Speaky Magazine
  • Home
  • About
  • Celebrity Gossip
    • Scandal
  • Lifestyle
    • Shopping
    • Fashion
    • Wedding
  • Tourism
    • Places
  • Trends
    • Opportunities
  • Renovation
    • Exterior Design
    • Interior Design
    • Garage
    • Gardening
  • High Tech
    • Devices
    • Digital Marketing 
    • Internet
  • Games/Sports
  • Vehicle
  • Well-being
    • Diet
    • Exercise
    • Fitness
    • Healthy Food
    • Natural Remedies
    • Spa
    • Yoga
  • Write for us
  • Privacy
  • Contact US
Home  /  Trends  /  The Growth of sports betting in the US

The Growth of sports betting in the US

Alonzo Walker April 14, 2021 Trends Leave a Comment

Three years ago, US states were finally given the power to legalize sports betting, and the industry has spectacularly grown since then. The 2018 ruling by the Supreme Court ended years of intense debate triggered by the 1992 Professional and Amateur Sports Protection Act (PASPA), which effectively outlawed sports betting in most US states. In the intervening years, only a few states such as Nevada (home of gambling mecca Las Vegas) had been allowed to legally host the practice. Just a few years later, and things couldn’t look any more different.

Within the first two years of legalization in several states, more than $20 billion had been bet with online sportsbooks in the US. And since then, it has only continued to grow further – in October 2020, it was reported that Americans legally bet an estimated $3 billion on sports for the first time in a single month. Sports betting revenue was, consequently, up by 53.5% year over year for a sum of $237.5 million. This is all the more impressive considering the decreased amount of games played this season.

In fact, several records were broken towards the end of 2020. In December, New Jersey set the national sports betting record for the fifth consecutive month, raking in $996.3 million in bets. On top of this, five other states (Colorado, Iowa, Ohio, Pennsylvania and South Dakota) made more income from betting that month than during the equivalent period in 2019. This shows a staggering increase on the number of people opting to bet at an online sportsbook year on year.

How states are making it legal to use online betting sites

Of course, not all states have legalized sports betting as of 2021, but now 20 states have passed bills to allow it, while an additional six have introduced legislation that soon could make this a reality. And in the states that have passed bills, laws do differ, with online betting not given the green light across the board.

In four states (Arkansas, Delaware, New Mexico and New York), only physical sportsbooks have been legalized, although there are early signs of steps towards online betting being allowed. New York Gov Andrew Cuomo has expressed interest in legalizing online betting, seeing it as a new way of generating revenue for the state.

Mississippi and Montana are two states that have introduced “in-person online” betting, which legalizes the use of online sportsbooks – but only if you’re using them inside a casino. Montana only has one legal app available, and its functionality prohibits players from using it when outside casino premises.

And then there are four states which are limited to a single online betting option. Washington D.C, Rhode Island, Oregon and New Hampshire have all seen an increase in new retail sportsbooks opening in each state, largely due to the lack of choice exhibited by the mobile apps available. At the time of writing, only eleven states have no limits on the number of online betting vendors allowed to operate; Colorado, Illinois, Indiana, Iowa, Michigan, Nevada, New Jersey, Pennsylvania, Tennessee, Virginia and West Virginia. Unsurprisingly, several of these states are among the most robust markets in the sector, generating billions of dollars in revenue in 2020.

What the future holds 

There are five additional states that are likely to start accepting bets in 2021. In 2020, voters in 55 of the 64 state parishes in Louisiana supported legal sports betting, but no further legislation has yet been announced to determine whether this will just be retail sportsbooks, or if online betting will be given the go ahead too. Either way, it has clear public support, especially in potential key markets like New Orleans, Baton Rouge and Lafayette.

Maryland similarly said yes to legalizing gambling in the 2020 election, and with bi-partisan support for physical and online sports betting, it’s highly likely both will be approved in any upcoming legislation. South Dakota has similarly voted in favor, but there’s still uncertainty as to whether this will only cater for retail betting.

North Carolina and Washington have both approved sports betting as well, but are still waiting to take their face bet. In the case of the former, laws were passed all the way back in 2019, with the two casinos they were passed for still yet to open for business – it is expected they will consider the approval of mobile betting this year.

