US Sports Betting Industry Set to Generate Billions Over the Next Few Years

The US gambling market is considered by many to be the most lucrative in the world. This is especially true now that sports betting is legal in many states. New reports indicate that the US sports betting industry will grow significantly over the next several years.

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This proves just how quickly sports gambling is growing throughout the country. Today, we’ll look at which states currently allow sports betting and which ones are likely to legalize this form of wagering in the near future.

Nearly 20 States Have Now Legalized Sports Gambling

In May of 2018, the US Supreme Court struck down PASPA, a set of laws that limited sports betting to Nevada. With PASPA gone, every state in the country now has the ability to set laws on the sports betting industry. Almost immediately, a huge number of states began regulating this industry.

New Jersey was the first state outside of Nevada to officially legalize sports gambling. It proved to be a fantastic decision. The state’s sports betting market is now the most lucrative in the country. On several occasions this year, New Jersey’s sports betting market has generated more revenue than Las Vegas’.

New York, Pennsylvania, Mississippi, and more states all enjoy a regulated sports betting market. In most of these states, both online and land-based sports gambling is allowed.

Many states have also taken steps to legalize sports betting, yet have not yet launched any sports betting operations. Montana, Tennessee, and Illinois all fit into this category. Hope is that these states will launch their sportsbooks before the end of the year.

It seems likely that in time, every state will legalize sports gambling. Lawmakers across the country realize the massive earning potential from this industry.

New reports shed light on just how quickly the US sports betting industry is growing.

US Sports Betting Industry is Growing Faster than Many Predicted

Everyone knew that sports betting was popular in the US. Not many predicted it would be growing as quickly as it is right now, though. Reports are surfacing that indicate the US sports betting industry will start generating billions of dollars by 2025.

Several investors and sports betting companies made this prediction public this week. Morgan Stanley, one of the top US investment firms, predicts that the industry will generate $7 billion over the next five years, significantly more than the $833 generated this so far this year.

This is still significantly less than what casinos in the US generate every year. It’s still a major revenue increase, though.

Several other companies including MGM Resorts, Hard Rock International, and Mohegan Sun all predict that the industry will generate between $6 to $8 billion by 2025. Many are quick to point out that competition is growing and some sports gambling operators will ultimately fail.

Scott Butera, president of interacting gaming for MGM Resorts International, commented on the competitive nature of the US sports betting industry to the media this week.

“It is a growing market here in terms of revenue but it’s a very tough market,” he said. “Everybody wants to be here. Ultimately I think we’ll see some shaking out. I’ll take the over on $8 billion.”

More States Will Soon Legalize Sports Betting

There’s never been a better time to be a sports fan in the US. As we’ve already mentioned, a huge number of states have outright legalized sports gambling. Soon, many more states are likely to start regulating this industry, as well.

Many believe that California will eventually choose to regulate its sports betting market. California is home to a huge number of tribal casinos. These gambling venues help to generate massive revenue for the state every year. Sports betting would increase this revenue substantially.

At the moment, there are several fantastic betting sites that are available in every single US state. These websites are not regulated by state governments, yet most are well-known for being extremely safe and offer a wide range of both sports gambling and online casino gaming options.

This site has grown extremely popular over the past five years. It allows members to wager on thousands of different sporting events every single month. Feel free to check it out today.

The US sports betting industry is growing bigger every single day. If predictions are correct, this industry will begin generating billions of dollars within just a few years.

Stay tuned for more US gambling news over the next few weeks!

Rules for Gambling Ads on Google Are Loosening

For many years, Google closed off almost all advertisements related to the US gambling industry. Thanks to the legalization of sports betting around the country, this is beginning to change. Gambling ads on Google are now being allowed in some states.Google Logo

It’s a great time to be a gambler in the United States. Today, we’re going to look at which states have sports betting operations up and running. We’ll also talk about Google’s new rules on gambling advertisements. Let’s get started!

Sports Betting Continues to Grow Around the US

Sports betting is growing more popular throughout the country. This wasn’t always the case, though. For a time, only Nevada was legally allowed to offer sports gambling options. Finally, in May of 2018, this all changed. The US Supreme Court officially decided to strike down PASPA.

Doing so gave every state the ability to set laws on the sports betting industry. Almost immediately, states began presenting legislation to legalize and regulate their sports betting markets. New Jersey was the first to do so. Today, NJ’s sports betting market is bigger and more profitable than Las Vegas’.

19 states have now legalized sports gambling. 13 of these states have sportsbooks up and running. The other six are currently working to launch their sports gambling platforms. In time, it’s likely that almost every state in the country will have legalized sports betting.

The world’s biggest search engine hasn’t always embraced the gambling industry. For a long time, Google banned almost all advertisements related to sports betting. Now that states have legalized this form of wagering, however, these rules are beginning to change.

Gambling ads on Google are finally being allowed in the US. It’s a huge development for both gamblers and gambling operators in the country.

Gambling Ads on Google Are Finally Being Allowed

To keep up with the rapidly expanding US sports betting market, Google has just announced that it’s changing its gambling and games policy. According to company officials, sports betting ads will be allowed in states where sports gambling is legal and regulated. As of now, this means that gambling ads on Google will be allowed in Nevada, New Jersey, West Virginia, Indiana, Iowa, Montana, Pennsylvania, and Rhode Island.

Licensed sports betting operators in these states will now be allowed to engage in promotional activities through Google Ads, Google Display Network, Youtube, and more. They will, however, need to ensure that they do not target underage individuals with these ads.

Betting companies will not be able to advertise any other forms of gambling other than sports betting. Google’s official new policy can be seen below.

“Advertisers must provide a copy of their state-issued license in their application to be eligible for the beta,” according to Google policy. “Participants of the beta must not target users outside the state of New Jersey or users who are under 21. Participants must only promote online sports betting, and no other forms of online gambling including, but not limited to, online casino games and daily fantasy sports.”

The ability to advertise on Google is huge for sports betting companies in these states. It will likely help to bring in a significant amount of new gamblers.

Google Also Expands Ad Rules to New Countries

The US isn’t the only country to experience a change in the rules for gambling ads in Google. This week, Google announced that gambling advertising laws were also changing in Colombia, Kenya, and Nigeria. Only licensed companies are allowed to advertise through the search engine, as well.

Of course, this may not have much of an impact in Kenya. The government here has been fiercely cracking down on the country’s gambling industry. The entire sports betting market is shut down here and may never recover.

It’s still great to see Google finally embrace the gambling industry. The ability for companies to advertise online in the US will help this market grow tremendously.

Gambling ads on Google may start appearing all over the US. More states are likely to legalize this form of wagering over the next few months.

Stay tuned for more US gambling news over the next few months!