Sports Betting set to Boom in the US

Sports Betting set to Boom in the US

US Sports just got a whole lot more interesting for fans

 

It’s been a long time coming, but sports betting is finally available in quite a few states in the USA. Since the likes of New Jersey and Pennsylvania paved the way, other states have started to follow suit and it looks increasingly likely that sports betting will become available across the vast majority of US states. And as you may have guessed, this means a boom!

 

States have quickly realized that the betting industry provides them with an incredible opportunity to generate considerable tax revenue that can be put to good use where it’s needed most. So with this in mind, they have been quick to push through legislation and then promote the opportunities for businesses to get started in the industry.

 

Nevada, Delaware, New Jersey, Mississippi, West Virginia, Pennsylvania, New Hampshire, Rhode Island, Arkansas, New York, Iowa, Indiana, and Oregon have already legalized sports betting. Colorado, Illinois, Michigan, Montana, North Carolina, and Tennessee have also pushed through legislation, but have yet to set the ball rolling.

 

So what does this mean for the sports fan?

 

Well, it’s now possible to bet on most sports with the NFL, MLB, and of course the NBA being the most popular leagues to bet on. But before you get started, it pays to know the basics of the sports betting world and understand what you’re betting on.

 

Fans can bet on the outcomes of games or place long-term bets at the start of a season on the outright champions of a league or tournament. These will often provide the longest odds and the most excitement.

 

It’s also made the whole betting experience a lot more convenient. Many fans can now bet online with their favorite sportsbook instead of having to go to the casino. This convenience factor is huge for the industry, as it will encourage more people to get involved.

 

This, along with the fact that states are allowing actual promotion of the industry, will undoubtedly mean a significant surge in market value over the coming months and years. In fact, the sports betting industry in the US is expected to grow to $8billion within the next five years.

 

With proper legislation and regulations in place, sports fans will no doubt have a much better experience than previously. Of course, they’ll need to look after their own records too, but at least they’ll no longer have to face expensive trips out of state to place a bet on the game.

 

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