Online betting in the USA has been one of the most interesting and discussed in the world’s gambling market. All because the US Supreme Court has decided to overturn PASPA which is the biggest legal update to affect the gaming and betting industry.
PASPA (Professional and Amateur Sports Protection Act) was adopted in 1992. According to the Act, betting was officially allowed only within four States of America: in Nevada, partly in Oregon, Delaware and Montana. The long-term ban on sports betting turned to a rapid collapse of the U.S. market, the lack of state revenue from betting, the increase in the number of illegal bets and fraudulent transactions in gambling websites.
Players from USA had to place bets through international services, thus replenishing coffers of other countries. According to the American Gambling Association (AGA), the illegal sports bets in the US amounted to more than $150 billion a year.
It was New Jersey that proactively started fighting against the ban on betting. Since 2011, New Jersey State Senator Raymond Lesniak has repeatedly raised the issue of legalization of sports betting in the United States, as it can significantly improve the country's economy through taxes and save thousands of jobs. In 2014, the local authorities passed a law allowing residents to wager at racetracks and casinos. In this case, New Jersey was supported by other States including New York, Connecticut, Pennsylvania, West Virginia and Mississippi.
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15 May 2018, the Supreme Court approved the decision to strike down PASPA. During the voting, 6 judicial votes were given in favour of the legalization of sports betting throughout America. Thanks to the abolition of PASPA, the States now are able to regulate the betting sphere in their territories and prevent illegal bets on foreign sites. Nevertheless, the U.S. authorities still need to consider many nuances to fully regulate the industry.
Of course, the online betting market in the U.S. cannot yet be as open as, for example, the EU one. But the Court's decision to legalize online betting in the USA is an important step towards the development of the industry. The history of legal online sports betting in the EU shows great success, which is associated with the competent regulation of the industry by the authorities. It also shows the way in which America needs to establish a gambling legislation framework to benefit all parties: players, operators and the state.
Legal sports betting in the USA is a new gambling world that has a huge potential in the gambling market. Betting in some States, such as New Jersey, New York and Pennsylvania, are very promising areas. According to AGA, in the next few years, the sports betting market will be bringing the state budget $26 billion annually. At the same time, the number of jobs in the gambling industry will increase by 150 thousand.
According to AGA, the legalized betting in America is the result of teamwork aimed at making legal and safe bets on sports and developing a transparent gambling market. Therefore, as for online betting, the main task of the United States is to create all conditions for the transparent operation of gambling companies in the States, to protect the rights of players and to ensure fully legal regulation of legal sports betting sites.