Sports betting is an activity in which people place bets on the outcomes of sporting events. The sports bet upon differ according to culture, but the majority of bets are placed on American football and association football. Other sports commonly bet on include baseball, basketball, track cycling, and horse racing. While it is mostly associated with athletic competition, sports betting has also expanded to include political contests, non-human contests, and entertainment events such as boxing.
New Jersey legalized sports betting
After four months, New Jersey has seen an increase in sports betting revenue. The gambling industry in the state has generated nearly half a billion dollars in wagers. It has also created many jobs in casinos and racetracks. However, the federal government’s proposed legislation would severely limit the growth of this industry in New Jersey.
The first quarter of 2019 saw a hefty $862 million in internet sports betting in New Jersey, compared with just $216 million at the state’s terrestrial casinos. The two largest online sports betting sites, FanDuel and DraftKings, together cleared more than $700 million in bets. Both companies collect about five percent of each bet, resulting in an estimated $35 million in sports gambling revenue.
Oregon legalized sports betting
In August of this year, Oregon legalized sports betting for residents of the state. The state lottery is responsible for the licensing and regulation of sports betting. In Oregon, sports betting is available in casinos and on a mobile app. Native American casinos do not offer licensed sportsbooks. The Oregon Lottery selected SBTech, a company with operations in five casinos in the U.S. The state lottery will only offer sports betting on professional sports leagues. Betting on college games is not allowed, as college sports are considered easier to handicap.
Until now, the only land-based sportsbook in the state is Chinook Winds, which has its base of operations in Lincoln City. However, more tribal casinos are expected to open sportsbooks in the future. In addition, Oregon has a mobile sports betting platform operated by the Oregon Lottery.
Pennsylvania legalized sports betting
Pennsylvania legalized sports betting in November 2018 and transitioned to an online-only market in May 2019. The Pennsylvania Gaming Control Board regulates the industry, which now offers several options for sports bettors. There are several Pennsylvania casinos that offer sports betting. Additionally, there are a number of sports betting apps and online sportsbooks.
Pennsylvania is one of the few states that has legalized sports betting. While some residents are educated about the laws, others have misconceptions. For example, some residents think that offshore platforms are illegal. But there are several differences between Pennsylvania-licensed sportsbooks and offshore sites.
Oregon grandfathered in sports betting under PASPA
Since PASPA’s repeal in 2018, sports betting has been legalized throughout the country. However, there are still some states that haven’t legalized sports betting. One of these states is Oregon. The state’s lottery has announced plans to begin retail and mobile sports betting in time for the 2019/2020 NFL season.
Delaware, Montana, Nevada, and Oregon were grandfathered in by Congress, which meant that sports betting is legal in these states. Until recently, these states had to pass separate legislation to allow sports betting. While PASPA prevented states from regulating sports betting, it exempted certain kinds of betting. In addition, the law did not prohibit gambling on horse races, which may not be a sport.