Morgan Stanley predicts that 35 states will have legal sports betting markets by the end of the year.
US.- A report by Morgan Stanley Research predicts that a further 12 states in the US will legalise sports betting by the end of 2021.
The research, conducted by Thomas Allen, Michael M. DeLalio and Ed Young, forecasts that the number of states with legal sports betting markets will rise from 20 to 35 this year.
That includes three states that have already seen sports betting approved in referendums and plus a further 12 that the researchers expect will legalise the activity.
Morgan Stanley noted that several states are considering legalising sports betting swiftly to combat budget deficits caused by the Covid-19 pandemic.
The researchers wrote: “While there are always opportunities for states to host special sessions in the fall, many will look to pass bills and budgets earlier, moving forward the catalyst.”
Minnesota is the latest state to see legislation proposed. A bipartisan bill would permit the regulation of sports wagering at the state’s casinos and racetracks.
As for figures, the report suggests the sports betting and igaming market in the US could be worth combined $15bn by 2025.