Legal sports betting is a growing market for internet casinos and betting sites. In 2018, 23.2 million Americans reported plans to place wagers worth $4.3 billion on the Super Bowl. Of these, 7.6 million were planning to place bets online. By 2023, the U.S. sports betting market is expected to generate over $19 billion. As more states legalize their sports betting markets, competition between online casinos and betting sites is expected to increase.
The US is becoming more liberal when it comes to sports betting. New York, for example, has already legalized horse-racing online. Individual states are now considering allowing other types of online gambling as well. In 2011, the Department of Justice issued a legal opinion that said that the Wire Act applies only to sports betting, not to other types of online gaming. In the future, more states are likely to legalize other forms of online gambling, including poker and online betting on horse races.
In New York, sports betting had a great start in 2021. The state’s sportsbooks raked in more than $3.57 million in gross revenue through January. After a public vote, the state’s Governor declared support for online sports betting, and endorsed a single-source model run by the state lottery. The single-source model is heavily criticized in Washington D.C. because it can result in worse prices for consumers.