There’s no doubt that over the past ten years have been difficult for sports betting in the United States. The issue has been laws that forced most legitimate bookmakers out of the market. Therefore, players in the United States had to choose from limited payment options with bookmakers offshore. But now, the industry is looking brighter after many states opened the door and legal betting sites such as BetOnline are slowly heading in the right direction.
A big issue over the past several decades was that the Professional and Amateur Sports Protection Act (PASPA) provided a roadblock for states, preventing them from allowing legal sports gambling. There were only a few exceptions, most notably, Las Vegas. However, since the U.S. Supreme Court decided to revoke the PASPA in 2018, states began to have power to do what they wish with online gambling.
States such as Illinois, Delaware, and New Jersey have legalized sports betting with many others working on it. While there are debates ongoing, bill drafts will gradually lead to more legalized sports betting across the country. It is widely expected that in the not-too-distant future that the majority of the states will legalize some form of online gambling.
There has been a change in mentality among most states because they see that disallowing sports gambling doesn’t sit well with many people. There are some websites that still allow those in the United States ways to play casino games or bet using NBA point spread or NFL point spread etc. However, many of these sites are not reliably licensed and pose a high risk. Basically, users are being provided an inferior service and the state isn’t getting and tax money from it.
With a well-thought, comprehensive, intelligent legislation in place that opens the door to new sports betting sites, everything can change. The fact that a few states have opened will lead the way to others to follow suit.
Americans are leading the way in remote betting, placing over 75 percent of their bets remotely. This information comes from the 19 states that provide regulated, legal sports betting. During the election cycle of 202, three more states approved gambling legislation.
Last year the industry had losses over the summer months, but there was a 75 percent increase in activity in September compared to 2019 and the highest output since PASPA was revoked. Cancellations and delays of seasons due to COVID-19 was a primary reason for the increased activity in September with the conclusions of the NBA and NHL season and the beginning of the NFL.
David Henwood, Director of H2 Gambling Capital is very optimistic moving forward. He sees the United States as the numero uno in the sports betting market. It’s easy to see why investors are hesitant about the market potential given regulated gambling is still available to less than one-quarter of the country’s population. In addition, there is increasing popularity in live betting option, so investing in this option could be a very safe play.
The exciting news for sports betting enthusiasts in the United States is that it is clearly heading in the right direction and the projection is that most areas of the country will have legalized betting sooner instead of later.