USA Moving Towards Regulated and Legalized Online Betting

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When it comes to online gambling the United States has always had a slow and somewhat confusing set of rules and regulations surrounding the legality of having a bet or wager at an online casino but last year turned into an exciting one especially after Pennsylvania legislators finally (yes finally!) signed a bill into their law that legalises as well as regulates online gambling within its territory.

This made Pennsylvania the fourth US state to authorise and regulate iGaming, with the other States being New Jersey, Delaware and Nevada.

This May (2018) saw the Supreme Court striking a ban on sports gambling which effectively meant that the way was cleared for states to legalise sport betting by getting rid of a 1992 federal law that had stopped the majority of states from allowing sports betting.

This was a real victory for New Jersey and the other states who have wanted to allow sports gambling as a way to attract greater tourism besides a source of tax revenue.

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Online casino revenue is increasing rapidly and well established UK casino brands like PlayUK and William Hill are positioning themselves for what could potentially be the world’s biggest market.

What was said by the Supreme Court was that the federal law actually violated constitutional principles which limited the federal government from controlling state policy, which was unconstitutional and forced states to prohibit sports betting under their own laws.

Straight after the ruling the stock price for Caesars Entertainment rose by 6%, with DraftKings announcing that it intends to enter the sports betting market.

This decision actually clears for all existing states to make thier own choices about whether they legalise sports betting or not and it also gets rid of the monopoly that Nevada had on the subject and the 1992 federal statute that had protected it.

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Many are thrilled to see the arbitrary ban on sports betting lifted and none more than New Jersey Gov. Phil Murphy who openly celebrated the decision which began with a lawsuit that was brought by former Gov. Chris Christie.

Phil Murphy is quoted as saying ‘This ruling will finally allow for authorized facilities in New Jersy to take the same bets that are legal in other states in our country.’

Bringing what is a multibillion dollar industry out of the shadows and into the light means that now the integrity of the industry can be guaranteed and players can expect better protection, so its a win-win situation for all concerned.

 

 

Disclaimer: This content does not necessarily represent the views of IWB.

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