iGaming Industry
Report: 32 US states could offer sports betting in 5 years
Legal sports betting could be offered in 32 states within five years if the U.S. Supreme Court rules in favor of New Jersey’s quest to offer such gambling, according to a new report.
Eilers & Krejcik Gaming, LLC, which tracks state-by-state gambling legislation, says a new market would be worth more than $6 billion. If all 50 states got on board, legal sports betting could be worth $7.1 to $15.8 billion, they estimate.
Americans are already betting up to $60 billion annually using offshore sites and bookies, said Chris Grove, managing director for the firm. It’s an industry that generates some $3 billion in revenue each year from U.S. customers.
“We estimate that a properly regulated market could be worth nearly five times that amount, resulting in a financial windfall for sports betting operators, sports leagues and media and state governments alike,” Grove said.
His estimate of the illegal market does not include office pools and “social” or “casual” bets among friends that are included in some other estimates of illegal gambling that peg the market two or three times higher.
Grove said the exact size of the opportunity hinges on how many states decide to offer sports betting, and how willing they are to offer a product that can compete with the sizeable, well-established black market for sports betting.
Responding to the report, David Schwartz, director of the Center for Gaming Research at the University of Nevada Las Vegas, estimated a smaller potential market of about $1.4 billion, assuming each state that currently has casino gambling opts to offer sports betting as well. He also said he does not see all 50 states offering sports betting, at least anytime soon due to entrenched opposition to gambling in a handful of states.
Assuming the high court rules in New Jersey’s favor, Grove’s firm predicted 14 states would offer sports betting within two years: Colorado; Connecticut; Delaware; Indiana; Massachusetts; Michigan; Mississippi; Montana; New Jersey; Ohio; Nevada; Pennsylvania; Virginia; and West Virginia.
Within five years, it predicted 18 more would join: Arizona; California; Idaho; Illinois; Iowa; Kansas; Kentucky; Louisiana; Maine; Maryland; Missouri; New York; North Carolina; North Dakota; Oklahoma; Vermont; Washington and Wyoming.
And within seven years, another dozen could offer it as well: Alabama; Arkansas; Florida; Georgia; Minnesota; Nebraska; New Hampshire; New Mexico; Oregon; Rhode Island; South Dakota and Wisconsin. The remaining states might never offer sports betting, the Eilers & Krejcik Gaming report predicted.
The company’s estimates of when particular states might offer sports betting were determined by weighing questions including whether a state already has pending legislation, if there are Constitutional obstacles to expanding gambling; whether their gambling industry is united or divided; the general legislative attitude toward gambling as it exists now in a particular state, and how badly a state needs extra money.
Major professional and collegiate sports leagues oppose New Jersey’s effort to legalize sports betting, saying it would threaten the perceived integrity of the games.
New Jersey is taking aim at a law called the Professional and Amateur Sports Protection Act of 1992 that forbids state-authorized sports gambling in all but four states that met a 1991 deadline to legalize it: Delaware, Montana, Nevada and Oregon. Nevada is the only state to allow single-game wagering.…
The post Report: 32 US states could offer sports betting in 5 years appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
Source: EEGaming.
Bradley Khoury
eCOGRA Approved to Operate in Arizona, Indiana and Panama
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct
BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet
Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
-
gaming2 years ago
ODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018