The Online Sports Betting Opportunity

 

Online Sports Betting

Sports Betting History


1961 - Federal Wire Act

The law banned certain types of gambling businesses from operating in the United States. This law was used to prohibit online gambling in the United States up until 2011.

1992 - Professional and Amateur Sports Protection Acts

PASPA effectively banned sports betting in all 50 states, except for a few.

2011 - Department of Justice gives its opinion on Federal Wire Act

The Federal Wire Act was analyzed by the Department of Justice. They concluded that it only applies to online gambling, and not online poker or casino games. In essence, the opinion allowed states the freedom to regulate their online casinos and kept the ban on sports betting.

2018 - The U.S Supreme Court overturns PASPA

The Supreme Court of the United States ruled PASPA was incompatible with the Tenth Amendment. This amendment gave states the power to regulate online betting.

Present - The Remaining Challenges

Sportsbook operators must have a sports wagering infrastructure established in every state where they operate. This is in addition to other requirements.

Today's Online Sports Betting Landscape


Despite shorter seasons, canceled tournaments and low viewership for sports programming in 2020, online betting was a success in the U.S. According to data, sports betting, also known as the handle, grew by 39% from approximately $13 billion in 2019 up to $18 million in 2020.


Although sports betting is legal in 21 US states and Washington DC in many formats, online betting has seen the largest increase in revenue. Even though online betting has been legalized in only 15 states and Washington DC (and not all), we believe the market is thriving because of its ease-of-use and entertainment value.


New Jersey has seen its online betting handle rise to $15 billion in the past two years, with half of that increase occurring in 2020. Below is a list of 90% of online bets in New Jersey today.

New Jersey's $15 billion handle suggests that it has received a $115million tax windfall. Sports betting companies have made nearly $1billion in revenue. According to the chart above, New Jersey now has a higher total bet volume than Nevada. Each state could possibly replicate New Jersey’s success in online sports betting.


With Nevada and New Jersey excluded, the most recent data from states with largest reported handles shows that consumers prefer to play online and mobile sports over onsite options.

Pennsylvania and Indiana data suggest that online betting has been adopted today in line with the level before the COVID crises, which saw onsite sports betting halted for two months. The percentage of online and mobile sports betting has increased to 75% in Pennsylvania, Illinois, Indiana, and other states since the summer of 2020. Although online sports betting is less popular in Nevada than it was in other countries, it has been at least 50%.


Opportunity?


Legalized online betting gives sports book operators and leagues the chance to offer thrilling interactive online experiences and to profit from a fan demand curve that is highly efficient and to generate new revenues. For example, a New York Giants die-hard fan living in Illinois can transfer that capital to an online gambling viewing experience. Our research indicates that as online sports betting grows 10-fold, from approximately $18 billion up to $180 billion, all three major categories of sports betting could result in 31% revenue growth at an annual compound rate. This would allow for online betting to grow from $9.5 million last year to $37 trillion by 2025. Online Sports Betting Opportunity


Sports Betting History


1961 - Federal Wire Act

The law banned certain types of gambling businesses from operating in the United States. This law was used to prohibit online gambling in the United States up until 2011.

1992 - Professional and Amateur Sports Protection Acts

PASPA effectively banned sports betting in all 50 states, except for a few.

2011 - Department of Justice gives its opinion on Federal Wire Act

The Federal Wire Act was analyzed by the Department of Justice. They concluded that it only applies to online gambling, and not to poker or online casinos. In essence, the opinion allowed states the freedom to regulate their online casinos and kept the ban on sports betting.

2018 - The U.S Supreme Court overturns PASPA

The Supreme Court of the United States ruled PASPA was incompatible with the Tenth Amendment. This amendment gave states the power to regulate online betting.

Present - The Remaining Challenges

Sportsbook operators must have a sports wagering infrastructure established in every state where they operate. This is in addition to other requirements.

Today's Online Sports Betting Landscape


Despite shorter seasons and canceled tournaments in 2020, online betting was a success in the U.S. According to data, sports betting, also known as the handle, soared 39% from approximately $13 billion in 2019, to $18 million in 2019.


Although sports betting is legal in 21 US states and Washington DC in many formats, online betting has seen the largest increase in revenue. Even though online betting has been legalized in only 15 states and Washington DC (and not all), we believe the market is thriving because of its ease-of-use and entertainment value.


New Jersey's online gambling has increased by half a billion dollars since mid-2018 when it legalized online betting on sports. Below is a list of 90% of online bets in New Jersey today.

