Report: The US May Become the Largest Sports Betting Market in the World
Through education, technology, and responsible gambling, the US sports betting market may become the largest market in the world, suggests a new report released by BettingUSA.com.
A New Report Shares the Progress of the Sports Wagering Industry since PASPA’s Repeal
A new report, released earlier this week by the online and mobile sports betting comparison website, BettingUSA.com, reveals how the legal sports wagering industry in the United States can maximize its growth. To comprise the report, the online and mobile sports betting comparison website has contacted multiple gambling regulators. Furthermore, it has also asked sports wagering operators to help determine what progress was made since the repeal of PASPA three years ago.
As a result, the experts believe that the US may become the biggest legal sports betting market in the world. This may be achieved with the help of education, technology, and responsible gambling. Furthermore, the report shares the experience of the experts and reveals what challenges they came across since PASPA’s repeal.
The US Has the Potential to Become the Largest Sports Betting Market
In a statement, the founder of BettingUSA.com, Mike Murphy, said that the report was created to determine where the legal sports betting industry is, following PASPA’s repeal. Acknowledging that so far the industry has grown rapidly, he stressed that hiccups are not uncommon when it comes to education, safe gambling, technology, and regulation.
Additionally, Murphy said that the experts believe that those challenges may be defeated, which may result in the US becoming the largest legal sports wagering market in the world. Last but not least, he said that the report provides insight and shapes the direction which the industry may take in the next few years.
The Sports Betting Expansion May Face Some Hurdles
Douglas Harbach, a member of the Pennsylvania Gaming Control Board, is one of the experts who participated in the study. He acknowledged that the US sports betting market is significant with high demand. Furthermore, Harbach said that the sports betting market must be looked at with the same seriousness as casino gaming. Last but not least, he acknowledged that to ensure the integrity of the system, sportsbooks must be tightly regulated, similarly to casinos.
PointsBet’s director of communications, Patrick Eichner, is another expert that participated in the report. He acknowledged that education is undoubtedly a big obstacle in every state where sports wagering is launched. Furthermore, Eichner added that the launches are “state-by-state” and that “sports betting is not a national opportunity“. Last but not least, similarly to Harbach, Eichner said that the sports betting expansion may face some hiccups along the way.
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