A Supreme Court victory for New Jersey could prove to be a victory for sports bettors throughout the entire United States. The court upheld New Jersey’s right to operate online sports books as a part of its legalized gambling structure, thus paving the way for other states to do the same. Betting on the outcomes of football, baseball, and other sporting events could soon be a reality in all areas of the US.
Congress Considers Legalized Sports Betting
New Jersey isn’t the only jurisdiction in the US that has weighed the benefits of permitting sports betting. The US Congress has been debating the issue since 2017. A measure introduced by Rep. Frank Pallone (D-NJ) in 2017 has found favor with both houses of Congress. It is expected that hearings could begin on the matter in the near future.
Sports betting is a big business in America. Millions of dollars are wagered each year at sportsbooks in Las Vegas and Atlantic City. This does not count the millions that are wagered illegally through bookies. Many states have acknowledged that sports betting could be a way to increase state revenues. The money generated from gaming could be used to support various public programs.
There are currently five states which have moved to legalize sports betting: Nevada, Delaware, New Jersey, Mississippi, and West Virginia. Another three states – Pennsylvania, New York, and Rhode Island – have drafted preliminary legislation for sports betting. Many other have measures currently pending before state legislatures.
There is definitely a trend in the US toward permitting residents to gamble on sports. Many believe that this could impact the online gambling industry as a whole, and it may encourage states to allow other casino games online.
How Sports Betting in the US Will Impact Online Gambling
The US has taken a strong stance toward online gambling since it closed down online poker sites several years ago. The country has been hesitant to grant online gaming a full stamp of approval. On the other hand, online horse race betting has been legal for many years in the US.
The approval of sports betting in the US could open he door to nationwide legalization for online casinos that offer blackjack, craps, and other casino games. This has already occurred in jurisdictions such as Nevada and New Jersey. In those states, the online casinos are linked to physical gambling venues in each state. All of them seem to be doing very well, indicating a willingness of the American public to bet online.
It could be that some states will create online gaming venues specifically for sports betting. Others, like Louisiana, have indicated that they will consider sports betting as a part of the states horse racing industry. The state may be willing to add sports betting to the menu at race tracks. Portions of the revenue generated by sports betting could then be used to subsidize racing purses.
States like Mississippi which have already implemented sportsbooks into their live casino operations are reporting significant interest and revenues. MGM Resorts has two casinos in the state that began accepting sports bets on August 1. Check our Bovada racebook review, Twinspires review or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere! Online wagering is not available at this time, but the state has said it intends to allow sports betting with mobile devices in the future.
More topics:
- Sports Betting Could Be Headed To Us Race Tracks
- Which is Better? Sports Betting or Blackjack?
- BetMGM adding a racebook
How PASPA’s Repeal Changed the Landscape for Horse Racing Bettors
The Supreme Court’s 2018 decision striking down PASPA had implications for horse racing bettors that extended beyond the obvious expansion of sports betting options. The legalisation of sports betting in dozens of states created both competitive pressures and partnership opportunities for the horse racing industry that continue to shape the wagering landscape today. On the competitive side, sports betting now competes directly for the discretionary gambling dollars that had historically flowed primarily through horse racing’s pari-mutuel pools — a shift that has contributed to the declining share of total gambling revenue that horse racing commands in many markets.
On the opportunity side, the infrastructure, regulatory frameworks, and consumer behaviour shifts created by sports betting legalisation have provided horse racing with potential new customer pipelines. Sports bettors who are already comfortable with online wagering and who have established accounts at multi-product platforms are natural candidates for introduction to horse racing, and the platforms that have integrated horse racing within their sports betting products have seen meaningful crossover between the two customer bases. The long-term competitive dynamics between sports betting and horse racing will depend heavily on how effectively the racing industry adapts its product and marketing to compete in an environment where bettors have far more options than they did before 2018. For more on the evolving regulatory landscape, our articles on online horse betting legal states and is online horse betting legal cover the current state of play.
