- The future of online sports betting in the United States will only grow larger in the years to come according to studies by the American Gaming Association (AGA) that have been done on the topic.
- Other countries around the globe are also considering legislation for internet sports betting platforms as they are reeling to come back from the Coronavirus Pandemic and the financial losses it’s left them with.
NEW YORK – Online sports betting has been a mixed bag for states legalizing the market, opting for land-based sportsbooks more often than internet platforms.
This is in part due to state laws already in place that would conflict with online sports betting applications as well as some lawmakers just being uncomfortable with the idea that their constituents will have easy access to gambling by using their mobile phones or computers.
However, studies by the American Gaming Association (AGA) show that there will be huge growth for legal online sportsbooks in the United States and other countries over the next few years.
Why The Rise Of Internet Sportsbooks Is Imminent In The US?
In today’s modern-day world, everyday activities are being done more and more through internet outlets.
Paying bills, buying groceries, everything is available through these applications so why not legal sports betting? There’s a reason the phrase “There’s an app for that” took off the way it did; because it rings true.
Now it’s time for states to embrace online US sports betting in its entirety so they too can be part of that popular phrasing.
Not only would internet sports betting be conducive to the market and help the economy of the state where it's been legalized by bringing in extra revenue, but its convenience will also attract a larger number of individuals that will engage in legal sports betting.
It's not just about convenience or staying relevant with modern technologies, it's also practical in times like these with the Coronavirus Pandemic closing all retail sportsbooks nationwide.
States that already have online sports betting in place are continuing to make some kind of profit during the mandatory lockdown of cities while those without it are not.
Now that the outbreak of COVID-19 has taken a financial toll throughout the US, more states are considering legalizing sports betting for the added revenue stream it will bring. If they truly want to get more bang for their buck, they will include internet gambling on sporting events within their legislation.
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It’s a fact that states that allow online sports betting receive over half of their wagers with the use of these applications.
Some states report higher than 80% of gambling activity being done with their internet and mobile platforms.
Other Countries Will See Expanded Online Growth
The United States will not be the only country to see a projected growth in legal online sports betting as countries across the globe are considering this type of gambling outlet as well.
This consideration was not brought on by simply looking at the profit numbers but because of the pandemic. Countries, especially those in Asia, depend on the revenue made by sportsbooks and casinos to help their economy get through the year.
COVID-19 caused so many shutdowns of these businesses that the amount of money lost was monumental and it seems like it will be almost too hard to come back from.
They’ve realized that offering sports bettors and gamblers an internet platform to continue placing wagers even while social distancing would be helpful in the long run if ever something like this were to occur again.
With the popularity of the internet and countries worldwide not in a position to turn away sources of revenue, there will be definite growth in the online sports betting market not just in the US but everywhere.
Countries that allow for transparent and regulated internet sports betting markets are not only helping themselves but implementing consumer safety for their residents. It’s a win/win that sports bettors will be seeing in the future – you can bet on that.
Christina has been writing for different platforms for years. She has a particular interest in writing about any and all sports-related news. If there is a game on, she’s watching it. She has been writing for USAOnlineSportsbooks since 2019.
