As legal sports wagers in the US reach new levels, maybe it wasn’t so exaggerated to claim that $150 billion was shipped off every year from the U.S. to offshore sportsbooks.
Sports gambling critics scoffed at the number as the Supreme Court tried in May 2018 to overturn the 1992 Professional and Amateur Sports Protection Act (PASPA), but new figures on how much was taken this past September add to the figure’s legitimacy. The handle for the month is nearly $1.4 billion, and that’s providing regulated sports wagers with only a small handful of states–13, to be precise.
The report was given by the American Gaming Association (AGA), an organisation that advocates across the nation to continue legalising gambling. Recently, the group pointed out that 52 million Americans are now able to place legal sports bets in the U.S., three times as many as a year ago. At that time, the operation had been approved by only six states–Delaware, Mississippi, California, New Jersey, New Mexico, and West Virginia.
During the first nine months of the year, $7.8 billion in wagers were taken, $1.2 billion more than was seen in the last 12 months. Due to new laws in several more states that are planning to phase out legal sports gambling markets, this number can expect to rise exponentially. Illinois, Montana, New Hampshire, North Carolina, Tennessee, Washington, DC are among these.
The legal framework will be essential to greater growth in addition to the proliferation of legal states. The manner in which operators are licenced and taxed will make a huge difference and will also play a major role in how the operation is permitted. Online sports gambling is going to be a sure bet that states can catch a larger amount of gaming revenues, because states providing Internet-based platforms generally have larger online wagers. For instance, 82 percent of all bets come from mobile solutions in New Jersey.
New Jersey was the state that had the ball rolling in the country for legalised sports gambling and was handsomely rewarded for their efforts. Being one of the first to have a flexible programme, including online platforms, it has been able to attract gamblers from New York, Pennsylvania and others who only have to cross the border, find a place to stop and place their bets.
Gamblers are gambling–numerous studies have already confirmed this unquestionably. The only logical course of action is to respond favourably and catch the activity’s economic benefit. Also, this is the only way to protect consumers from shysters and scammers. The earlier states understand that, the stronger they are going to be.