Online betting allows gamblers to wager on sporting events without leaving the comfort of their home. It is convenient, accessible, and efficient, and has become increasingly popular with the advent of television. In 1996, Intertops became the first sportsbook to launch in the US, and it was soon followed by a slew of other websites. Today, 21 U.S. states and Washington, DC have legalized online sports betting, with some states and territories still in the process of launching.
While most states have laws that prevent sports betting, New York has recently legalized it. It is expected that sports betting will open in the state by the end of 2021, which would be a 210 percent increase from the year before. While the state’s sports betting industry was hampered by the closure of retail locations for five months because of COVID-19, lawmakers approved a $212 billion deal that includes a plan for online sports betting similar to the vision of the former governor. In the bill, the Super Bowl will be the first game to launch online sports betting in New York, which is another early benchmark for the state’s legalization.
New Jersey is one of the few states where sports betting has become legal. Its sportsbooks have made a tremendous start in 2021, bringing in a combined $3.57 million in gross revenue through January. In March, the state’s Governor declared his support for online sports betting, a move that has sparked controversy in Washington, D.C., due to the single-source model used by the state lottery. It is widely believed to lead to poorer pricing for consumers.