On May 14, 2018, the future of the gambling world in the U.S. began a new chapter. On that date, the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA).
While New Jersey filed the suit that brought the case to the Supreme Court, allowing the state to reap the more immediate rewards of legalized sports betting, the decision set the stage for any state to legalize wagering.
Now four years down the road, 35 states and Washington D.C. have crossed the threshold to legality. More than half of American adults can place a wager in their hometown market, according to a review by American Gaming Association president and CEO, Bill Miller. These folks bet $125.4 billion, producing revenue of $8.8 billion and generating $1.3 billion in taxes for state and local governments.
In the interim four years, 310 partnerships evolved between sportsbooks, leagues, teams, and media companies.
“This is certainly a vast departure from the pre-2018 status quo, when a sportscaster’s veiled reference to a bad beat was usually the most the industries would be allowed to say. New partnerships not only provide a forum but deliver value for leagues and teams while deepening fan engagement,” Miller said.
“Policymakers understand that regulated, legal sports betting provides a safe alternative to the illegal market while generating important tax revenue,” Miller said.
Americans favor expansion of sports betting by almost three to one, according to American Attitudes surveys conducted in both 2020 and 2021.
“This reinforces not only the importance of consumer education but also the need to crackdown on illegal operators that continue to take advantage of customers who are often unaware they are betting illegally. That’s why the American Gaming Association recently called on the U.S. Department of Justice to use their power to investigate and indict these operators.”
