More states to allow sports bettingAugust 27, 2019 John Isaac
While gambling in most parts of the world is becoming prevalent, this is not the case in the US. The betting companies and online casinos in the USA are expected to comply with many laws regulations for them to operate. The United States Federal law has legalized gambling in the USA. Some of the states, however, have not made the activity legal.
Few states in the US have been able to make sport’s gambling legal. These states include; Pennsylvania, Rhodes Island, New Mexico, West Virginia, Mississippi, Delaware and New Jersey. These states have been able to generate revenue from gambling to boost development projects in their areas. The authorization of sports betting is still pending in 9 states and expected to start in other states. The states that have legalized gambling have been in the position to generate revenue out of it. The income generated from sports betting by these states motivates other states, and hence, they are working to legalize gambling in their areas of jurisdiction. When these 40 states allow sports betting, it is projected that by 2024, the US will be worth $7.9 billion in revenue from sports betting. The legalization of gambling in the states will take a short time for other states and relatively a longer time for others as per the trends in the gambling industry in the US.
A shift to online gambling
Traditional gambling in the USA is becoming a thing of the past. The gamblers can now access the sports betting sites and casinos through their phones in some of the states that have legalized sports betting. Nevada and New Jersey allow both online betting and in-person betting. States like West Virginia and Pennsylvania allow in-person betting but have not allowed online betting.
The legalized betting ways in the states are expected to change in the future and shift to online gambling. Through online betting, gamblers can place bets at the comfort of their homes without necessarily visiting a casino. The gambler will have to make a deposit that will reflect in the online account, and from there they will be free to wager the amount in their games of choice. There are developments by the betting companies to utilize the new technology in operating the betting sites and casinos. These companies make online advertisements through their websites and social media, and this makes users come across the links to their sites when surfing through the internet.
Use of cashless methods of payment in gambling
Unlike the use of cash in the past when gambling in the US, today gamblers make use of cashless methods such as PayPal, Visa, and MasterCard. 86% of individuals in the US have shifted their attention from the use of cash to the use of these mobile payments as per the cashless payment’s statistics. These cashless methods connect the account of the individual, and hence, they will be free to transfer money from their mobile wallets to the site that they want to bet. The financial transactions processing is by a piece of digital information from the parties involved.
Money that is debited from one account and credited to another account with a bit of reflection information on the same provided. The US has found the cashless transaction in gambling to be efficient and secure. Through cashless transactions, individuals can transfer large sums of money without necessarily moving around with cash in large bags. The security of the funds is enhanced since it is hard to lose the money by theft, unlike money, which can be lost when armed criminals come in.
Future of gambling
The gambling industry in the US is growing to all the other states in the future, and this will translate to more revenue from gambling in the future of the USA.