Sports Betting Dramatically Changes the Gambling Landscape Nationwide

Sports betting is undoubtedly the best thing that has ever happened to the gambling industry. On the other hand, it’s also the worst. It just depends on which side of the argument you find yourself on. 

The Pros and Cons of Sports Betting

Sports betting could be considered a bad thing because it encourages more people to start gambling. While anything in moderation might be OK, too much of anything can be bad. The fact is, sports betting could increase the number of people who develop a gambling addiction. This problem is due, in part, to the massive popularity of sports like football and basketball, combined with the introduction of technology that makes spending too much money on gambling even easier.

On the other hand, sports betting has given sports fans a reason to try their luck with gambling, making the game more fun for the fans. It’s also expanded the horizons for old-time gamblers, as well as helping new gamblers discover the games that they’re passionate about. Likewise, it has brought in massive amounts of revenue for gambling websites and apps.

Regardless of your views on the subject, it’s irrefutable that sports betting has massively increased gambling revenue since it has been legalized.

The Garden State is Growing, Thanks to Sports Betting

One place that sports betting has blossomed is in the Garden State of New Jersey.

Sports betting was legalized in New Jersey in June 2018. It has since grown to have a massive audience and devout following, both in New Jersey and nearby New York, where it’s not legal. The phenomenon really took off in 2019, and it’s sure to continue growing this year and into the future.

During the first ten months of 2019, sports betting and gambling statewide raked in a whopping $96 million in revenue. This amount of revenue, as well as the massive popularity in such a short period of time, is truly impressive. 

In general terms, online gambling as a whole is seeing massive increases in both revenue and popularity. The fact of the matter is, experts in the gaming industry predict a massive increase in revenue for every type of online gambling.

When you consider online gambling compared to in-person casino gambling, it’s easy to see why there’s been such an impressive increase in online gaming. To put it simply, the main reason is convenience.

Online gambling is much easier to access, and new games, apps, and websites are being developed and introduced constantly. Gamblers can instantly access their favorite games and play all day and night without ever leaving the comfort of their home. Online payment options like Pay pal and Apple Pay certainly help to encourage gambling from home too.

The federal ban, known as PASPA, on sports gambling in the United States was lifted by the Supreme Court just a few years ago. Thirteen states in the Union quickly put their sports-betting operations in place. Likewise, an additional six states are on their way to having sports-betting in place very soon. It will be interesting to see how many other states follow suit. 

It’s important to note the various laws and procedures enacted in the individual states. Many states have legalized only certain aspects of the online sports gambling scene. For example, Delaware, New Jersey, and Pennsylvania have online casinos, but the state of Nevada only allows online sports betting and poker.

There are many states expected to legalize online gambling very soon. For example, it’s anticipated that West Virginia will legalize online games and casinos this year. This will certainly be good news for the gambling aficionados in that state.

One thing that’s concerning to many in the gambling industry is that online gambling may take away revenue from the casinos and other in-person gambling locations. Fortunately, in the state of New Jersey, this has not been the case.

The revenue for New Jersey’s nine brick-and-mortar casinos is predicted to climb to the highest levels in a decade. In fact, the iDevelopment and Economic Association commissioned a study that confirms this prediction. The results of this study served to reassure the industry that overall growth is on-track. 

It’s reasonable to assume that this increase in casino gambling is positively linked to online gambling. This is because many of the people never played in a brick-and-mortar casino or bet in-person on a sports game have been introduced to the world of gambling through online digital casino platforms. 

As we sail into the new year, it will be interesting to see which way the world of online gambling will go next. We’re on the edge of our seats to see which states will introduce online gambling next. How the rising popularity of online gambling will affect players and the operators are yet to be seen. We will have to wait and see how this drama plays out.