The United States Supreme Court recently lifted a federal ban on sports gambling. This could mean big changes to the U.S. sports gambling market and new opportunities for bettors in the USA that want to give online sports betting a try. Until recently there was a federal ban that made it illegal to be on sports in the United States. Many times opponents of this law tried to get it lifted or reversed over the years but they were always unsuccessful as the major sports leagues didn’t want to see it overturned. All that has now changed and the recent ruling from the Supreme Court has paved the way to make online sports gambling legal and regulated throughout the United States.
Online Sportsbooks are Entering the U.S. Market
With the federal ban lifted many online sportsbooks are either entering or preparing to enter the United States sports gambling market. Online sports gambling in the United States is said to generate billions of dollars annually for sportsbooks that have been operating offshore. Until now the opportunity for sportsbooks to operate within the borders of the U.S. didn’t exist and the revenues from these websites were pushed outside of the country. With the recent sports gambling law updated some major players like 888 and Bet365 have already announced their entry into the U.S. sports betting market and many more of the top online sportsbooks are likely to follow their lead.
USA Sports Betting
The primary argument against allowing sports betting in the USA was coming from the sports leagues themselves over concerns that it could lead to players throwing games in order to offset the odds of big money sports wagers. Those concerns previously weighed heavily on all of those involved however the opportunity to offer licensed sports betting to the citizens of the United States and bring in much needed taxable income finally won the fight and regulated online sports betting in the USA is now becoming a reality. Draft Kings recently announced its preparing for New York sports gambling with a casino deal. There will likely be more news on such announcements coming in the weeks ahead as companies position themselves to enter the USA sports betting market.
Bitcoin Sports Gambling
There have been many Bitcoin sports betting sites accepting bets from people in the United States and until recently it was unclear how gambling on sporting events with Bitcoin was potentially different that online sports betting with Dollars. There were many of the opinion that because Bitcoins were not and are not considered money that sports gambling in Bitcoin (BTC) was not actually illegal. This widespread opinion created a demand and a supply for Bitcoin sportsbooks that accept U.S. players. It will be interesting to see if the demand for the USA bitcoin sportsbooks goes away now that the path has been paved for legal sports gambling across the United States.