The Supreme Court in 2018 ruled that states could now legalize sports betting. And with this ruling, we have seen a rapid increase in revenue from the sports betting industry in the United States. Three years now down the line, how are betting companies strategizing to conquer the growing sports betting market in the United States?
By October 2020, the betting industry revenue had hit the $3 billion mark in a single month – something that has never happened before. Additionally, this ruling has seen the general sports revenue shoot by 53.5 percent year-after-year to $237.5 million. New Jersey has seen its sports betting revenue by 31 percent – that’s $398.5 million in 2020 from $299.3 in 2019.
- With this in mind, let’s take a look at different sports betting companies and how they are expanding to conquer the growing United States market.
1. Golden Nugget Sports
The Michigan Gaming Control Board authorized Golden Nugget Sports to begin offering sportsbook and online casino services from January 22nd, 2021. Michigan residents will now be able to place their bets via goldennuggetcasino.com or their mobile apps, available in Android and iOS versions.
Besides, Golden Nugget Sports announced that it managed to secure one of the most coveted online sports licenses in Virginia and even given the go-ahead to begin operations in Virginia. This is a huge boost, as the company now boasts of up to 10 states, permitted by the legislation and regulatory approvals.
2. Wynnbet
Tennessee becomes the eighth state for Wynnbet, the online sports betting provider in its quest for expanding in the US market. The Director of the Sports Wagering Committee of the Tennessee Education lottery confirmed Wynbett’s legalization to start offering sports betting services in Tennessee as soon as the legislative process is complete.
Due to the rapid expansion of the US betting industry, Wynnbet is looking to expand its online betting services to many jurisdictions. Wynnbet recently agreed with Elite Casino Resorts, one of the best resort companies. With this partnership, Hawkeye State residents will now be able to access the services of Wynnbet.
3. 888 Sports
888 Sports has also been growing despite starting its operations in only three states – New Jersey, Nevada, and Delaware. The online gaming company announced in December 2020 that it would be setting foot into three more states – Lowa, Colorado, and Indiana by the start of 2021. With the three additional states, 888 sports will now be serving punters in six states. The new locations for the three new states are as follows:
- Colorado – Grande Casino, Cripple Creek
- Indiana – Harrah’s Hoosier Park, Anderson
- Iowa – Catfish Bend Casino, Burlington
Though 888 sports hasn’t made it official despite the Pennsylvania Gaming Control Board (PGCB) issuing a gaming manufacturer license to the online gaming company, Pennsylvania should follow suit.
4. Betway
Betway, one of the leading sports betting companies in the United Kingdom, is looking forward to conquering more states in the United States. The online sports betting company recently announced that it has agreed with the Digital Gaming Corporation to begin its operations in the US. Betway will begin its operations with the content company in 10 states for now.
The US sports betting revenue is forecasted to hit $2.5 billion and this is why you can see those sports betting companies are busy extending their services in various states. With the Supreme Court ruling in 2018, the sports betting industry has experienced massive growth, and it will be interesting to see how things shape up by the end of 2021.
