The past three years have seen so many changes in the way that Americans gamble. An increasing number of states are now legalizing gambling, particularly on sport. This has proved to be good news for not just gamblers, but betting companies and state finances.
Until the US Supreme Court ruling three years ago, the US gambling scene was very different. There was plenty of frustration and not just if the Chicago Bears conceded a late touchdown. Gambling companies were unable to launch sportsbooks and individual US states could only dream of all the tax revenue they were missing out on.
Then came that court ruling, and states were able to decide themselves whether or not to legalize gambling. It wasn’t long before states began to legalize gambling. The legislators must have had dollar signs in front of their eyes when doing so.
It hasn’t been a win-win situation for everyone though. There are still many US states that are yet to legalize gambling. One state that has legalized sports gambling is Illinois.
States that haven’t legalized gambling will look on enviously at those who have. They will be receiving millions of dollars in tax revenue, while they won’t. The financial problems caused by the pandemic will be a major factor in deciding to legalize gambling. The politicians may not be in love with doing so but a look at their budgets may change their opinions.
For US gambling companies, it’s the world they’ve always wanted to live in. Every day must be spent looking for updates on which will be the next US state to open their doors to gambling. Bricks and mortar casinos have been able to add betting on the MLS and NBA to their list of services.
Little did they know of course just how important their online presence would become. As the pandemic hit hard, their land based casinos were temporarily closed or had restrictions based on them. The online revenue was still there now and that was much needed revenue.
Companies such as MGM Resorts International, FanDuel, Caesars Entertainment and DraftKings have flourished in recent years. As they have been able to launch more and more sportsbooks, their businesses have expanded.
FanDuel and DraftKings for example are no longer just sites where you can indulge in a spot of fantasy betting. The real deal has arrived and it’s doing their balance sheets the world of good. The US companies are also looking at expanding in other ways.
Caesars Entertainment purchased British bookmakers William Hill. Both MGM Resorts International and DraftKings have had their eyes on buying Entain, who own several top British bookmakers. International expansion now seems to be the name of the game.
The biggest winners though are the gamblers. Well hopefully they will be if their bets come in. The frustration at not being able to legally gamble is over in many states. This ends the days of joining offshore sites where no protection is available, reported US Daily Review.
It’s still annoying for those who can’t, and geolocation checks are important for gambling companies. In time, more states will be legalizing gambling and the long wait will be over.