A new report revealed that 32 US states could offer sports betting services in five years.
US.- A new report from Eilers & Krejcik Gaming, LLC, an entity that tracks state-by-state legislation, revealed that legal sports betting could be offered in 32 states within five years if the United States’ Supreme Court rules in favor of the case presented by New Jersey, which is fighting the PASPA act that only allows a limited number of states to offer the gambling modality.
Eilers & Krejcik Gaming, LLC said that a new market could be worth more than US$6 million, and it all 50 states of the American country legalise sports betting, the industry could be worth from US$7.1 to US$15.8 billion, as Boston Herald reported.
Chris Grove, managing director of the firm, said that people in the United States are already betting more than US$60 million every year using offshore sites and the industry generates approximately US$3 billion in revenue as well. “We estimate that a properly regulated market could be worth nearly five times that amount, resulting in a financial windfall for sports betting operators, sports leagues and media and state governments alike.”
Grove estimated that if the Supreme Court rules in favor of New Jerset, 14 states would offer sports betting within two tears. Colorado, Delaware, Connecticut, Massachusetts, Indiana, Mississippi, Michigan, New Jersey, Ohio, Montana, Nevada, Pennsylvania, Virginia and West Virginia would be the first states to legalise the industry, and within five years, California, New York, Illinois, Kansas, Arizona, Idaho, Iowa, Kentucky, Louisiana, Maryland, Maine, North Carolina, Ohio, North Dakota, North Carolina, Vermont, Oklahoma, Washington and Wyoming would be also added to the list.
Within seven years, Alabama, Arkansas, Florida, Georgia, Minnesota, Nebraska, New Hampshire, New Mexico, Oregon, Rhode Island, South Dakota and Wisconsin. could offer sports betting as well.