The Growth of Sports Betting in the United States

Sports betting in the United States is becoming more widespread as more and more states are starting to legalize it. Currently, there are now 23 states with legal sports betting and experts predict that by 2027, around 40 states would already allow the operations of local sports betting.

It has been over two years since the Supreme Court of the United States has stricken down the Professional and Amateur Sports Protection Act or PASPA of 1992. What this meant for the country is that sports betting is finally federally legal and it didn’t take long for a few states to decide on this right away.

States like New Jersey, Pennsylvania, and Delaware only took around a month or two after the Supreme Court’s decision to legalize sports betting within their borders New Jersey was, after all, the state that challenged PASPA because it was really intending to allow sports betting in the state. Mobile betting and casinos are big in this state and so legal sports betting would mean big revenues for the state. Since then, the locals of New Jersey were allowed to wager on sports online and in-person or on apps like Melbet mobile.

Out of the 23 states with legal sports betting, eighteen of these are already regulating this activity. This makes 30 percent of the US population. 16 more states are expected to pass a law on sports betting some time now. States like Washington DC, North Carolina, Tennessee, and Virginia are still preparing to launch sports betting within their territories.

Recently, people in the industry are having the hopes that more states will immediately pass laws concerning sports betting. This is because many states right now are in need of more revenues because of the lockdown.

The lockdowns implemented in different states have affected the local economies and it is likely that they will be desperate to get more revenues in the coming months.

Penn National Gaming CEO Jay Snowden talked about this recently in an interview. “We think that this legalization process that is happening at the state level stands to accelerate, and we really think we’ll benefit from that because we operate in more states than any gaming company in the world,” he said on CNNC’S Power Lunch.

DraftKings CEO Jason Robins also share the same sentiments with Snowden. He thinks that the governments are rightfully prioritizing their response to the current health crisis problem, but he said that with the situation, there could be more openness from governments in the US to legalize sports betting sometime soon.

Robins said, “I think once the pandemic is under control, and maybe some of the economic impacts that result from it become problematic for state budgets, you could see more focus on things that will generate tax revenues.”

He further explained, “That’s not now. There’s a time and place for that later, but I do think there might be an opportunity to engage with states that previously have been on the fence about passing legislation.” 

Due to the pandemic, there have been many major sports events from around the world that have either been canceled or postponed. In the United States, March Madness has been canceled this year. This is one of the most anticipated events in the betting industry as more people would wager on college basketball than the NFL or Superbowl, according to statistics.

Other major sports events like the NBA and the English Premier League have also been postponed. However, the EPL may come back next month and this is something that many punters are looking forward to even in the United States. With this, it is possible that online bookies will start to get more wagers again by next month.

The United States is just really becoming more welcoming when it comes to sports betting. Only a few states remain unmoved about legalizing this activity, like the state of Utah. Recently, Colorado just launched sports betting. The state has finally launched betting on May 1st and this is despite the pandemic. It just shows how the government sees potential in its legislation.

Meanwhile, Michigan, which just passed a sports betting law in December 2019, took another step towards launching sports betting in the state. The state initially planned to launch local sports betting next year, but as early as now, they are now starting the licensing process. Doing this may speed up the launch of betting in the state. It is possible that before the year ends, Michigan will have regulated sports betting.

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