The sports betting market is growing at a rapid speed without any doubts. Just more than a year passed since the lift of the ban on sports betting, and since then many states have legalized sports betting. More so they are also reaping the benefits from it in the form of revenue.
It seems evident that at some stage in the future all states in the US would be passing the bill although some would take slightly longer than others due to some political concerns which first needs to be taken care of. With Washington, the greatest obstacle in the process are the gambling compacts which some tribal casinos have with government.
Other states which haven’t approved, is again much rather focused on a concern which their lawmakers have about the effect which legal sports betting will have on fuelling a gambling addiction on the nation. Even though the counter-argument remains that illegal sports betting has been around for ages and is still an option for the die heart gambling addicts. Legalizing the practise only makes it more accessible and of course, legal.
The Way Forward
Although many of the states where sports betting has been legalized this far have placed some limiting restrictions on the process, these are expected to change in the future too. Currently, most of the states stated that sports bets could only be placed in person at certain selected casinos. This results in people who live far away from these selected casinos having to drive all the way to be able to place their sports bets.
Only some states thus far have allowed for online sports betting, yet it seems the way to go. Currently, it is only a few states including West Virginia, Nevada, New Jersey and Pennsylvania, where sports bets can be placed online via an application. Mississippi does allow for sports betting to be done online with the limiting guideline that you are only allowed to do it while being present inside the casino. Predictions are, however, being made that in the future five to maybe ten years from now, roughly 90% of sports betting will be done online.
Are Future Predictions Realistic?
With the obstacles which are currently still holding online sports betting back, one may wonder regarding the validity of these predictions. Some states are very welcoming to online sports betting. Tennessee is such an example, offering only online sports betting, while Indiana and Illinois are in complete support of it and Iowa is allowing it as long as that you did comply with initial in-person registration.
Experts also base their predictions on the shimmering example of success, New Jersey. In their first year of allowing sports betting they received a massive $3 billion from sports wagers and of this, 80 % were placed either online or on a mobile app. This is a clear indication of the general preferences of gamblers in the industry.