Editor's PickForexWhat the US learned about sports betting legalization from the UK

November 2, 2021

Sports betting is one of the fastest-growing industries around the world. There are many reasons why sports betting has gained in popularity over the last few years.

This has a lot to do with the growth of modern technology, which has made sports betting a lot more accessible to various people.

Previously betting would be done through a betting establishment, but with the popularity of mobile apps and devices, more and more people can have access to betting through their mobile devices. However, while sports betting has become popular in most places globally, some countries, such as the United States, have a complicated relationship with it.

This relationship is beginning to change in the United States:

Sports Betting in the UK

The United Kingdom has a good relationship with sports betting. Since its humble beginnings in the 1960s with the Betting and Gaming Act of 1960, which legalized land-based sports betting operations, it continues to be one of the most popular pastimes. In fact, out of all forms of gambling in the UK. Sports Betting has continued to grow in popularity. There are a variety of popular sports betting in the UK from football, and horse racing to cricket.

Many believe that the United Kingdom is one of the leading countries in online sportsbooks, with some of the popular establishments being William Hill, Ladbrokes, and 888Sport.

Sports Betting In the US

In 2018, the US took the leap to join the UK, with the New Jersey Supreme Court voting in favor of allowing any state in the US to legalize sports betting. This has extended to Congress and various lawmakers who are considering the sports betting legislation. This could have a significant change to laws and legislation on betting in the United States.

Previously, online betting, along with any form of online gambling, was deemed to be illegal. However, due to the 2018 decision, each state will be allowed to make its own rules in regard to the pastime.

Which States Have Taken Up the Offer?

In 2018, seven states took the offer to remove prohibitions on sports betting, with 3 of these states allowing in-person betting, while the others allowed for a hybrid of in-person and online betting. In 2019, six more states joined, including New York, New Hampshire, Oregon, and Indiana, also with a mix of in-person and online betting. 2020 welcomed a further six more states, and 2021 added another seven.

While there are a few holdouts regarding the change in legislation, There are some that are coming around to the idea of moving towards legalization. For example, Louisiana is voted, in 2020, the majority to approve permits for sports wager operation. This means that in 2021 Louisiana is looking to sport betting establishments in New Orleans and other cities.

And establishments are already excited to begin. For instance, major sportsbooks such as Fanduel are looking forward to launching when online sports betting in Louisiana goes live.

For now, only time will tell if all 50 states will take part in the sports betting world becoming a powerhouse similar to the UK.

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