The Rise of Online Betting Solutions Coincides with an Upturn in Public Opinion
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NEW YORK, April 15, 2021 /PRNewswire/ More and more states are launching online betting businesses as the legal infrastructure and public opinion have turned in favor of such services. This year, nineteen states will decide whether to legalize sports betting services this year, either through voter referendums or state legislature statutes. According to a report by CNBC, if all nineteen states vote yes, that will more than double the number of states where sports betting is already legal. This is a big year, said DraftKings CEO Jason Robins in an interview. We ve got about 20 states set to vote on legalization. What percentage of those decide yes - that ll swing things either in a positive or negative direction for us. Last year, three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Bragg Gaming Gr
A Clearer Path to Licensure Spurs New Growth in the Online Betting Scene
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Legalization Efforts Prompt the Rise of New Sports Gambling Options
Feb 15, 2021 3:40 PM ET Legal Newswire POWERED BY LAW.COM
More states are now introducing proposals and bills to further expand sports betting under new regulations, making online sports betting legal or removing certain restrictions. As the legal system slowly becomes more friendly towards online sports betting, states around the country turn towards the young and popular industry as a means for generating stronger tax revenue and improve budgets. For example, last year the progress made in Illinois in regards to online sports betting vastly expanded the mobile wagering options available to the state s 12.7 million residents, helping the state to generate millions. According to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax imposed on gaming
Online Betting Continues to Grow as Regulators Reappraise Their Efforts
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NEW YORK, Dec. 21, 2020 /PRNewswire/ More and more states are launching online betting businesses as the legal infrastructure and public opinion have turned in favor of such services. Next year, major markets such as Michigan will join numerous others as online sports betting becomes legal. However, all operators and platform providers, including popular ones like DraftKings and FanDuel, must still earn final licensing approval from the state before launching services. To illustrate just how popular the online sports betting is in states where the market can already operate, New Jersey recorded USD 803.1 Million in bets on sports in the month of October, setting the national record for the third month in a row, according to the state s Division of Gambling Enforcement. Furthermore, according to a report by Mlive, Michigan s commercial c
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