The US has been going through some major change over the past four years in regards to online sports betting, after states were permitted to make their own decision on whether or not it should be allowed and new bills had been submitted the few who got out early have been finding huge success but one space still lacking is within online casinos – many other countries around the world don’t have the same issue with a huge number of online options with some more sites that extend into the US too, but is it possible for online casino legislation to catch sports betting?
For the states that have already introduced online sports betting, it seems that it’ll only be a matter of time for online casinos to emerge too as the numbers put forward are very enticing – states like Colorado had experienced over $2 billion in wagers placed for the first year that online options were legalized with a revenue of nearly $150 million following that, with $6 million going to tax. It shows the promise for online platforms as a whole, and if the market exists for online casinos, then it wouldn’t be at all surprising to see similar numbers.
For the states that have yet to make the change, the prospect of online casinos seems quite unrealistic if it will happen at all – online sportsbooks have been pushed back for a variety of reasons including the lack of priority or the lack of support, with others finding blockages from existing tribal casino rights where language in the legislation has been an issue. Since sportsbooks seem to be the easier prospect to get through, casinos will play second fiddle here and the wait may be much longer.
Speaking of tribal casino rights, this is something that is being explored and could speed up the launch in very specific states – some have already signed compacts to ensure that some terms continue to be met in the future and some have been given the permission to launch their own online platforms in place of the bigger operators that would otherwise launch in their place.
It is still a space that’s changing extremely quickly though, so there’s lots of room for adjustment in a very short period of time, one-week online casinos may be a topic of non-discussion and the next week it’ll be the next big launch for a state. It’s a very exciting period of change, and opportunities for both operators and players are always growing.