ONEDealers love to do a little action on their favorite sports team and states love the additional tax revenue from legal gambling. Currently, there are roughly 30 states where sports betting is now legal, including 18 that allow online sports betting. That means more than 100 million Americans can place a legal bet where they live.
New York State launches its January 8th eagerly awaited mobile sports betting program. Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive will start what becomes one $ 1 billion market (gross annual gaming revenue) and Bally’s, BetMGM, Wynn Interactive, Resorts World and PointsBet are expected to launch shortly.
Sports betting legalization has spread across the country since 2018 when the Supreme Court repealed the law protecting professional and amateur sports. PASPA had effectively made sports betting illegal in all but Nevada and a few other states. After the ban was lifted, states were allowed to legalize sports betting and start their own programs. The industry is on fire and growing rapidly. The market has grown from 19 states to 32 and Washington, DC in the past 12 months.
As legalization continues to spread across the country, more Americans are wagering more money than ever before. According to the American Gaming Association (AGA) Income tracker for commercial games, U.S. sports betting trade reached $ 42.19 billion from January 2021 to October, almost doubling its wagering stake over the same period in 2020. Legal sports betting held more than $ 400 million in October 2021 alone, according to the AGA.
Maryland, Nebraska, Ohio and Wisconsin are about to start their programs. Florida Sports betting legalized last year through a gambling deal with the state’s Seminole Tribe – a deal that should bring Florida $ 2.5 billion in tax revenue over five years. but a federal judge overturned the dealthat the plan violates the state constitution and Indian federal gambling law. The tribe are appealing the ruling and the state’s mobile sports betting market is currently in limbo.
Check the map below to see where online and in-person sports betting are currently legal in the US