Sports betting in the US has a long and storied history. It’s been the subject of hotly contested debate, both legal and ethical, and as such laws and attitudes towards sports betting vary from state to state.
Sports betting has also experienced waves of government action that have impacted the industry significantly. The legalization of sports and casino betting is a pro-gambling decision, and it was first adopted by the state of Nevada in 1931.
Since then, sports betting has been on a rollercoaster ride in the US. Let’s explore how the industry has evolved over the years and where it might be heading in the future.
Definitive Industry Changes
Despite government attempts to curb gambling, sports betting still occurred illegally, netting over $50 million annually compared to Nevada’s record of legal sports betting at the time, a total of $5 Million. This clearly demonstrated that government efforts were ineffective.
In May 2018, the Supreme Court overruled the 1992 PASPA ruling that prohibited sports betting in all but four states. The ruling was deemed inconsistent with the Constitution and oppressive to states’ freedom to make gambling laws. Following this decision, starting with Delaware, other states began to permit sports betting. Today, 38 of 50 states allow sports betting in the US.
Since the ruling in 2018, gambling in the United States has grown exponentially, with a record of over $430 billion in bets since 2018. Sports betting is now integrated into sports culture and greatly popularized, with sports news anchors and broadcasters making references to betting odds and plenty of advertising and marketing from operators.
One effect of this change is revenue; the government has received an estimated $40 billion. It also helps to preserve horse racing tracks across states and protect citizens from illegal offshore gambling sites.
Possible Coming Changes
The adverse effects of gambling will always occur if the industry is not adequately regulated. To address this, two US lawmakers have introduced new legislation. The SAFE Bet Act seeks to implement minimum standards for betting operations on a federal level and address possible health and public effects of gambling.
As sports betting became legal in more states, there has been an increase in reports of gambling addiction among citizens. Prompt action is required, and part of the legislation aims to tackle the issue through tech tools like AI, responsible gambling campaigns and affordability checks.
What Does the Future Hold?
Over the last decade, we have seen notable changes in sports betting and gambling in the United States. The industry is going through boom times, with regulated markets being introduced across the country. While there still might be a few bumps in the road ahead, the future looks bright for sports betting in America.
