It’s been 5 years since the Supreme Court struck down the federal ban on sports betting in 2018. Post that verdict, Legal Sports Betting is now available in more than 35+ states in the United State Of America. The verdicts also allow the state to legalize if they wish. However, the question remains the same where are we now? Where do we stand now in the US Sports Betting world? Which states are doing it, and which ones are going to be the next on the list?
Keep reading this piece till the end to get aware of the current sports betting scene in the world.
States Who Have Legalised Sports Betting In the USA
Now, that you have become aware of the states and their current status regarding the adaption in the US Sports Betting industry. Let’s learn what’s next could be expected in the coming time.
Quick Update Of States Who Have Legalised Sports Betting & How They Are Progressing?
- Texas, the state famous for its prosperous economy & low taxes, also ranks 3 in nation for contributing $4.15 billion generated alone by the video game industry, is next on the list to legalize or at least make legislative progress on online betting this year.
- Sports betting legislation for Missouri had passed the house easily in 2023 however, it failed to gain approval through the Senate. But hopefully, in 2024, we may expect the Legalization efforts to begin showing up again. And unlike the previous failures, there is a substantial appetite from both government and industry players including business owners to legalize online sports betting in Missouri.
- Maine, the state who has legalized sports betting in July 2022 is making remarkable progress in sports betting legislation. However, the official date is yet to be determined by the state.
- Another on the list is Kentucky. Kentucky became the 37th state to permit online betting on March, 23 when GOV. Andy Bashear signed the law. However, the state is yet to finalize the first sportsbook and may get it approved by the end of 2023.
- Nebraska is also making significant progress in sports betting legislation. They are doing well in the regulation phase and once the launch date gets finalized, they would make it better for the players as well.
What States On Join Next?
Vermont & North Carolina are the two states that have recently passed & legalized sports betting.
Vermont:
Just a few days back, on Jun 14, 2023, Vermont has become the 38th state to legalize sports betting after GOV. Phil Scott signed a bill. Scott said that he proposed Vermont legalize sports betting several years ago and today he’s happy the legislature has finally agreed to their decision.
According to the new House Bill 127, Vermont has outlined its plan to set a regulated market to launch in Jan 2024. The legislation allows for the introduction of up to 6 online sportsbooks to go live.
North Carolina:
North Carolina is the other state to legalize sports betting on the same date as Vermont did. House Bill 347, signed by the GOV. Roy Cooper was first passed on March 13 & its final form was presented on June 9, 23.
Texas:
When we speak about who’s next or what’s next, Texas is one state you can’t miss talking about and so no experts miss on that too. Unfortunately, the last May itself, no movement around the Sports Bill was recorded in the legislation. Everyone be it a player or the game betting experts is waiting for online betting to get legalized at the earliest.
But The Uncovered Route Isn’t As Easy As It Looks!!
Texas’ lapse in the last session, Missouri’s failure in getting the bill passed, and California’s referendum debacle, are a notable collection of few states, proving that it’s still difficult to push sports betting in the line. Everyone including legislative members, citizens, and even players must unite to make it work.
Setbacks can bring anyone down. Remember, if one piece doesn’t fit, the legislation or the state may risk long delays or big blunders. One such incident happened last year when a wave of negative media panned the entire sports betting industry in the country. Though some of these allegations were genuine and fair, others showed a stark misunderstanding in the industry.
Better Delay Than Never!
Consumer protection rights play a crucial role in the legislation or the legislative process. We can accept some delay but compromise with the rights or protection not be entertained, said a lawmaker.
Brendan Bussmann, a managing partner at B Global, throws light on the need for the industry to improve its efforts in educating & communicating its story effectively. He also stated that there is a clear void in channeling the messages and considers grapevine conversation the main reason why it’s ruining the seamless process of transition in the online gaming industry.
We don’t want to be politically incorrect but we assume that just because legalizing sports betting rank low on the political agenda, such delays in legalizing US Sports Betting can be expected.
Scope Of US Sports Betting
Post approval of the PASPA in the USA, Revenue in US online sports betting is expected to reach US $7.2bn by the end of the year 2023. That’s massive, right? And once all the above-mentioned states including Texas, Missouri, and more will legalize the betting, you may expect this revenue count to rise beyond $50bn in just 5 years.
This legalization will also depict interesting sportsbook developments in the upcoming times or years.
- The majority of professional and famous sports leagues will look out for more lucrative ways to increase the profit share of both players and league sponsors.
- This will open the door of utilization for high technology and you may expect significant growth in terms of employment as well.
- Since mobile is the big thing in today’s digital era, you may expect mobile wagering to bring new sports betting players into the industry seeking out ways to generate more revenue and considerable profit.
- Lastly, more businesses will come forward to create new sportsbooks and other betting platforms. They may onboard affiliates as well to promote their platform as well and the result can be tracked using an efficient tracking platform like Affnook.
Bottomline
Lastly, to conclude, the current position of the US Sports Betting industry is offers plenty of opportunities to everyone associated with the gaming industry. Navigating state regulations and leveraging cutting-edge marketing strategies will be important to take advantage of ongoing growth.
With a booming market and constantly evolving legal landscape, staying informed and adaptable is crucial for long-term success in US sports betting.
