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п»їLegal Sports Betting Is Bigger than Ever -- But COVID Could Hurt Bets on the Big Game.
Sports betting is more popular, and legal, than ever, and one of biggest draws for bettors every year is wagering on the Big Game. But, like everything else right now, COVID-19 is having an impact on football betting this year.
In the video below, we'll take a closer look at why wagers on Sunday's game will likely be lower than usual, and how online sports betting -- fueled by companies like DraftKings (NASDAQ: DKNG) -- are scratching an itch for those wanting to place bets during socially distant times.
Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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7 States to Watch for Sports Betting Legalization in 2021.
Lev Radin/Pacific Press/LightRocket via Getty Images. Pictured: Andrew Cuomo and a New York Islanders hat.
Virginia and Washington legalized sports betting bills in 2020 while Maryland, Louisiana and South Dakota approved ballot measures that could bring legal wagering as early as 2021.
Heading into the new year, at least a dozen states are expected to take up sports betting legislation � some with existing retail betting with eyes on online expansion, and others with no sports gambling at all yet.
Here are seven states to watch in 2021:
New York: Sports betting is already legal in New York but only at retail sportsbooks, which have combined for only a few million dollars in revenue since wagering began last year. Legalizing statewide mobile wagering could help position New York as the nation’s most lucrative market.
Home to the nation’s largest metro area and fourth-largest population overall, New York will, once again, be a major focal point for legalization efforts in 2021. Statewide mobile legislation has faltered in the legislature each of the past two years, but facing a multibillion-dollar budget shortfall, elected officials may finally have enough political momentum to pass an online betting bill.
Connecticut: Connecticut may be the most likely state to approve legal betting, with some lawmakers already claiming it’s all but a done deal. The state’s two casinos already have sports betting deals in place ahead of a possible legislation effort and it appears politicians and gaming stakeholders are on the same page for what a potential legal market would look like.
As officials seem closer than ever to a deal, the biggest question may be the number of operators allowed to enter the state. Foxwoods and the Mohegan Sun casinos may be content to only allow one mobile sportsbook apiece, but this could shut out many of the nation’s top sports betting brands and hinder the market’s revenue potential.
Massachusetts: It seemed Massachusetts would join Rhode Island and New Hampshire this year among the ranks of New England states with legal betting, but legislation fell short again in 2020. Republican Gov. Charlie Baker and the Democratic-controlled legislature are both on board, but there are still key details that have not been resolved.
Among those is the legalization of betting on college sports, which has been opposed by the state’s Division I universities. Additionally, Massachusetts casinos may also try to limit operators to themselves. Support remains for legal wagering, but until these key issues are resolved, it could be another lost year for legal betting.
Ohio: Ohio was another state that entered 2020 with seemingly strong odds for legal sports betting. A bill passed the House in May, but was never taken up by the Senate, which also failed to advance a sports betting bill of its own.
Elected officials are again supportive of legalization efforts, but key questions such as how many licenses will be available and which body will regulate potential sportsbooks need to be answered. What is known is that statewide mobile wagering will be legal in neighboring Michigan, Indiana, Pennsylvania and West Virginia once the 2021 session begins.
Missouri: Three sports betting bills have already been filed for the 2021 session, coming off a 2020 session when multiple proposals were also introduced. Sports betting hopes were dashed when the COVID-19 pandemic curtailed this year’s legislative session but baring another unforeseen development, it appears legalization will be another topic of conversation in the statehouse.
As with all other states, officials will still have to agree on key issues such as tax rates. But with Republicans in the GOP-dominated legislature already onboard, it appears there’s a good chance some sort of retail and mobile betting options will be approved in Missouri next year.
Arizona: Though statewide mobile betting may not be imminent, Arizona could be another state with legal wagering as early as 2021. The state’s Native American casino operators and elected officials have floated a tribal-only path to legalization in recent years and indications are another legislative proposal is in the works.
A retail-only market would mean less revenue for operators and state coffers, but it could be the easiest path to any legal betting options in Arizona. A successful brick-and-mortar market could spark interest in online options down the road in a state with a growing population and a franchise in all four major professional U.S. sports leagues.
