You can bet that sports betting will grow. From 1984 to 2018, more than 75 billion dollars were put down on sports bets in Nevada. With sports betting now legal in multiple states, the industry will soon reach nine digits.
That’s right. Sports betting is legal in the United States. Many people don’t know that, let alone where in the country sports betting is legal.
Here is a quick guide to U.S. sports betting, and where it is legal to bet on sports.
A Brief History of U.S. Sports Betting
Sports betting was legal in the United States before 1992. But it had a stigma attached to it. Only four states permitted sports betting within its borders.
In 1992, Congress passed the Professional and Amateur Sports Protection Act. The law outlawed sports betting, except in the states where it had been practised.
In the years that followed, consensus changed. The success of sports betting in Nevada and New Jersey prompted many lawmakers to consider legalizing it.
In 2017, the State of New Jersey filed a lawsuit to overturn the PASPA. The lawsuit reached the Supreme Court. They decided in May 2018 to declare the Act unconstitutional, permitting sports betting.
Where It Is Legal to Bet on Sports
Though sports betting is no longer illegal, it is up to state governments to allow sports betting within their borders. Twenty-three different states have passed laws legalizing sports betting.
Nevada, as the state with the longest history of sports betting, has a fully mature market. Most bets are placed in Nevada. All forms of sports betting are legal there.
West Virginia, Pennsylvania, Michigan, and Colorado have legalized sports betting with no restrictions whatsoever. The remaining eighteen states that have legalized sports betting have some restrictions.
Twenty-four states, like Oklahoma and Maine, have made efforts to legalize sports betting. Idaho and Wisconsin have had no efforts. Utah criminalizes any form of gambling.
All states that have legalized sports betting allow you to place bets in-person. Some states do not permit mobile betting. Some states do not allow you to bet on in-state college teams, or on sports with underage players, like esports.
If you do not live in a state that has legalized betting, you can travel to any state that has and place bets there. You must follow the laws of that state. Winnings are taxed at 25%.
Online Sports Betting
Ten states allow you to place bets online. Online access is only permitted within the state you are in. You will be betting only with people in your state.
You can access odds websites from any state. You can find an NBA or NFL pick for free. You can send information over the Internet relating to gambling.
You can access international betting websites from any state in the United States. You can receive money from international websites, but you cannot wire money across state lines.
Online sportsbooks may have different wagering options than services in casinos. Examine different sportsbooks and compare them before placing a bet.
Get the Top Tips
U.S. sports betting is poised to be a multibillion-dollar industry. It has shown tremendous success in Nevada, and it has grown into many states. Learn where it is legal, and find websites that can help you make good decisions.
Once you make money, learn how to spend it. Visit our business page and find the top tips in finance.