The regulation of online sports betting is a big deal for NFL fans and gamblers alike. Every year millions of Americans watch the games and place their bets, and the revenues generated are enormous.
Online NFL sports betting is a rapidly growing industry in the US, and the states that have legalized it have seen a massive boost to their economies.
News Highlights
- NFL sets goal to generate $25 billion in revenue this season.
- States with legal sports betting online see massive revenue in a short time.
- Many more US States have online sportsbook legislation in the works.
The NFL and Online Sports Betting
NFL sports betting is hugely popular in the US, and around 15% of American adults are expected to place bets on football in 2019 alone. In the 2018 season, the NFL generated an astonishing $15 billion and recently announced its goal to increase that revenue to $25 billion this year.
Though rising in popularity, some states in the US don’t have legal online sports betting yet. In fact, internet bets account for only a moderate percentage of the above revenue. However, a small percentage of a large amount is enough to capture the attention of previously uninterested states.
Money talks, and if the numbers keep growing, then we can expect to see the legalization of NFL sports betting spread to other states, too. Let’s take a look at which US states are in and which ones are out.
States with Legal US Online Sports Betting
First, we’ll talk about states that have jumped on board the sports gambling train and the average revenue they have been getting. Below is a list of states in the US where online sports betting is legal.
Iowa
Online sports betting has been legal in the Hawkeye State since August 2019. While it hasn’t been legal long, the first numbers drawn in September revealed that $8.5 million had already been generated.
New Jersey
The Garden State has always had the most liberal gambling laws along the east coast, and its economy has benefited enormously from them. Since its legalization in 2018, online sports betting in New Jersey is now one of the most robust markets in the country and generates $247 million annually.
Nevada
The Silver State is no stranger to gambling and was, at one point, the only place in the US where you could legally bet on sports. Of course, that is no longer the case, but even with competitors, Nevada still generates $301 million in revenues each year.
Pennsylvania
The Keystone State legalized online sports betting back in May 2019. The revenues, when combined with physical sportsbooks amount to an estimated $37 million annually.
Rhode Island
For being a small state, it sure is putting up big numbers. Rhode Island also legalized online sports betting back in 2018 and has since generated revenues of around $7 million annually.
West Virginia
The Mountain State of West Virginia became the fifth US state to offer legal sports betting in August 2018. Since then it has amassed revenues of around $16 million per year.
Which States Will Soon Legalize Online Sports Betting?
Now let’s see which states have started looking into capturing a piece of the pie. While they may be at different points in the process, their end game is the same. Below is a list of all the states that are currently in the process of legalizing online sports betting:
Maine
The Pine Tree State is currently in the process of legalizing online sports gambling. Lawmakers passed “An Act to Ensure Proper Oversight of Sports Betting” in the State on June 19, 2019. Though the governor vetoed the bill, the legislature could revive the bill with a special session or re-introduction next year.
Connecticut
At the start of 2019, a new bill focused on sanctioned sports wagering was introduced. We can expect to see some progressive changes happening in The Nutmeg State shortly.
Massachusetts
In January 2019, several sports betting legalization bills were introduced. They are making proper steps forward, but full legalization has yet to be passed.
Kentucky
On June 25, 2017, Senator, Julian M. Carroll, introduced a marked-up 27-page bill that would allow Kentucky’s racing commission to “institute a system of sports wagering.” Two additional bills were introduced during January 2019, but full legalization has yet to come.
North Dakota
In January 2019, The Peace Garden State introduced House Bill 1254 that would authorize “sports betting as a game of chance” in the state. Full legalization is still being discussed, but we can expect more changes to come soon.
Michigan
Governor, Rick Snyder, refused to sign the original legislation in December of 2018. State Representative, Brandt Iden, has presented another bill just this month. Michigan residents standby eagerly in hopes of legal online sports betting coming to The Wolverine State this time around.
How Does This Affect Online Casino Players?
NFL wagers bring so much money to the online sports betting industry that many states are beginning notice the considerable benefits legalization can bring.
As well as significantly boosting the economies of all US states that legalize sports gambling, these changes offer several advantages to online casino players.
Once authorized, sports wagers can be placed safely online. That means gambling in a trusted and regulated environment. Moreover, the legalization of sports betting is a stepping stone that could affect each state’s attitude towards gambling as a whole. Once in place, it may play a significant part in the legalization of online casinos. So, with some luck, all the states mentioned above may soon see real money slots and table games available on the internet.
