America’s four most popular sports are all in season right now, and the sports betting industry is loving it. Last year, the industry generated $4.29 billion in revenue from the $57.22 billion wagered.
Through June 30 this year, $3.04 billion in sports betting revenue have been collected – a rate that will surpass last year’s record. By 2025, revenue is estimated to exceed $7 billion, according to Morgan Stanley.
The US sports betting industry is growing at a rapid pace as more states join the legalization of the industry. Legal domestic sports betting is available in 31 US states, plus D.C. New Jersey was the first state to legalize online casinos in the country, and now there are around 30 legal online casinos in NJ with great popularity and a variety of games and exclusive features for its players. In this blog post, we will take a look at the US sports betting industry in 2022.
The current state of the US sports betting industry
In the past, betting on sports was a taboo activity that was largely limited to underground bookies. However, the landscape has changed dramatically in recent years, and sports betting is now a multi-billion dollar industry. In 2018, the US Supreme Court struck down a federal law that had effectively banned sports betting, clearing the way for states to legalize and regulate the activity. Since then, more than a dozen states have passed laws legalizing sports betting, and many more are considering doing so. The result is an industry that is growing rapidly and attracting a lot of attention from investors. With more states expected to join the fray in the coming years, The future of sports betting in the US looks very optimistic.
How online sportsbooks are impacting the industry
The online sports betting industry is booming and shows no signs of slowing down. With the click of a button, bettors can now place wagers on their favorite sports teams from the comfort of their own homes. This convenience has made online sportsbooks incredibly popular, and they are now starting to have a major impact on the industry as a whole.
While traditional brick-and-mortar sportsbooks are still the dominant force in the industry, online sportsbooks are quickly gaining ground. In fact, some analysts believe that online sportsbooks will eventually overtake their offline counterparts in terms of market share. This trend is happening for several reasons. First and foremost, online sportsbooks offer a level of convenience that offline sportsbooks cannot match. Bettors can log into their accounts and place wagers at any time of day or night without having to travel to a casino or racetrack. Second, online sportsbooks often offer better odds and more generous bonuses than offline sportsbooks. This makes them much more attractive to savvy bettors who are looking to maximize their winnings. Finally, online sportsbooks are generally much more user-friendly than offline sportsbooks, making them easier for new bettors to use.
The rise of online sportsbooks is having a major impact on the industry as a whole. Traditional offline sportsbooks are being forced to adapt in order to compete with their online rivals. The result is a more competitive and dynamic industry that can better meet today’s bettors’ needs.
The future of sports betting in the US
The future of sports betting in the United States looks promising. bookmakers are already legally operating in several states, and more states are expected to pass legislation in the coming years. The popularity of online betting sites has also grown in recent years, making it easier than ever for American consumers to place bets on their favorite sports teams. As the industry continues to grow, it is likely that bookmakers will increasingly look to the US market for growth opportunities. This could lead to more innovation in the products and services offered to American bettors and greater competition among bookmakers. In short, the future of sports betting in the US looks bright. There are many reasons to believe that the industry will continue to grow in both size and popularity in the years to come.
States where sports betting is legal in 2022
Which states allow gambling on sports? More than 20 US states have legalized state-regulated sports betting, though New Mexico does not qualify because of the tribal loophole.
Many states have authorized sports gambling but have yet to launch any sportsbooks, while others are still in the process of legislation.
Below is a list of states that have passed legislation approving domestic sports betting, as well as those with active legislation pending:
| Arizona | Arkansas | Colorado | Connecticut | Delaware | Florida | Illinois |
| Indiana | Iowa | Kansas | Louisiana | Maine | Maryland | Massachusetts |
| Michigan | Mississippi | Montana | Nebraska | Nevada | New Hampshire | New Jersey |
| New Mexico | New York | North Carolina | North Dakota | Ohio | Oregon | Pennsylvania |
| Rhode Island | South Dakota | Tennessee | Virginia | West Virginia | Washington | Washington D.C |
| Wisconsin | Wyoming |
The Significance of States’ Rights in Regards to Domestic Sports Betting
In 2011, the United States Department of Justice altered the opinion that The Wire Act only affected US-based online sports gambling businesses. After this change, states were then able to pass legislature legalizing online casinos and poker games.
The application of this law changed in 2018 with the repeal of PASPA, and it was clarified again in 2019. Now the Act only bans interstate gambling transmissions for state-regulated gambling. This means that businesses cannot accept wagers across different state lines. The courts are currently on political battlegrounds over the interpretation of the Wire Act, so its applications could change soon.
PASPA was a federal ban prohibiting states from legalizing and conducting sports betting enterprises. Some people argued that this ban was unconstitutional because it went against states’ rights. After being sued by the major sports leagues in the US, New Jersey decided to do something about PASPA.
In a Supreme Court case that would have nationwide implications, New Jersey argued that PASPA violated their rights when they tried to authorize sports betting in 2014. Fortunately, the state came out on top, with many now looking to them as an example for future cases. The United States Supreme Court ruled that PASPA was unconstitutional and has now given individual states the authority to regulate sports wagering.
In the aftermath of PASPA’s repeal, an unprecedented number of states have legalize sports betting. Today, over half of the US states offer legalized sports betting. Sports betting has been authorised even in Puerto Rico, which is not technically a state.
Conclusion
In the United States, the sports betting industry is currently in a state of flux. Online sportsbooks are having a major impact on the industry, and it is unclear what the future will hold. However, in 2022, sports betting are legal in many states across the country. The Significance of States’ Rights in Regard to Domestic Sports Betting could have a major impact on how this industry develops in the coming years.
