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The Changing Face of US Sports Betting - ABC Money

4th March, 08:41

When you think of gambling in the USA, you will immediately think of Las Vegas. This is because up until recently, the state of Nevada was the only place you could legally bet.

Fast forward to 2020 and the US betting market has come to life, with the expectation being that it continues to sharply rise over the next decade.

At the start of 2020, 14 states allowed sports betting to take place within their boundaries. Many others are on the cusp of allowing it, with the correct legislation in place to move forward.

The expectation is that we will be up to around 20 states by the end of 2020.

It was in June 2018 that the first sports bets were taken anywhere outside of Nevada. This paved the way for what we have today, with Delaware and New Jersey being the first states to allow sports betting.

There was no sudden urge from people to gamble, that had always been there. However, strict laws had always prevented those interested from taking part. That has made other types of competition such as fantasy sports and work pools hugely popular in the US, but those could be on their way out.

With sports betting gradually taking over, the need to play fantasy sports won't be as strong. The same goes for betting in work pools, why put your money in the pot if you can get better odds and bet exactly how you want to with a bookmaker?

All the US needed was one move to open the floodgates. June 2018 and the ability for people in two states other than Nevada to place bets will go down in history as being that first move.

While it may only be a tiny island in comparison to some other places around the globe, the UK gambling market is one of the largest. Many of the big UK bookmakers are staking their claim to the US markets.

William Hill have been at the forefront when it comes to applying in many states, clearly signalling their intention to have a strong US presence. In terms of potential customers, the US market could not only match the UK market, but could eventually dwarf it.

The UK market has many good betting offers available for customers to use, and the expectation is that those will find their way into the US market. No deposit betting offers are not easy to find but provide customers with the chance to try betting risk-free, ideal for newcomers.

It will take more states to get involved, but the signs are all there that the US sports betting market will eventually grow to be even bigger than that in the UK. This is despite the UK market being in play for many years and the US market only just starting.

The first thing to expect is more states to officially legalise sports betting this year. States such as Colorado, Montana, Washington and Tennessee are all close to completing the deal, with some of those expected in the first half of 2020.

We are also likely to see a new wave of states come on board. These are the ones who agree via votes and legislation that legal sports betting can happen.

Those doing that in 2020 will not be officially betting until 2021, but it is another sign that things are moving at a rapid rate.