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Sports Betting: The Trending Topic in Sports in 2019

Published by on August 28, 2019

According to a piece published in the online edition of USA Today, odds and sports betting are the two hot trending topics in sports for the year 2019. This situation was a little different a year ago. Back then, the sporting world prioritized discussions on sports betting but markets odds had not grabbed the attention of most sports fans. Since then, the Judiciary has changed the lay of the land, and the odds offered by American sportsbooks are a hot topic now.

The Re-Emergence of Sports Gambling

Other interesting discussion areas that the publication pointed out are NCAAB, Fantasy Sports, and Boxing. Sports betting is a new entrant in the league of trending topics. Its fortunes changed after the historic Supreme Court decision of May 2019 that took away from the states, the authority to restrict sports gambling.

The decision did not make sports gambling legal in the US in the real sense of the word. However, it gave states the authority to come up with laws and regulations that permit the activity, and policies that define the market and that guide industry players.

Already, New Jersey, West Virginia, and Pennsylvania have laws and regulations that legalize the activity. In addition, states such as Massachusetts and New York already have processes in motion that will bring in a fresh set of regulations to make betting legal. Another forty or so states are also moving towards legalizing gambling.

These developments, notwithstanding, questions still arise as to what happens after regulations have been set; does this mean anyone can launch a sports betting site at will?

The Way Forward?

Well, the answer is both yes and no. Yes, because technically, the laws that have been enacted in the few states that have done so do not expressly give a nod. However, they also do not restrict the possibility of such a scenario entirely. And, no, because the states may want to get to the free market situation gradually. Meaning, States may want to grant licenses only to a few gambling houses, race tracks and casinos at first. Progress can only come after a review of the gains made during this experimental period.

Sports betting is a multibillion-dollar industry. The happenings in this space are likely to impact other allied segments of the market. Already the FinTech sector is roped in wholly with the blockchain and specific services such as anonymous cryptocurrency transaction solutions emerging as the leading products punters are lining up to buy.

It will be interesting to watch how everything plays out to shape the future of online gambling post SCD.

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