With the growth of sports betting in recent years, legislation regulating the industry has increased across the country. Most of these bills include various tax rates and models for how many sportsbooks can be open in a state, including online and in-person sportsbooks. While the laws are far from universal, the majority of states allow sports wagering and some are considering it for their citizens.
While sports betting is not currently legal in Texas, the state is likely to follow other states in the South and eventually become legal in this area. While it may seem farfetched, Texas may become one of the most lucrative markets in the country if the law is passed. The state is home to many major league teams, including Texas A&M, the sixth largest stadium in the world, and the Texas Longhorns, the ninth largest.
There are a few states where sports betting is legal: Massachusetts, Oregon, and Pennsylvania. Oregon is one of four states grandfathered by PASPA, and therefore did not need new legislation to legalize it. However, the state’s law only applies to pro sports, not college sports. For the rest of the country, sports betting is illegal in a few states, including California and Texas. Several other states have also banned sports betting in some form.
While New Jersey is the most developed state when it comes to sports betting legislation, other states are following suit. In New Jersey, sports betting is legal online and in mobile formats. The law requires sportsbooks to have at least two licenses. In addition to New Jersey, sports betting is legal in Delaware. In March 2018, West Virginia passed a sports betting law. Mississippi also passed a sports betting law. As the market for sports betting continues to grow, more states may begin introducing legal sports operations.
In addition to New Jersey, Nevada and South Dakota legalize sports betting. Wyoming is the next state to legalize sports betting. The US Department of Interior must still approve sports betting before the legislation can take effect. Until then, however, the laws governing sports betting are in flux. It is important to know that states have varying legal requirements.
While polls indicate that sports betting is popular in most states, anti-gambling sentiment in the statehouse is still evident. There have been five bills introduced and failed in the last two years. The next bill is expected to be introduced in 2022. Mobile sports betting is likely to become legal in New Jersey next year, but the status of in-person sports betting remains uncertain.
The US Supreme Court recently struck down the federal ban on single-game wagering, allowing sports betting in almost two-thirds of the states. Legalized sports betting is available on online and mobile apps, and it could be legal in all US states by 2022.