US Sports Betting Growth is Extraordinary
Two years after the Supreme Court gave out its historic decision, the US sports betting growth exceeded most stakeholders’ expectations. Also, it changed the relationship between the gambling industry and sports leagues.
Since the Supreme Court struck down the PASPA in May 2018, players wagered more than $20 billion in US-based sportsbooks. PASPA or Professional and Amateur Protection Act allowed sports betting only in Nevada. The Supreme Court deemed it unconstitutional.
At present, eighteen states have legal sports betting markets. Several states have legislation filed or passed and are waiting to launch sportsbooks. According to a pay per head sportsbook, North Carolina, Washington, Virginia, Tennessee, and the District of Columbia passed sports betting laws. Also, 16 states have active sports wagering bills.
US Sports Betting Growth
Twelve states have full-scale sports betting operations, including Virginia and Tennessee. The former offers online betting only. Based on pay per head sportsbook sources, New Jersey got $4.6 billion in 2019. Out of the total, 84 percent was placed online.
Bookie pay per head providers described the growth rate of the betting market has been extraordinary. Even non-gaming states, such as New Hampshire, Tennessee, and Virginia, legalized sports betting.
The US gambling industry is changing too. DraftKings and FanDuel started as daily fantasy sports companies. Now they are online casino and sportsbook operators. Also, they got a massive portion of the New Jersey market. They are ahead of traditional gambling firms such as Caesars Entertainment and MGM Resorts.
As the market grows, the risks of problem gambling increase. Also, there are concerns that states are not considering the harm caused by problem gambling. According to a recent study, nine states with legal sports betting didn’t have funding for problem gambling treatment and prevention.
The National Council on Problem Gambling wants stakeholders to be responsible for contributing to the research, treatment, recovery, and prevention of problem gambling.
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