Sports betting is the new big business that will change industry forever. Online casinos and sports betting are being legalized in many US states, adding huge amounts to state revenues and creating new jobs. Sports betting is really ramping up the money in the states that legalized it as it allows people to gamble that haven’t had the chance until now. By opening up the betting market to such a wide audience, sportsbooks are pushing the industry down a new path.
People all over the world have been wagering on sports for decades, yet the topic has been making a lot of headlines this year. A large contributor for this was a recent US Supreme Court ruling that states could enact online sportsbooks. Before, only the famous Las Vegas and select others could do it. In light of the ruling, states raced to enact sports betting measures for this year and 2022. The big push was to get sportsbook apps operational in all the states that allowed it. As 2020 proved, a fully online business is key to success in the current climate. Bonus points if it can be done using a smartphone app.
The sports betting measures in the US are leading to a boom of business for sportsbook operators like DraftKings, FanDuel, and BetMGM. As demand for these services reaches a fever pitch, the services will use quality of service and promotions to compete. US bettors are being enticed with slick new apps and tempted with the generous BetMGM bonus code. As the platforms battle for all these new US customers, the result will shape the industry all over the world by forcing innovation and new marketing tactics.
The Progress Of US Sports Betting
Sports betting was a point of contention in the United States for many years. A federal prohibition blocked the industry from growing until 2018, when the Supreme Court reverted it. States began legalizing gambling immediately with hopes of sharing a large portion of the revenue. In the US, gambling is largely run by the Native American tribes. Even big names like BetMGM are either owned in part by the tribes or partner with them. Due to this, the US states have to observe special rules when it comes to allowing sports betting.
The big one was that sports betting had to happen onsite in tribe-owned casinos first. Some tribes even tried to block it from spreading beyond there, hoping to keep the business on their lands. Others agreed to online sports betting as long as the servers that hosted the games were maintained on their land.
States that do let sportsbook apps service the entirety of their domain are posting millions of dollars in revenue a month. People who don’t live near casinos are finally getting a chance to gamble on their weekly sports games and are taking it. The effect is sure to be very pronounced in New York City, which doesn’t have any casinos. When the Big Apple’s millions of citizens are given a chance to use sports betting apps in early 2022, the business is sure to take off in a big way.
Taking It Worldwide
It won’t be too long before we see what effect the emerging US sports betting market has on the world. For one, sportsbook apps have seen a massive increase in users over the past year. Online gambling will probably see some innovation as it becomes a competing platform. On the other side of the coin, in-person betting stations will need to offer some incentive to stay alive. People will flock to the convenience of apps and the promo codes they offer. Casinos will need to up their luxury game so that they can boast the experience they offer. Perhaps we might even see something akin to promo codes tested in casinos, a sort of lower-tier VIP package.
Sports betting will be an industry to watch in 2022. Profits are sure to be amazing, and the lessons learned as sportsbook apps hit the US in full will apply to businesses all over the world.