Online betting has been much debated in the United States, but with a bill passed to enable the legalisation of online sports betting across states, the wheels are in motion and a revolution has begun.
So far eight states have legalised sports betting online, and many more are expected to follow throughout 2019.
In those states more and more online sportsbook sites are opening every month with companies like Gambler Saloon offering a huge variety of betting offers for events right across the world.
That’s seen revenue across the legalised states soar. In New Jersey, Draftkings saw revenue of $2.9million in August alone and overall online gaming makes up a third of the state’s total sportsbook revenue. That’s despite only three companies operating in the state.
It’s not just in New Jersey that’s profiting from the legislation though, with the likes of Nevada, Delaware, Mississippi and West Virginia all benefiting.
2019 is set to welcome New York and Arkansas, although the former hasn’t had the smoothest road to passing the bill in the past.
Many others are close to legalisation too. But how will it change things in the states?
Firstly, it’ll make betting easier than ever before for punters and punters will take advantage of that.
It’s estimated in Britain, where online gambling has been legal for many years, over half of adults play, creating an industry worth £14.4billion. Which has a lot of benefit to the country as a whole too.
It’s estimated that £1.5billion of that has been used for good causes via taxing as well as the industry employing over 100,000 people.
That figure could be exponentially bigger in the US if rolled out across the country, seeing huge benefits from taxes as well as those who wish to play with ease.
In Delaware, sportsbook betting has been bringing in around $15million in betting in the early stages of its roll out, and that’s with a population of less than a million in the state.
It isn’t just the gambling industry who are benefitting though, it’s opening all sorts of doors for sports franchises too.
In the UK and throughout Europe, the majority of major sports clubs have associations with betting companies. In fact, 60% of the English league’s top two divisions have gambling companies as short sponsors with many more having official gaming partners.
That is making its way into US sport. The NBA has signed multiple deals with gaming companies since legislation came into play, recently announcing a first data-betting partner as well as a European betting partner.
In baseball MLB are striking similar deals, announcing a partnership with MGM just a few days ago.
This is a significant moment in US sport history as it will massively increase the revenue streams of the organisation, just as it has the Premier League and soccer clubs across the globe.
Franchises are also taking this route. The New York Jets have signed a similar deal with MGM in what is a landmark deal on top of their casino deal with 888 Casino.
The Philadelphia 76ers and New Jersey Devils have also signed partnership deals with Caesars and its expected many more will follow as franchises look to significantly improve revenue streams.
There’s going to be considerable change across everything related with online gambling over the next few years which, as long as it’s well regulated, could be revolutionary for sports leagues and punters alike.