Philadelphia, PA - There is a legalization movement sweeping across the United States. Increasing numbers of states are starting to relax their regulations around sports betting.
A number of states, such as Pennsylvania, relaxed their gambling and sports betting regulations ahead of the curve before other states even thought about reconsidering their laws. These forward-thinking states are now experiencing record highs in terms of the wagers made, and these records are perhaps inspiring their neighbors to follow suit and take steps to legalize sports betting.
The Record-Breaking Buccesses of 2020
In 2020, Pennsylvania crushed its prior record, with $3.5 billion in wagers placed in 2020 through both retail and online sportsbooks. New Jersey also smashed its previous records for sports betting, with a high of $6,016,968,399 wagered on sports in 2020.
2020 was the year in which we all – sports stars included – spent a lot of time at home, so you might find it surprising that it was also a year in which a number of records for wagers were broken. The Covid-19 pandemic led to most sports matches and tournaments being postponed or canceled altogether and it was not until relatively recently that some leagues were able to implement measures that ensured that athletes could compete and play matches safely while minimizing the possibility of Covid-19 spread.
However, the sports betting sector is very industrious and innovative, and many people turned from following traditional sports like football, basketball, and baseball, to new sports, such as esports leagues and competitions. Esports has grown massively as a spectator sport and it is likely that many of its current fans will remain, devoted followers, even after the pandemic ends and more traditional sports leagues resume their play.
Taking into account the impact of the pandemic and the cancellation of so many big sporting events, it is truly amazing that any sports betting records at all were broken this year. The fact that many records were broken during this difficult period is a sign that the sports betting industry is extremely resilient – something that other states have undoubtedly taken note of.
The Rise of Online Sports betting
One reason why sports betting did so well during 2020 was because of the robustness of the online sports betting industry in Pennsylvania. When brick-and-mortar bookmakers' shops were closed and casinos locked their doors, many gamblers and punters would not have had a place to make their bets if the online sports betting industry had not already been there. Sports betting mobile apps and desktop platforms allowed punters to make all of the bets they wanted from the comfort of their homes.
The online sports betting industry has grown considerably over the course of the last 10 years and the market has become very competitive. Many online sports betting platforms are now trying to stand out from their competitors by offering seasonal promotions, registration bonuses, and favorable odds. Whenever there is a lot of competition in a particular market, consumers are the ones who benefit, because companies need to work extra hard to attract attention to themselves.
However, it can sometimes prove difficult for gamblers to find the sports betting platforms that have the best bonuses, odds, and range of different sports. World Sports Network helps punters find the top sites and platforms on a state-by-state basis so that you can quickly and easily find the best online sports betting platform that suits your requirements.
The Benefits of Legalization for States
Increasingly, states are struggling to survive under the economic and political pressures caused by the pandemic, mass unemployment, and a broken healthcare system. Many of these states are desperate for a new source of revenue that can be taxed. The dazzling records set by Pennsylvania and New Jersey have attracted the attention of other states that are now beginning to take the first steps towards legalizing sports betting.
There are a number of states close to both Pennsylvania and New Jersey that are now pushing forward with legalizing sports betting. New York currently only allows for sports betting in a retail setting but are taking steps to legalize online sports betting. Virginia and North Carolina’s legalization of online sports betting is still pending, and Kentucky, Ohio, Connecticut, Massachusetts, and Vermont are all potentially going to push for online sports betting legalization for 2021 – 2022. The progress is slow, but if states such as Pennsylvania and New Jersey keep breaking records, you can be sure that states around the country will continue to push for legalization.