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It has almost been two years the United States Supreme Court allowed each individual state to make its own laws on sports betting. Since then, sports betting has surged in the US and according to Market Watch, the sports betting market in the country will make nearly $7 billion in revenue by 2025. The US is a country that loves sports of all kinds whether amateur or professional. It is difficult to believe that it took so long for the country to legalize sports betting. Now that it has, sports fans have jumped at the chance to wager on games from the NBA, NFL, and Major League Baseball. Sports fans are anticipating the first pitch of the MLB season and can use this casino bonus code before wagering on games when the campaign gets underway.
US betting market growth
The US market is set to grow further and could usurp Europe’s vast sports gaming sector. Better Collective chairman Jens Bager recently spoke about the USA’s expansions in the sports betting arena and claimed “it is a market that may surpass Europe in five to ten years”. Fewer than two years into sports betting being legal in the US, Bager has been buoyed by the increase in gambling’s popularity and its potential.
Better Collection produces iGaming products for sports and gambling entertainment. Many of the company’s products can be found online and enjoyed by sports bettors in the US and Europe. The company hopes it will continue to see an increase on individuals opening betting accounts in the US. In 2019, the company saw over 431,000 new sports betting accounts opened. Sports bettors are anticipating the biggest events of 2020 and more new accounts are expected to be opened. Punters can use Mobilebet to get a bet bonus before wagering on this year’s big events when they open a new betting account.
Challenges to the US betting market
There are challenges to the US betting market currently, although the same challenges face Europe as well. The lack of available amateur and professional sports to wager on has made it difficult for online sportsbooks to take bets and make money.
Two of the areas in which sportsbooks have focused is virtual sports and esports. Both allow punters to wager on sports while traditional games are on hold. The return of major sports, however, could lead to a major boon that can last well into the future.
The US sports betting market still has a long way to go to catch Europe’s gambling sector. Europe saw 11% of the betting market grow in the online gaming sector as more people said goodbye to brick and mortar bet shops and hello to new Internet gambling accounts. The United Kingdom made up 32% of the entire betting market in Europe.
Potential is the best word to sum up the US when it comes to sports betting. Currently, 17 states offer full-scale legalized betting. Five more have recently passed billed on sports betting while 26 states have introduced bills but have not voted on them. Those 26 states are likely to sit on the bills for the time being. If sports betting is legalized in most of the country’s 50 states, the sky is the limit for bookmakers. But until more states allow full-scale legalized sports betting, there is just potential for the US to usurp Europe in the market.
