Skip to main content

Impact of Sports Betting Legalization in the US

Recently updated on May 3rd, 2019

Sports Betting legalization is continuing to expand in the United States. Radio companies in the country have said the recent moves are providing a much-needed economic boost in the broadcasting field. Up until recently, sports betting in the United States were considered illegal. There have been plenty of changes, however, making provision for this kind of betting.

Legalized Sports Betting was initially banned in 1992. The US Supreme Court Ruled that sports wagering is banned in all state, except for Nevada. Conversely, this ban was ruled as unconstitutional in May 2018. Considering the law governing the States, it now falls into the hands of the states to decide on a way forward.  In recent weeks we have seen states such as Illinois, Minnesota, Indiana, and a few others move toward legalization of sports betting.

The legalization of Sports Betting is already witnessing some positive effects in the world of advertising. Entercom Communications Group has stated that the legalization of sports betting has begun to assist in increasing revenue.

Impact of Sports Betting Legalization in the US

Offshore Sports Wagering

A sports betting study by the American Gambling Association found that over $140 billion is spent by Americans on sports wagering on the black market. In fact, the main source would be offshore sportsbooks that allow US players. These offshore sportsbooks have been the only available options for US gamblers for over 20 years. At the moment the impact of the legalization of sports betting is not yet fully known. Senior executives of the offshore sportsbooks believe that the business they get from the US would increase rather than decrease.

The Effects of Sports betting legalization

Sports betting legalization had an impact that is already being felt in the states, and it is a positive one. Broadcasters are already seeing an increase in advertising.  According to the CEO of Entercom, David Field, a study by Goldman Sachs that took place recently concluded that wagering on sports will grow to a total of $15 billion in the year 2022.

It is clear that from these statistics that the American market is waiting anxiously for the legalization of sports betting.

For more latest New Zealand casino news see below, also visit our site regularly to be updated with what’s new.

Related Posts

Is Online Baccarat Beatable?

Is Online Baccarat Beatable?

Recently updated on September 4th, 2022Yes, online baccarat is beatable, but only in the short term, thanks to the house edge. Like many other casino games, the casino has a built-in advantage in baccarat to ensure profits. This advantage is a mathematical edge that ensures the casino doesn’t lose money on every winning wager. While […]

English Soccer Players Star in Sportsbook Ads

English Soccer Players Star in Sportsbook Ads

Recently updated on July 29th, 2019There’s been a lot of concern by gambling stakeholders surrounding sportsbook ads featuring soccer players from arguably the most popular league in the world. The latest team in the spotlight is Tottenham Hotspurs. The English team is affiliated with 1XBET. The sportsbook has a multimillion-dollar partnership deal with the London […]

New October Pokies at Wild Card City Casino

October Pokie Wild Card

Recently updated on September 30th, 2020As a brand-new casino, Wild Card City is still coming in hot with new October pokie releases and exciting offers. Almost every game offers 10 free spins if you play the game within the first month, so we recommend checking them out. After all, there’s a mix of new slots […]

Buffalo Wild Wings Partners with MGM to Offer Free Sports Betting at Restaurants

Buffalo Wild Wings Partners with MGM to Offer Betting at Restaurants

Recently updated on September 6th, 2019Buffalo Wild Wings, one of the largest international restaurants, has partnered with MGM Resorts in a deal that will see the joint’s customers playing free games and offered sports betting tests. The two companies announced the news this week stating that the deal would in the US “deliver sports gaming […]

Gambling Sponsor Deals for Scottish Women’s Football Rejected

Scottish Women’s Football Turn down Gambling Brands – NZ News

Recently updated on October 3rd, 2018The Scottish Women’s Football organisation has decided to turn down any sponsor deals from gambling firms and alcohol companies. In contrast, the Men’s Leagues have been overtaken with gambling sponsors. On Sunday, Scottish Women’s Football Chairperson, Vivienne MacLaren, gave a statement about the choice. In the statement published by Scotland […]