Online Sports Betting Launches in New York
If you’re a sports fan, you know that online sports betting is the way to go. In the United States, nearly 23 million people have said they’ll bet $4.3 billion on the Super Bowl, and 7.6 million have said they will place an online wager. While the sports betting industry is small in the U.S., Illinois is expected to become a major player in the U.S. sports betting market. Despite stiff tax laws and limited online skin counts, Illinois has been a long way from launching.
In New York, sports betting is off to a good start, generating $3.57 million in gross revenue through January. The Governor also endorsed online sports betting, and supported a single-source model run by the state lottery. The single-source model has been heavily criticized in Washington D.C., as it can lead to higher prices for consumers. However, in New York, the sportsbook industry is thriving despite the challenges.
While retail sports betting is live and available for Louisiana residents, online sports betting is expected to start in January 2022. The next sportsbook to offer a pre-launch offer in Louisiana is BetMGM. The promotion went live earlier this week and gives LA residents a chance to sign up and begin playing online. The state will have legalized online sports betting in June 2021, but the state is still waiting for online gambling to become a reality.