Sports betting is now legal in several states, including Colorado, New Jersey, and Arizona. In this article, we will discuss the regulation of sports betting, as well as Arizona’s recent legalization. In addition, we’ll explore what the legalization process looks like and what sportsbooks should expect. If you’re considering making your first bet, make sure to read on for some tips and tricks. Once you’ve found your ideal betting system, you’ll want to stick with it.
Legalized sports betting in Arizona
The state of Arizona recently approved legalized sports betting. Under the regulations, 20 licensed gambling operators can open brick-and-mortar retail betting operations and have two licensed online sportsbooks. The latest licensed sportsbooks in Arizona include Betway, Desert Diamond Sports, Hard Rock Sportsbook, and BallyBet. Others have already secured license partners. A fifth bookmaker is set to open in the near future, called SolSports.
While sports betting is currently legal in other states, the process in Arizona has been bumpy. Legislation has been introduced multiple times, and some issues have been predicted and unforeseen. A typo in a document has nearly derailed the legal sports betting process in Arizona. However, it seems that the process will move forward. Here are the most important milestones:
Legalized sports betting in Colorado
In the first three months of legalized sports betting, the state raked in more than $244.5 million in bets, up from $300.1 million in March. Colorado had the largest market for sports betting, with table tennis bringing in the most money, at $6.6 million. Other popular sports, such as MMA, baseball, soccer, and golf, drew in less than one million bets each. Last November, voters approved Proposition DD, which legalized sports betting in the state and directed some of the tax revenue to water conservation projects.
In 2008, Colorado voters passed Initiative 50, allowing for 24 hour casino gambling at three locations. The following year, House majority leader Alec Garnet introduced HB 1327, which would legalize sports betting in Colorado. The bill would require a referendum vote, and the bill would not become law until voters approve it. By mid-2021, 20 other commercial sportsbooks are live online in Colorado. Three more sportsbooks will open in remote areas, including Denver and Fort Collins.
Legalized sports betting in New Jersey
Legalized sports betting in New Jersey has become a hot topic in the United States, and the state’s pending case against the NCAA was no exception. Last year, the NCAA sued to prevent the state from allowing sports betting. The NCAA asserted that PASPA, which is found in 28 USC section 3702(1), prohibits states from authorizing sports gambling. Nevertheless, it does not violate the anti-commandeering doctrine. The Third Circuit Court of Appeals, which ruled against New Jersey, upheld the district court’s ruling and denied Governor Christie’s writ of certiorari, distinguished between repeals and affirmative authorizations of PASPA.
While there are still some regulations to follow, legalized sports betting in New Jersey is one step closer to becoming a reality. In November, voters approved legalized sports gambling in New Jersey by an overwhelming margin. While the gambling age remains 21 in New Jersey, there are a number of advantages to betting online. A legal NJ sportsbook will process your payments quickly and efficiently. And, once you have your account, you can start making bets and winning money!
Regulation of sports betting
Recent legislation in the US and various states has begun the process of regulating sports betting. Some states have already adopted such regimes, including Rhode Island, where the state had estimated a $1 million per month tax revenue from sports betting. However, it appears that Rhode Island did not get nearly as much revenue as anticipated. The state ended up making only 5 percent of the expected amount. Despite the lackluster financial returns, sports betting has attracted American consumers, and this trend is likely to continue.
In 1996, Congress established the National Gambling Impact Study Commission, or NGISC. The commission studied the social consequences of gambling, including the proliferation of organized crime and gambling rings on college campuses. One of its members, Dr. Tim Kelly, testified that there were many illegal gambling rings at different universities. As a result, the NGISC recommended that sports betting be banned in the U.S., because of its impact on the integrity of sport.