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.…
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Source: EEGaming.
Alejandro Navarro
Betski Secures $345,000 in Pre-Seed Funding for First-ever Tokenized Casino Ownership Platform
Betski is set to launch its online casino ownership platform in Q1 of 2025, enabling users to earn casino profits through digital tokens. The system will allow anyone to receive a share of casino earnings without managing casino operations, marking a new chapter in the multi-billion-dollar iGaming industry. Supported by a $345,000 pre-seed funding round, the platform aims to democratize access to casino earnings and reshape the multi-billion-dollar gaming industry.
Opening Casino Ownership to Everyone
The platform’s tokenization system reshapes traditional casino business rules through an automatic profit-sharing program. Token holders receive a percentage of every bet placed on the platform.
This system eliminates steep entry costs, such as operational expenses, licensing fees, and administrative management. Users can start earning returns without previous casino experience or large capital investments.
“A small group have exclusively enjoyed casino industry profits until now. Our platform opens these earnings to everyone through our tokenized profit-sharing system, turning users into online casino owners,” said Alejandro Navarro, founder and CEO of Betski.
Direct Profit-Sharing Through Tokens
Through a verified digital system, the ownership program distributes Gross Gaming Revenue (GGR) among token holders. Investors have recognized this potential, contributing $345,000 in pre-seed funding that combines gaming entertainment with digital asset ownership. The platform maintains strict security protocols and automated distribution systems for reliable profit sharing.
“The platform distributes real money to token holders from every bet placed by players. This creates a steady income stream for online casino owners – something the traditional casino structure has never offered,” said Navarro.
Global Growth of Online Casino Ownership
The platform has attracted 2400 active Discord members and over 20,000 followers on X (formerly Twitter). These early adopters are expected to participate in test runs of the profit-sharing system once it goes live. Over the next 24 months, the platform will roll out first in Latin America, followed by expansion into European and select Asian markets.
Betski offers casino games, live casino experiences, eSports betting, global lotteries, fantasy sports, and traditional sportsbooks. This variety creates multiple revenue streams for online casino owners. Players can access all gaming options through a single interface, which streamlines the betting experience and maximizes potential returns for token holders.
The team has partnered with major payment processors and marketing agencies to support the platform’s global expansion. These collaborations will facilitate smooth transactions and user acquisition across different regions. The platform meets all regulatory requirements in its target markets, certifying long-term stability for token holders.
New Opportunities for Investment
Following the successful pre-seed round, Betski is now opening its seed funding round to welcome additional participants into its casino ownership platform. This investment opportunity enables individuals and entities to join the platform’s growth journey ahead of its official launch in Q1 2025.
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.
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