Legal Sports Betting in the US: What Is the Situation Now?
A little over four months have passed since the US Supreme Court repealed the notorious Professional and Amateur Sports Protection Act (PASPA), effectively putting an end to a federal ban on sports betting, which had been in force form more than two and a half decades.
Some states rushed to make wagering on sports legal and bring more funds to their coffers, while others are still far from making such a move. It is a good occasion to see how did some of the states capitalised on the court’s historic decision.
The garden state made betting on sports legal in June, and by the end of September, eight casinos and racetracks offer sports betting for its customers. In addition to this, more and more mobile sports books have been opened in the last two months.
More than $95 million were wagered in August alone, which was more than double the amount wagered a month before, while 25% of all bets were made online.
According to the figures provided by the state’s casinos, a total of $6.3 million worth of bets were made during August, with nearly 10% kept by the casinos.
Unfortunately, Mississippi doesn’t offer online wagering, but it’s still the only southern state where sports betting is legal. This fact helped Mississippi to draw more football bets from the neighbouring states, recording $181 million in gross gaming revenue in August.
West Virginia was off to a flyer when it launched sports betting, taking $340,000 in bets on the first Sunday alone.
Hollywood Casino and FanDuel operate in the state at the moment, while William Hill is set to join soon, but there could be some problems in the future since state lawmakers are pushing for the introduction of integrity fees and data sharing. Whether these will go through, remains to be seen.
Delaware can be extremely pleased with its sports betting handle, which has surpassed $23 million since sports betting was made legal in June. And that’s without offering online wagering.
In August, the state took $7.7 million in wagers, with the bookmakers keeping 10% of that sum.
According to available information, Iowa wants to replicate Delaware’s model, especially because it proved to be highly effective even without the online sector.
Apart from ending the federal ban, the US Supreme Court also ended Nevada’s monopoly on some forms of sports betting.
That’s why the Silver State will definitely feel the consequences of that move in the not so distant future.
Some even suggested updating the state’s sports betting regulations, in order to remain competitive in the new market, but even with some updates, Nevada is not likely to end its restrictive policy of forcing players to register their accounts in person, if they want to play online.
Although July was one of the slowest months, sports wagering recorded a handle of $244, which is a record sum for this period of the year. However, the bookies retained only $4 million – a mere 1.6% of that sum.
- Legal Sports Report: https://www.legalsportsreport.com/23838/delaware-sports-betting-numbers-august/
- Herald Mail Media: https://www.heraldmailmedia.com/news/tri_state/west_virginia/football-season-ushers-in-new-era-of-sports-betting-in/article_cfcdda70-ae47-11e8-8881-b3b7272cf864.html
- iGaming Business: http://www.igamingbusiness.com/news/mississippi-sports-betting-hits-63m-first-month
- iGaming Times: https://www.igamingtimes.com/2018/10/03/sports-betting-hits-home-for-five-us-states/