On Monday the 15th May 2018 the state of New Jersey won a ruling to allow legal sports betting across the United States of America. This was a landmark case based on encouraging tourism as well as the significant revenues in tax from allowing legalised betting.
But what does this mean and how quickly will you be able to bet?
This really depends on which state you live in, it’s not as simple as being able to go out and start betting on your favourite sports tomorrow! Some experts are predicting that it will be around 1 year from this date on average for most states to allow it. We’d expect to then see sports betting apps in US app store.
Which States will allow betting first?
New Jersey, West Virginia, Delaware and Mississippi look the most likely to be the first over the line for residents being allowed to bet. With New Jersey leading this campaign it’s no surprise to see that they are almost ready to go with their own state legislation.
They were also at the forefront of the campaign to legalise online Poker in the US too, although we’re expecting to see more people betting than playing poker.
Connecticut, New York and Pennsylvania all have legislation in sessions ready for this ruling for both land-based and mobile betting. So whilst New Jersey sportsbook apps may be first to get live they won’t be on their own for long.
From then its a case of the US session calendar playing a part in the legislation. Each state will have to put in place their own legislation and tax laws. Then they will have to allow a license for companies to operate under these rules. It’s well known the large UK/ European bookmakers have been preparing to go into the US market for a while, we’d expect to see William Hill, bet365, Betfair and Paddy Power to be right at the front of the queue! (There was a surge in the share prices of the PLCs on the ruling – Full story here).
By the end of 2019, most states should have sports betting available for residents although there is a chance some states will not approve it. This could be a long saga depending where you live and may take some time.
There are currently 25 states who are not working on the legislation currently – these will be the states that come online in 2019 at the earliest. With major players ready to go the quality of products will be well above what you get from current side providers of sports betting.
This ruling will not affect horse race betting company TVG who’s app allows betting on horse racing in most states already – TVG is already part of Paddy Power Betfair PLC.