Background Of Sports Gambling In The U.S.
Sports betting apps have been instrumental in driving up the gambling industry in the United States over the past four years.
In Oct. 1992, the Professional and Amateur Sports Protection Act of 1992 (PASPA) was signed into law. This barred sports betting from taking place in most parts of the country over the next quarter century, though it was legal in Nevada.
But in May 2018, the Supreme Court of the United States ruled that the PASPA law was a violation of the country’s Tenth Amendment. The ruling from the Supreme Court allowed every U.S. state to launch mobile/online and/or in-person sports betting if they wanted.
New Jersey, Delaware and Mississippi became the first three states to launch sports gambling following the SCOTUS’ ruling. Now fast forward to the final quarter of 2022, and 30 U.S. states to date have launched sports betting, with more on the way.
Maryland was widely expected to launch sports betting by the end of 2022, and there was some hope it would go live by the start of the NFL season. But right now, it looks to be several months away from actually launching . When The Old Line State launches it, sportsbooks such as Caesars Maryland will have special welcome bonuses to offer new customers.
The anticipated offer from Caesars Maryland would be a free $1,250 wager, and the sportsbook also has a loyalty program where you earn “Tier Credits” for every $5 you bet.
The state of Kansas is set to launch sports betting in early September, in time for the start of the 2022 NFL campaign that begins on Sept. 8. At this time, Ohio looks prepared to launch sports betting by early January 2023.
Earlier this month, Massachusetts Governor Charlie Baker signed a sports betting law. There isn’t a firm timeline on when sports betting apps could launch in the state, but Baker’s action marks a significant step here.
Rise Of Sports Betting Apps
Today’s cell phone and internet technology makes things a lot easier in day-to-day life. Errands that you used to have to step outside of the house for can now be completed with simple taps on your mobile devices.
Folks who love playing casino games such as poker, roulette, slots, and blackjack must also not miss playing the best uitbetalende gokkasten. And the good news is that you can now play your favorite games through major sports betting apps anywhere. These mobile/online casinos and sportsbooks have been giant money makers across the states that have launched sports gambling, too.
The state of New York launched sports betting in January of this year. In July, Gov. Kathy Hochul announced that the state had already made over $302.3 million in tax revenue through mobile sports bets.
It was noted in the announcement that the $302.3 million surpassed expectations. The tax revenue generated here goes towards good causes such as youth sports programs, education and addiction services such as gambling.
The state of Pennsylvania launched sports betting four years ago. The state has taken in more than $15.542 billion in sports wagers, and the state has made over $1.16 billion in total revenue.
FanDuel & DraftKings Have Been Driving Forces In U.S. Sports Gambling Surge
Popular sportsbooks such as FanDuel and DraftKings have been in existence for more than a decade now.
FanDuel, which is based in New York City, launched in the summer of 2009. Three years later, DraftKings was founded in Boston.
The Valley Forge Casino Resort (FanDuel serves as its online brand), has taken in over $5.7741 million in wagers for a revenue of approx. $481.279 million. And back in June, FanDuel hit the massive $3 billion milestone in bets from New Yorkers.
FanDue is legal in 15 different American states. It has a partnership with the MLB’s New York Yankees, one of the world’s most popular and marketed sporting franchises. Surely, that has helped the sportsbook garner a massive following in The Empire State.
DraftKings is available in more than a dozen states as well as the Canadian province of Ontario, which legalized mobile/online sports betting in April of this year.
The sportsbook has partnerships with each of the “big four” North American Professional sports leagues — the NHL, NFL, MLB and NBA. DraftKings also has partnerships with several major sports franchises such as the NBA’s Boston Celtics and Philadelphia 76ers, the NHL’s Detroit Red Wings and the NFL’s Baltimore Ravens.
The Hollywood Casino at The Meadows (DraftKings) has already taken in over $3.41 billion in handles. It’s now less than $11 million shy of reaching $200 million in total revenue up to this point.
And as more and more U.S. states join the sports gambling industry, prominent sportsbooks such as FanDuel, DraftKings, Caesars, BetMGM and PointsBet will only continue to see rapid growths in usage, overall following and revenue.