Sports betting has swept the nation since a 2018 court decision overturned a rule that restricted sports gambling to Nevada. This opened the door to widespread sports gambling and allowed state legislatures to determine if and how they would go about the legalization process.
Since then, 33 states have legalized sports betting in some form, and 20 have passed legislation that allows interested parties to place bets online. This has resulted in enormous growth in sports betting’s handle, or the total amount of wagers that have been accepted by legal sportsbooks.
With bettors lining up to place their favorite March Madness bets, this is a great time to learn about sports gambling as a whole, new developments, and the opportunities that exist.
Sports Betting Sweeps the Nation
Sports betting is the quickest growing sector of American sports entertainment and the most immersive experience in sports fandom. Bettors show their allegiance to their favorite teams, athletes, and sports by placing wagers and entrenching themselves in professional sporting lore 99onlinesports.
In a world where everything is about personalization and engagement, sports betting allows fans to actively join in on the action, and, in states where online betting is legal, from the comforts of their own homes.
Pre-Super Bowl estimates claimed that 31.4 million Americans would gamble approximately $7.6 billion on the big game, which ultimately ended 23-20 in favor of the Los Angeles Rams over the Cincinnati Bengals. Cooper Kupp had eight receptions for 92 yards and two touchdowns and became the second wide receiver in four years to be named Super Bowl MVP.
The breathtaking numbers surrounding the Super Bowl only cemented the legitimacy that American sports betting had been building over the past few years.
New York legalized online sports betting on January 8 and only needed less than four weeks to obliterate the previous month’s record, reaching a handle of $1.6 billion by February 1. Other states used this information to help push their legalization processes, most of which seem like they will be fruitful endeavors.
Professional sports teams and stadiums are also joining forces with sportsbooks (betting agencies) to help push for further legalization and innovate the entire market.
Owners of the Missouri professional sports teams including the Kansas City Chiefs, St. Louis Cardinals, and St. Louis Blues, among others, have been lobbying nearly since the start of the year for their lawmakers to draft legislation that would bring sports betting into Missouri. This is a serious power move and shows the dedication to evolving sports gambling.
Stadiums have also begun partnering with sportsbooks, a trend that began in the NFL when the Arizona Cardinals partnered with BetMGM in 2021 and brought sports betting into their arena. With
Sports Betting Attractions
The biggest attractions in sports betting include March Madness, the Super Bowl, the NBA Finals, the Olympics, the World Series, fights, horse races, athletics, and other championship bouts.
For sports fans who have spent their lives setting aside time to watch games, flying to different stadiums across the country, and defending their team publicly, sports betting is just another way to show support and get even more involved in the sport.
Although there are still less than 50% of states that have legalized online sports gambling and just under two-thirds of states have passed regular gambling measures, there is too much momentum for this simply to be some sort of fad.
Sports betting also brings in tremendous amounts of money for betting operators, partnered locations, and states (in the form of tax revenue), which makes it impossible to ignore financially. If anything, there should be an expectation that sports betting will be a nationwide entertainment source within the decade, given the current trajectory.
Get used to seeing sportsbooks in more and more locations— who knows, your state might be next to legalize.
