Sports Betting Regulation Being Spread Across Various States In USA
- With sports betting getting the go-ahead from the US Supreme Court, the regulation is now spreading across states.
Along with the heat, 2018 summer has also brought the trend of sports betting in various states of US, both live and online. But one thing that hasn't materialized yet is the regulation of online casino gaming and poker. The following states have gone quite a few steps towards sports betting:
Rhode Island is in its penultimate stage of entering the league of sports betting states in the U. S. On Wednesday, the Rhode Island Senate approved the state’s 2019 budget. It stated an estimated revenue collection of $23.5 million from a regulated sports betting industry. To realise all this, all it awaits is the signature of Governor Gina Raimondo.
Live sports betting will take place in The Ocean State’s two Twin River casinos, with the betting software provided by IGT. IGT will also govern the state's lottery industry. Well, there is no assertion on the fact that whether Rhode Islands would be able to generate that much of revenue or not but $14.75 million is expected to go to IGT and the casinos take will be around $8 million, with wagers coming in to the two casinos of slightly more than $900 million. However, the first bets aren’t expected to be registered in Rhode Island until October.
Mississippi is on the verge of joining the fraternity too. Last year, politicians in Jackson amended their state regulations on gaming to include sports betting. The bets have to be placed in the state casinos. Those regulations were put on hold until this May when the U. S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) of 1992 and opened sports betting for individual states.
We’ve been exploring options and locations for at least the past two months expecting it (the SCOTUS decision) to happen,” Golden Nugget general manager Chett Harrison told the Biloxi Sun Herald. “It’s definitely going to be a good boost for Mississippi."
It is being expected that the bettings would commence by the end of July but no estimation of revenue collection has been given out yet.
Although Mississippi and Rhode Islands would get into the league shortly, New York will have to wait for a while. The Legislation met on Wednesday to discuss the matter but neither of the party leaders, being sceptical about the decision, voted for the matter. Thus, New York and it's 20 million citizens will not be provided with sports betting regulation. This means New York will lose all that revenue which it was to amass, unlike other states like New Jersey. Thus, it is thought that Albany’s legislators will quickly pass sports betting regulations in 2019.
Amidst all of this, one thing that is getting highly neglected is the regulation of online casinos and poker.Published 25 Jun 2018, 15:30 IST