Has Sports Betting Exploded in the U.S. in 2022?
By Space Coast Daily // September 29, 2022
Sports have been a huge part of human lives since the beginning part of time, as it is an amazing way to have fun and compete while staying fit. Sports have stayed solid and evolved over the years, bringing up more ideas and innovations revolving around them.
Technological improvements have also benefited the sports industry, making available safer and more efficient ways to engage in sports. As a result, sports betting has also surfaced and is growing rapidly.
People can now carry out Sports Betting on reliable betting sites, on whatever sports they prefer, while utilizing the best incentives. Around the world, record numbers have been seen in the increase of gamblers and bettors and the US is no exception. This article highlights if sports betting has exploded in the US in 2022.
Sports betting has boomed in the USA
Sports betting revenues totaled $2.64 billion for the first five months of 2022, according to the AGA, a Washington-based organization that represents the U.S. gaming industry.
This represents a remarkable increase of 73.5% from the same time last year. The expansion of internet sports betting in New York has contributed to such increases, among other factors. Gaming revenue in March, April, and May totaled more than $5 billion each, making those three months the three best in the history of the business.
States eager to enter the gambling industry sprinted to the market when the federal ban on sports betting in the US was lifted in 2018. And ever since, a steady stream of new states have opened their doors to companies offering gaming services.
Following a US Supreme Court decision that made it possible for all 50 states to offer sports betting where a number of states have decided to take advantage of it, Americans have wagered more than $125 billion at places where it is legally possible to do so. Customers were at risk of being harmed by unlicensed bookmakers, many of whom operated as components of organized crime, which was a key justification for the movement to legalize sports betting.
Bettors enjoy benefits
Consumers are well protected by state legislation, and watchdog authorities are on the lookout for infractions and are prepared to act. The legalization of gambling in 11 new states has contributed significantly to the rise in sports betting in recent years.
As a result, some of the biggest sportsbooks in the nation committed more than $1 billion in marketing and advertising. Sports betting is now legalized in more than 30 states in the US, with more coming up soon.
Overall, the number of bettors and gamblers in the US increased by over 30 percent in the US in recent times. The most popular sports in the US have registered the most wagers placed on them, which indicates that sports betting is greatly influenced by viewership.
Sports leagues like the NFL, NBA, and so on, have had more bets placed on them in the US, than in other sports. The future of sports betting is looking very bright, as betting is being legalized in more states in the US. With the provision of more betting sites, favorable odds, and fair bonuses, betting is set to increase drastically in years to come.