Sports Betting Legalization in the United States

Written by adminss on August 9, 2022 in Gambling with no comments.

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The Washington Post closely tracked the controversy surrounding the D.C. Council’s controversial decision to award the contract for sports betting to Intralot. The council acted without considering competing bids and bypassed the traditional Request For Proposals process to appoint Intralot as the city’s sports betting vendor. That decision may have impacted other sports betting vendors. But the controversy is not over yet. Legalizing sports betting in the U.S. can bring great rewards to the sports betting industry, as well as to the city’s tax revenue.

Legalization of sports betting in the U.S.

The growing popularity of legalized sports betting in the United States may be correlated to the increase in the number of Americans who participate in the activity. A recent Gallup poll found that one in six Americans gamble on professional sports on a yearly basis. Furthermore, a study conducted by Oxford Economics found that one in three Americans participate in sports betting. While the number of people who participate in this activity is still small, it’s significant enough to warrant a rethinking of the current state of affairs.

The Supreme Court ruled that New Jersey may be able to legalize sports betting, removing Nevada’s monopoly on the industry. The decision will also allow other states to regulate sports betting on their own. Ultimately, the question remains whether Congress will regulate the industry federally. New Jersey Gov. Phil Murphy hailed the decision, which came after a lawsuit by former Gov. Chris Christie. However, other states may not get involved until the federal law is changed.

Legalization of sports betting in North Carolina

The prospects of legal sports betting in North Carolina are looking increasingly promising, but the state will have to navigate several hurdles before it can become a reality. First, the House of Representatives must pass the bill, which passed the Senate last year, by a vote of 51-50. Next, the Senate must agree with the House’s vote and hold a concurrence vote. Once the bill clears these hurdles, it will then have to be signed by Gov. Roy Cooper.

Though retail sports betting in North Carolina is still a long way off, the state is taking steps to make it more user-friendly. State officials anticipate that sports betting shops will offer over thirty-odd sports markets. The emphasis will be on local sports franchises and other high-profile events, including NBA and MLB games. Legal mobile sports betting is also in the works, but the lack of mobile apps may limit the market.

Legalization of sports betting in Ohio

Sports betting in Ohio will officially go live on New Year’s Day 2023. The Ohio Casino Commission Control announced this date in June after the state’s Governor signed House Bill 29 into law in December. The commission has set the fees and requirements for sports betting licenses. In summer of 2022, applications for sports betting licenses will open. Approximately 3,000 applications will be reviewed before the official launch date. This is a significant milestone in the development of sports betting in Ohio.

The state’s sports betting legislation calls for a tax on winnings from sports wagers. In other words, the state will charge a 10% tax on sports betting revenue. Ohio sports betting will be legal on professional and college sports, as well as on Ohio schools. Ohio’s legal betting age will be 21 years old. Likewise, there are provisions for the establishment of retail sportsbooks in the state. The state will also issue a license to professional sports teams and venues to offer sports betting.

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