By the end of 2021, experts predict that the wheels to legalize the sector may start turning in both Florida and Texas, with the dire budget state in the latter highlighted as a possible cause. And then there are ten states where legislation is still under consideration; Arizona, Connecticut, Georgia, Kansas, Kentucky, Massachusetts, Missouri, Ohio and Vermont. Only in Maine has a bill been vetoed by a governor so far.

With more sporting associations partnering with online sportsbooks, it seems the industry is prepared for more states to pass legislation soon. All analysts are pointing to signs of major growth in the sector by 2025 – but if the above states do start passing laws, the biggest changes may happen before the end of next year.

Previous Article
Next Article

About Author

Alonzo Walker

Meet Alonzo, a talented writer with a passion for storytelling. With 7 years of experience, he brings a unique perspective to every piece.

Related Posts

  • What is the disposal method for batteries?

    Eco-Friendly Disposal Methods for Old Power Tool Batteries and Components

    January 22, 2025
  • How to reduce territorial aggression in cats?

    7 Proven Ways to Reduce Inter-Cat Aggression With Environmental Changes

    January 2, 2025
  • Why choose engineered wood flooring?

    Why choose engineered wood flooring?

    December 20, 2024

Leave a Reply

Cancel reply

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

Search

About Speaky Magazine

Speaky Magazine was founded in January 13, 2018; more than 1 and half yeas ago. The context has changed, although the basic concern remains: to guide the reader through a trends perspective of reality (local and global), helping him to form an informed, well-founded and mature judgment on the issues discussed in society. In other words, contribute to the formation of a conscience capable of discerning.

Read more…..

Write for Speaky Magazine

We are looking for writers, bloggers and journalists to write unique and useful articles about lifestyle and daily trends. Topics include: Decor, small business ideas, sports, lifestyle, fashion, relationship, wedding ideas, photography tips, travel tips and many more.

Read more….

Popular post

  • AI apps helping refugees learn languagesHow AI Apps Are Helping Refugees Learn Languages: A Journey of Connection
  • budgeting strategies for irregular income8 Budgeting Strategies for Irregular Income: Thrive Financially
  • clever hacks to fix uneven cutting boardsHow to Fix Uneven Cutting Boards: 7 Clever Hacks You’ll Wish You Knew
  • best way to store batteries safelyBest Way to Store Batteries Safely: A Comprehensive Guide
  • tea tree oil remedies for dry scalp flakinessSoothing Your Scalp: Effective Tea Tree Oil Remedies for Dry Flakiness

Random Posts

  • What is digital marketing January 20, 2022
  • The Next Gen: How Do They Stack Up? October 14, 2020
  • What is Stainless Steel? January 17, 2022
  • Moving overseas
    Moving overseas checklist April 6, 2021

Category Posts

  • What is the disposal method for batteries?
    Eco-Friendly Disposal Methods for Old Power Tool Batteries and Components January 22, 2025
  • How to reduce territorial aggression in cats?
    7 Proven Ways to Reduce Inter-Cat Aggression With Environmental Changes January 2, 2025
  • Why choose engineered wood flooring? December 20, 2024
  • Can wax be washed out of clothes?
    How to Rescue Your Wool Clothes from Candle Wax Mishaps June 7, 2024

Categories

  • Business
  • Celebrity Gossip
  • Devices
  • Diet
  • Digital Marketing 
  • Education
  • Entertainment
  • Exercise
  • Exterior Design
  • Fashion
  • Fitness
  • Food and Drink
  • Furniture
  • Games/Sports
  • Garage
  • Gardening
  • Gift Ideas
  • Healthy Food
  • High Tech
  • Interior Design
  • Internet
  • Lifestyle
  • Mountain
  • Natural Remedies
  • Opportunities
  • Pet Care
  • Places
  • Plumbing
  • Renovation
  • Reviews
  • Sea
  • Shopping
  • Social Media
  • Spa
  • Tourism
  • Trends
  • Vehicle
  • Wedding
  • Well-being
  • Yoga

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • August 2012
Theme by ThemesPie | Proudly Powered by WordPress