Sports betting providers make billions in the US and UK. The hottest gambling metropolis in the USA is not Las Vegas, but Atlantic City. While Las Vegas hosts a number of casinos offering slot and poker games (bandarqq), the Atlantic city hosts Sports Betting and had been successful.
The coastal city of the otherwise less glamorous US state of New Jersey has been experiencing an ascent to America’s sports betting mecca for almost two years.
New Jersey Prepares For Legalized Sports Betting | CNBC
In May 2018, the American Supreme Court rejected the 26-year-old PASPA law after New Jersey sued. The Professional and Amateur Sports Protection Act empowered the government in Washington to ban all 52 states from legalizing sports betting. The requirement was unconstitutional, judged the top judges and put the decision back in the hands of the states.
New Jersey wasted no time: players were able to place their first bets just a month after the decision. “Today we are making the dream of legal sports betting in New Jersey come true. Our casinos in Atlantic City and our racetracks can attract new businesses and new fans and thus improve their long-term financial prospects. This is the right way for New Jersey and it will be ours Strengthen the economy, “said Governor Philip D. Murphy in June 2018. A year later, the state saw over $ 3 billion in wagers.
In the months since the Supreme Court decision, 21 states have legalized sports betting, in 14 of which the first betting shops – whether virtual or in the form of shops – have already opened. Another twelve will vote on approval this year. Market research firm H2 Gambling Capital estimates that legal bets of $ 9 billion were placed from May 2018 to May 2019.
“With an average betting fee of 6.7 percent, providers are expected to gross $ 600 million,” said the analysts. The market has thus doubled in the past twelve months. And the boom continues: In 2030, industry experts expect gross profits of $ 8.42 billion.
Online providers, sports leagues, statisticians, casinos – everyone wants to earn money. Companies like DraftKings and FanDuel became known with fantasy betting games: participants put together a fictional team in football, for example, score points based on the results of the players, the best win a cash bonus. Both fantasy game giants now offer sports betting. Bets placed on mobile phones and on the Internet already make up a large part of legal bets. Business is going so well that DraftKings has announced an IPO for 2020, FanDuel is also aiming for an IPO.
Both companies have contracts with the basketball and football leagues NBA and NFL to obtain statistics for their betting offer. The leagues also sell their statistics to sports service companies such as the Swiss group Sportradar and to casino operators such as MGM Resorts and Caesars Entertainment, which have long since offered sports betting themselves.
Sports channels such as Fox Sports and ESPN can also hope for profits: betting opportunities mean more TV viewers who follow the course of the game with fascination. Live betting, where players can bet money even during the match, promises to be a gold mine: “We’re creating a market that didn’t exist,” said Scott Warfield, managing director of gaming for the American Motorsport Association, the news channel CBS.
“How do we get our fans to watch 30 or 45 minutes longer? We can do that if they bet on the second stage or who leads in the 100th round. You can bet a lot.”
Great Britain has shown how the industry is inextricably linked to professional sports: Ten out of 20 football teams in the Premier League are wearing the name of a betting company as a sponsor on their shirts this season. Once primarily focused on horse betting, Britain’s betting industry began to rise in 1961, when the betting and gaming law allowed British providers to open offices outside of racetracks.
In 2005, the government allowed advertising for sports betting. The spots are inevitable today: In 2017, researchers from Goldsmiths College at the University of London examined the broadcasts of three football games and found that viewers at BBC watched 71 to 89 percent of the time advertising for betting providers: as gang advertising, on player jerseys, as TV spots or Overlays during transmissions.