Sports betting in the United States has become a multi-billion dollar industry as fans continue to desire more engagement and entertainment while watching a game. In mid-June, the state of New Jersey legalized the right to place bets on all sporting events, making it the first state to lead this movement. According to the Division of Gaming Enforcement in New Jersey, about $184 million was bet on sports in the month of September alone. If that figure doesn’t explain how massive this industry is, then I don’t know what will.
The money wagered in bets has helped generate huge amounts of revenue for the nine casinos in Atlantic City and has helped grow its online gambling presence as well. New Jersey’s case against the Supreme Court to legalize gambling has inspired other states such as Delaware, Mississippi and West Virginia to begin its similar operations. Fantasy sports websites such as Fanduel and Draftkings are praising the new era in New Jersey as it now drives more traffic to their services.
It appears that other states will soon be adopting New Jersey’s model and outlook on sports gambling in the coming years. It will be interesting to see where the industry goes and how it can be regulated due to the massive amounts of people who will be participating.
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