The Supreme Court struck down a federal ban on sports betting 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 if they would like to legalize sports betting and many of them have taken up the option.
We are nowmore than 3 years on from the date of the Supreme Court decision and there are over 20 different states who 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 legalize sports betting, the more it is going to grow.
Looking at the data for October 2020 and Americans legally bet an estimated $3 billion on sports duringthe month. This, at the time, was a record figure according to the American Gaming Association and in terms of sports betting revenue, the figure was up nationwide by 53.5 per cent year-over-year to $237.5 million. Isolating one state as an example of growth and New Jersey, who took the fight the to the Supreme Court, set a national sports betting record for the month of October 2020. The Garden State took a huge $996.3 million in sports bets during the month, which is an incredible figure and shows how sports betting is growing in the United States.
As with any type of product, sports betting fans love to have a choice and taking Indiana as an example, you will find a tremendous selection of legal sportsbooks available. These are listed and reviewed at gambleindiana.com, with BetRivers, PointsBet, FanDuel, BetMGM Sports, DraftKings, Unibet, William Hill, and Wynn Bet all on offer for residents of Indiana.
COVID-19 hit sports betting throughout 2020 and into early 2021 as many sporting events were postponed and cancelled. However, even despite the overall shortage of sports on which to bet in October 2020, there were some states that generated more income from sports betting than the same period in 2019. New Jersey, Colorado, South Dakota, Ohio, Pennsylvania, and Iowa all generated more income from sports wagering in October 2020 than they did the previous year and that is a sign of the continued growth of sports betting in the US.
It is predicted that over 80% of all US states will offer some form of sports betting within the next few years. Not only does legalizing sports betting mean people can use trusted sportsbooks like those found on GambleIndiana, rather than offshore sportsbooks, but it also brings in additional revenue to the state. There is tax to be paid on sports betting in the USand this all adds to the spending potential of states to improve the lives of citizens.
Many of the major professional sports leagues and teams are now signing deals with sports betting brands. Some teams already have official sports betting partners and sponsorship is going to play a significant role in the continued growth of sports betting in the US over the next decade.