Texas: Arguably the longest odds of any state in this group, Texas has shown signs that legal sports betting could be a possibility. Casino companies such as Las Vegas Sands have already hired lobbyists ahead of the 2021 session to push for the state’s first commercial casinos and there could be more interest than ever in Austin as Texas faces a budget shortfall of its own.
While sports betting faces steep political headwinds in a state without many existing gaming options, it will remain an intriguing possibility in the nation’s second-most populated state.


Legalized Sports Gambling Passes $10 Billion, Likely Just Tip Of The Iceberg.
Sports betting in New Jersey has proved to be a success, with more than $3.5 billion bet since the . [+] Supreme Court ended the ban on sports wagering. (Photo by DOMINICK REUTER / AFP/Getty Images)
Legalized sports gambling is growing slowly in the United States since the Supreme Court’s landmark lifting the federal ban on sports.
The legal sports gambling handle passed the $10 billion mark in July, according to the American Gaming Association (AGA). That represents significant growth since the Professional and Amateur Sports Protection Act (PASPA) was struck down in May of 2018.
This represents less than seven percent of the minimum estimation of $150 billion that is bet illegally in the United States, but these numbers will grow quite a bit in 2019 and future years as more states take the step to give their residents the chance to bet on sports.
In addition to Nevada, New Jersey, Pennsylvania, Mississippi, West Virginia, Delaware, Rhode Island, New York, Arkansas and New Mexico (tribal only) have legalized sports gambling.
Legalized gambling in Iowa became a reality in August, and Indiana will come on board in September.
Nevada is still the dominant force when it comes to legalized sports gambling, with New Jersey a strong second. More than $5.3 billion has been bet legally on sports since the fall of PASPA in Nevada, while the AGA reports that $3.5 billion has been bet in New Jersey since that time.
One of the primary reasons the volume has been so high in New Jersey is that it allows participants to register on mobile platforms and bet through the internet. More than 85 percent of New Jersey’s handle is bet online, while other states only offer retail gambling that require gamblers to go to a facility and physically place their bets.
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That’s the situation in New York, and while that state has a vast potential for gambling revenue, it is estimated that just 10-15 percent of its market is being reached. That is not likely to change until the Empire State offers mobile gambling opportunities.
California, Texas and Florida also represent huge potential sports gambling markets, but those states have not passed any legislation to this point. Florida may be one of the last states to come on board, because that state legislature is one of eight states that has not even considered the subject to this point.
Illegal sports gambling is not likely to go away any time in the foreseeable future. The ease of making a bet with a bookie is a big advantage, since that avenue is based largely on credit.
In most cases, those betting with an outside bookie don’t have to pay their losses until they reach an agreed upon level � $500 or $1,000 is common.
That’s clearly a convenience for the bettor, but if the bookie suddenly left town or went out of business, the bettor would have little recourse if there are profits to be paid out.
Illegal bookies have also regularly taken advantage of online tools to track their clients’ bets, and that has put an end to all disputes and claims that a bet was recorded incorrectly.
The sports gambling market has the potential to grow dramatically as more states consider legalization. One of the aspects that could increase the sports gambling market is in-game betting. This allows the bettor to see changing odds as a game progresses, and the opportunity to make a bet after kickoff in a football game or the first pitch in a baseball game.
For example, if the Chicago Bears build a 21-point lead on the Green Bay Packers early in the third quarter of their Week 1 NFL game, a gambler who is willing to take a chance on the Packers registering a comeback and winning the game could get a huge payoff for such a successful long-shot bet.
That type of bet was almost never offered in the past by traditional bookmakers who would stop taking bets as soon as games kicked off.
The Supreme Court struck down the ban on sports gambling, and have started to take advantage of this potential windfall. Nevada remains at the top of the mountain but New Jersey has shown that a huge market is available as long as states are willing to apply modern methods to the practice and make it easier for potential sports bettors to wager their money.
I have been covering the NFL for more than 30 years, and my writing has appeared in ESPN Magazine, Playboy, Bleacher Report, CBS Sports, Pro Football Weekly, and several.
I have been covering the NFL for more than 30 years, and my writing has appeared in ESPN Magazine, Playboy, Bleacher Report, CBS Sports, Pro Football Weekly, and several others. I have written six NFL-related books, including "Who's Better, Who's Best in the NFL." My writing has been recognized for multiple awards by the Pro Football Writers of America.




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