Sports betting in the USA is slowly becoming a reality for several states at this time. However, there are a number of states that are still yet to put the wheels in motion when it comes to legalising sports betting in a majority of these states.
But with the recent release of casino gambling reports from Colorado, it is looking like several states may soon follow suit.
Sports betting in the United States
When looking into the history of sports betting in the United States it has been anything but smooth.
With a number of states still not fully legalising the process of sports betting and others mid-way through signing the bills, there is a divided opinion amongst many as to whether or not sports betting should be allowed across the United States.
So far, there are a total of 18 states already legalising sports betting, there is a long way to go before it is completely legalised as a whole.
However, with a promising amount of revenue generated from the likes of Colorado and Nevada, it is looking promising that several other states may soon follow suit and legalise sports betting in the near future.
The debut of Colorado sports betting numbers
What is significant when it comes to the revenue being generated? It is the potential that the revenue can have to boost the economy in the state.
This has been highlighted with the release of the most recent report from the states official release from PlayColorado Analysts. The report showed that the state of Colorado had generated over $946,741 in operator revenue off of a total of $25.6m in bets in May.
This is a huge amount of revenue that has been generated from the state within their opening month and is a promising sign for bigger things to come.
The debut month in the market is crucial, however, as it shows the amount of revenue that has been generated despite the absence of live sporting events due to the ongoing coronavirus pandemic.
This is a huge benefit for companies such as LegalBetting and other betting websites as it is a new market that they can begin to capitalise on.
Other states that have seen changes in legislation
Along with this report, however, there has been a huge shift in the opinions of others when it comes to online sports betting. Not only have cases such as this proven that the market is a profitable one, but it has also proven to other states that they could also use this revenue to fund infrastructure and other state projects.
This is significant as the US Supreme court ruled out a federal ban in 2018. This, in turn, has meant that individual states are responsible for the passing of specific legislation surrounding this subject.
As a result, there are several states such as Kentucky, Maine, Missouri and South Carolina, all working towards legalising sports betting in the not too distant future.
What could this mean for sports betting in the USA
Whilst these cases and several others begin to be put forth by senators across the 50 states, this could be the sign of promising things to come to the legalisation of sports betting in the near future.
With many more changes being made to sports betting in Colorado at this time, several elements can make sports betting legalised throughout the United States in the near future as several more bills get passed.
Though there is no definitive answer as to when all 50 states will have sports betting legalised, it is looking promising for sports betting in the USA throughout the year of 2020 onwards.