Race to capitalize on U.S. sports betting to continue in 2019
The number of U.S. states with legally approved sports betting will more than double in 2019 from nine to 18 or more as lawmakers capitalize on last year’s U.S. Supreme Court ruling that overturned a federal ban, according to a report published by GamblingCompliance, a London and Washington D.C.-based provider of independent business intelligence to the global sports betting industry.
As many as 33 states are expected to consider bills to regulate sports wagering during their 2019 legislative sessions, GamblingCompliance’s 2019 U.S. Sports Betting Outlook report predicts. Of those, between six and 13 states are tipped to pass legislation, while other states are expected to move forward this year under the terms of laws already on the statute books. Leading the pack of states most likely to pass bills or adopt implementing regulations are New York, Michigan, Indiana, Arkansas, Kentucky and Connecticut, plus the District of Columbia. Other key states to watch include Illinois, Massachusetts and Ohio.
GamblingCompliance’s U.S. Sports Betting Tracker, an analysis service, projects legal sports wagering in the U.S. to be worth approximately $648 million in revenue in 2019, versus an estimated $400 million in 2018. Total revenues should then grow to $1 billion in 2020 and could even exceed $2 billion if legislative trends follow GamblingCompliance’s most optimistic scenario for this year.