New Jersey's $15 billion handle suggests that it has received a $115million tax windfall. Sports betting companies have made nearly $1billion in revenue. According to the chart above, New Jersey now has a higher total bet volume than Nevada. Each state could possibly replicate New Jersey’s success in online sports betting.


With Nevada and New Jersey excluded, the most recent data from states with largest reported handles shows that consumers prefer to play online and mobile sports over onsite alternatives.

Pennsylvania and Indiana data suggest that online betting has been adopted today in line with the level before the COVID crises, which saw onsite betting operations halted for two months. The percentage of online and mobile sports betting has increased to 75% in Pennsylvania, Illinois, Indiana, and other states since the summer of 2020. Although online sports betting is less popular in Nevada than it was in other countries, it has been at least 50%.


Opportunity?


Online betting legalization allows sport book operators and leagues to offer thrilling interactive online experiences. They also have the chance to profit from a fan demand curve that is highly efficient and to generate new revenues. For example, a New York Giants die-hard fan living in Illinois can transfer that capital to an online gambling viewing experience. According to our research, online sports betting could grow by 31% annually over the next five year, with the handle increasing from $18 billion up to $180 billion. This would increase the revenue category for online sports betting from $9.5 billion in 2017 to $37 billion by 2025. online sports betting




Comments

Post a Comment

Popular posts from this blog

Sensasi mengejar ace: Apa peluang Anda?

 Sensasi pengejaran: Berapa peluang Anda untuk mendapatkan kartu as? Fan menghitung kehadiran hari Rabu di konser Bay de Verde dan penjualan tiket di Bay de Verde. Ini menempatkan peluang seseorang untuk memenangkan Jackpot pada satu banding 42.000. Namun, membeli lebih banyak tiket dapat meningkatkan peluang Anda -- sekaligus meningkatkan risiko Anda. Saya tidak cukup beruntung untuk memenangkan hadiah apa pun. Bertahun-tahun yang lalu, hadiah terbesar yang saya menangkan adalah sebungkus kue. Saya menghabiskan beberapa dolar untuk mendapatkan paket kue. Fan tidak berencana untuk pergi ke Bay de Verde untuk jackpot hari Rabu. Tetapi dia mengatakan bahwa Anda memiliki peluang yang lebih baik untuk mendapatkan kartu as daripada lotere nasional lotere jackpot besar. Dia mengatakan bahwa memenangkan jackpot ini memiliki peluang lebih tinggi untuk terjadi daripada memenangkan 6-49. "Peluang memenangkan Jackpot di 6/49 lebih dari 14.000.000. Ini peluang yang jauh lebih rendah daripada ...
Read more

AG merasakan 'risiko' bagi pelanggan dari ladang angin lepas pantai yang mahal

 AG melihat "risiko" bagi pelanggan dari Wind Farms lepas pantai yang mahal Kantor Kejaksaan Agung Virginia telah memberi tahu regulator negara bagian Dominion Energy telah membesar-besarkan manfaat ekonomi dari proposal ladang angin lepas pantai, dan telah memperingatkan "risiko signifikan" bagi pelanggan. The Richmond Times-Dispatch melaporkan bahwa analisis itu diajukan hari Jumat ke Komisi Perusahaan Negara. Komisi sedang memeriksa rencana Dominion, sebuah perusahaan yang berbasis di Richmond, untuk membangun pembangkit listrik tenaga angin 180-turbin di lepas Pantai Virginia dengan perkiraan biaya $9,8 juta. Komentar publik diterima sekarang dan dengar pendapat ditetapkan pada Mei. Scott Norwood, penasihat energi yang berbasis di Texas, diajukan oleh Divisi Penasihat Konsumen Kejaksaan Agung. Norwood bersaksi bahwa proyek pembangkit listrik tenaga angin tidak diharuskan untuk memenuhi kebutuhan kapasitas perusahaan hingga setidaknya 2035. Dia juga menyatakan ba...
Read more

Baccarat Basics

  The Basics of Baccarat Baccarat, a card game played in casinos worldwide, involves two players dealing cards to each another.   There are three outcomes to the game.   These outcomes will depend on the hand of the dealer and the hand of the player.   If the player has more cards that the banker, he can win the game.   If a player loses, they are out.   Baccarat is highly addictive and can only be played in a casino. Successful players of baccarat keep track of their wins.   To help players keep track, a scorecard or pencil is usually provided by the casino.   These records can give important information to players when they bet.   These records can help players bet differently, or even against the bank.   You will need to track your bets in order to improve your baccarat strategy and bankroll. Baccarat will see the dealer draw a third hand.   The final draw decision will reveal the player's two-card hand.   The dealer will re...
Read more