Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – June 2021
It has now been more than three years since the repeal of PASPA, with the New Jersey and Delaware markets reaching their three-year anniversary since launching sports betting operations. It has also been three years of ups and down with the sports calendar and with sports betting revenue. Revenue for the most part continues to climb, although it is difficult to find a stabilized year of data over the last twelve months due to the pandemic. While is may be some time as the border wars continue, it will be critical to understand the full growth potential for this expansion opportunity in the gaming industry.
The industry continues to face the challenges of SARS-Cov-2, as seen most recently during the Memorial Tournament on the PGA Tour. Jon Rahm, who at the time was up by six strokes, had to withdraw from the tournament because of a positive test. While the PGA let him finish the round and notify him in a bizarre 18th hole revelation, it remind the sports community that this pandemic is far from over, especially on a global scale. Sportsbooks took the change in the marketing in different ways with some counting it as a withdrawal and returning wagers to players, while other took it as a win for Rahm who had a dominant lead. This did lead to several conversation throughout the industry on how to deal with these and other incidents in the future, as well as the implications on responsible gaming and potential effects into the future.View Full Article