Thu. May 23rd, 2024

Online gambling is legal in 48 states and the District of Columbia. 24 of those states allow sports betting, 10 offer regulated online casino gambling, seven permit legalized poker games. Some states and jurisdictions also accept virtual racetrack gambling; such examples can be found in 13 states and DC.

Since the Supreme Court overturned the federal ban on sports betting in 2018, Nevada and New Jersey have led the industry while Pennsylvania, West Virginia, Rhode Island, Michigan and Mississippi have also established sports gambling markets; other states have passed legislation but have yet to launch markets.

Colorado was among the earliest states to open their sportsbooks following the Supreme Court ruling and has quickly grown into one of the most robust markets. Now boasting 21 licensed operators and popular betting apps like DraftKings and FanDuel, it ranks fifth overall for sports betting handle in terms of market share despite an in-state college team ban having reduced market share significantly.

Mississippi, like other Southern states, has been reluctant to expand gambling despite its potential revenue gains. They only recently opened their sportsbook six months after Supreme Court’s ruling and have become a top ten market. Unfortunately, a restriction on mobile wagering has hindered growth and made entering new states difficult.

Arkansas has also established regulations to permit sports gambling but has yet to launch their market. Their regulation session ended without progress being made on any bills related to sports gambling and lawmakers are expected to revisit the matter in another meeting session.

State regulators have adopted rules enabling tribal casinos to introduce sports betting through licenses that cost up to $1 million; tribes will then need to set aside 51% of revenue for education purposes.

Nevada, which is renowned for its casino industry, allows online gambling. Regulators in the state are working closely with lawmakers to open up more of its markets.

New York and Massachusetts both passed bills legalizing online sports gambling in 2022 and will soon launch their respective markets – Massachusetts will use a hybrid system including both retail and regulated online sportsbooks; New York will operate exclusively online – both states offering lucrative tax rates to attract operators. New Mexico does not yet have legal sportsbook operations but allows Native American tribes to run in-person operations under interpretations of gaming compacts as being permissive of Class III gambling operations since October of last year.

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