Sports betting and iGaming are hot topics across the US and something that continues to be discussed and debated fiercely nationally. This has led to many wondering whether the industry will be able to take over. The answer to this question is a resounding maybe.
There are many factors at play that could lead to a surge in sports betting and iGaming in the United States, but there are just as many factors that could prevent it from happening. It really all depends on how everything shakes out in the coming years. Let’s take a look at some of the reasons why sports betting and iGaming could take over the US, as well as some of the potential roadblocks.
The Rise of Sports Betting and iGaming in Europe
One of the main reasons why many industry experts believe that sports betting and iGaming could take over the US is because of what has happened in Europe. In recent years, both industries have exploded in popularity on the continent, with more and more people placing bets on a variety of different sports and playing all sorts of different casino games online by using the sites that can be found on platforms highlighting casinos not on gamstop, where only safe experiences can be enjoyed and where it is possible to obtain exclusive bonuses. If this trend were to continue and make its way across the Atlantic, there is no doubt that sports betting and iGaming would take over the US.
Favorable Supreme Court ruling
Another reason why sports betting and iGaming could take over the US is because of a favorable Supreme Court ruling. In May 2018, the Supreme Court struck down a federal law that banned sports betting in all but four states. This ruling opened up the possibility for other states to legalize and regulate sports betting, and many have taken advantage of this opportunity. As more states legalize sports betting, as well as iGaming activities, it will become more normalized and accepted, which could lead to even more states legalizing it. And if enough states do legalize it, then the activity could certainly take over. We have already seen huge amounts of success in states such as New Jersey, Pennsylvania, and Michigan to name a few, with each of them able to bring in millions of dollars, as has New York in less than a year of being live.
The Potential Roadblocks
Of course, there are also several potential roadblocks that could prevent sports betting and iGaming from taking over the US. One of those roadblocks is state regulations. While some states have been quick to embrace sports betting and iGaming, others have been much more hesitant. In fact, there are still several states where certain activities are completely illegal. Until more states legalize both activities, it is unlikely that they will take over the US. California is one that continues to have discussions regarding Proposition 26 and 27, thus suggesting progress, but there a decision is yet to be made.
Another potential roadblock is federal regulation. Even though the Supreme Court struck down the federal law that banned sports betting in most states, there is still a chance that Congress could pass a new law that would ban it again. If Congress were to pass such a law, then it would undoubtedly hinder the growth of both industries in the US.
So, will Sports Betting and iGaming take over the US? There are certainly many reasons why it could happen, but there are also several potential roadblocks that could prevent it from happening. Only time will tell how everything plays out.