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The Future is Bright for USA Sports Betting

Author: Skyla Burrell

In case you have not heard, Las Vegas no longer holds the major monopoly on sports betting in the United States, thanks to the overturning in May 2018 of a 1992 law which banned betting on sports in most states aside from a handful. Along with Nevada, New Jersey, West Virginia, Mississippi and Delaware were grandfathered into the 1992 law which banned sports betting across the remainder of the nation and until recently were the only games in town. All states are now able to decide for themselves if they want to offer legal sports betting in the USA.

A dozen or more USA states have confirmed they’ve set their sights on legalizing sports betting in 2019, with more than half that number planning on being operational prior to the start of the 2019 NFL season. Some states have already started to offer legal sports betting. Pennsylvania’s first leap into the game went live this month at Hollywood Casino at Penn National. Many land-based sports operations will be partnering with established online bookmakers. In the case of Hollywood Casino, they have partnered with William Hill. Some experts suggest that within the next two years a total of 24 states will be offering legal sports betting to their residents, most with both land-based and online betting services.

Big Bucks for Professional Sports

Legalizing sports betting means big bucks for major league sports. A recent study, published in October 2018 by the American Gaming Association, projected the combined earnings for major league basketball (NBA) and major league baseball (MLB) to be a mind-blowing $1.7 billion dollars. The study factored in things like advertising and sponsorships to come up with a combined estimate for the earnings from legal sports betting for the four major US sports leagues(NFL, NBA, NHL, and MLB) to roll in at a whopping $4.2 billion.

Sports Fans Benefit From Legalized Sports Betting

Bookies and sports teams are not the only ones that will benefit greatly from legalized sports betting, as major league sports has big plans to increase fan experiences at sporting events by creating environments where fans not only watch the games but can also easily wager on them right from their seats. On the gambling side of the coin, both the NHL and NBA have signed agreements to supply MGM Resorts International with data for use in betting. Sharing sports data will allow bookmakers to set better odds, that’s a given but, the really exciting part is that the sports data sharing is expected to lead to real-time proposition wagering. Meaning, fans would be able to bet on if the next 3 pointer basketball shot will be hit or missed, or if for instance whether a goal will be scored on the next hockey power play and which player will score it. The future is so bright for sports betting the USA needs to wear shades.