The Supreme Court struck down a federal sports betting ban in 2018 and this dramatically changed the face of sports betting in the United States. With the ban removed, each individual state can now choose whether to legalize sports betting and many of them have opted for the option.
It has been more than 3 years since the date of the Supreme Court decision and there are more than 20 different states that have made the decision to legalize sports betting. That in itself shows how sports betting is growing in the US and the more states that choose to legalize sports betting, the more it will grow.
Looking at the October 2020 data, Americans legally gambled an estimated $ 3 billion on sports during the month. This, at the time, was a record number according to the American Gaming Association and in terms of sports betting revenue, the figure increased nationwide by 53.5 percent year-over-year to $ 237.5 million. Isolating one state as an example of growth and New Jersey, which took the fight to the Supreme Court, set a national sports betting record for the month of October 2020. Garden State received a whopping $ 996.3 million in sports betting during the month, which is an incredible number and shows how sports betting is growing in the United States.
As with any type of product, sports betting fans love having a choice and, taking Indiana as an example, you will find a great selection of legal bookmakers available. These are listed and reviewed on gambleindiana.com, with BetRivers, PointsBet, FanDuel, BetMGM Sports, DraftKings, Unibet, William Hill, and Wynn Bet all on sale for Indiana residents.
COVID-19 hit sports betting throughout 2020 and into early 2021, as many sporting events were postponed and canceled. However, even despite a general shortage of sports to bet on in October 2020, there were some states that generated more sports betting revenue than the same period in 2019. New Jersey, Colorado, South Dakota, Ohio, Pennsylvania and Iowa all generated more income from sports betting in October 2020 than the previous year and that’s a sign of the continued growth of sports betting in the US.
Over 80% of all US states are projected to offer some form of sports betting in the coming years. Legalizing sports betting not only means that people can use reliable sportsbooks like the ones found in GambleIndiana, rather than overseas bookmakers, but it also generates additional revenue for the state. You have to pay taxes on sports betting in the US And all of this adds to the spending potential of states to improve the lives of citizens.
Many of the major leagues and professional sports teams are signing deals with sports betting brands. Some teams already have official sports betting partners and sponsorship will play an important role in the continued growth of sports betting in the US over the next decade.