BtoBet: US is the land of opportunity as market set to triple by 2026
The US regulated market is on target to reach “$24.3bn by 2026”, making it the largest gaming market in the world, according to a new report published by igaming and sportsbook platform provider BtoBet.
In 2021, according to the study, the US sports betting and gaming markets generated $7.7bn in combined gross revenue, as more states opened up to a regulated framework.
In the “United States Betting Focus” report, BtoBet shines a light on the growth of the post-PASPA market since 2018 and the ways in which it has become “one of the most appealing and fastest growing markets on a global level”.
The report draws particular attention to the bumpy road to legalising sports betting in California and Florida – two states which have been subject to ongoing debate between commercial sports betting operators and tribal organisations.
It reads: “A lot is expected from the state of California once it gets legalised. And this could happen in the shorter rather than the longer term as two measures that would legalise different forms of sports betting are scheduled to appear on the November ballot.
“A recent report published by market data and intelligence company H2 Gambling Capital estimates that by 2025 California will amount to 13.3% of the total regulated sports betting gross win.
“In the case of Florida, the situation is somewhat complicated. Whilst sports betting was temporarily approved and made legal, it is now awaiting another launch due to a legal issue. Lawmakers in Florida had initially approved sports betting in 2021. However, lawsuits in court have delayed the official beginning of betting in the state.
“Just three weeks after being approved, and accepting bets briefly, a judge ruled that an agreement between the state and the Seminole Tribe was illegal. The Seminole Tribe and Hard Rock Sportsbook had launched online sports betting in November, but the app was shut down due to the ongoing legal battle.”
Data suggests that should the Sunshine State introduce sports betting legislation, the market will account for 4.9% of regulated gross win.
Read the full report HERE.
Source: SBC News
