. Several other states like Montana
and Illinois are also contemplating bar-betting. As reported, several other
important laws are going to be passed as well.
The American Gaming Association
has estimated that the Americans wager almost $150 billion in illegal sports
betting every year. According to several estimates of experts, almost 26
million Americans, more than the numbers of 2019, will wager almost $6.8
billion on the Super Bowl match-up, which is a huge number for the new decade.