Sports betting is legal in some states. For example, California, Massachusetts, and New Jersey have all legalized sports betting. If it isn’t legal in your state, consider these options. There are risks and rewards associated with both options. For instance, betting on the favorite will get you more money, but you will also be taking a higher risk.
Legalization of sports betting in the U.S.
After New Jersey’s victory in a Supreme Court case in May, various state legislatures have been weighing sports betting legislation. Congress, too, is considering legislation. In September 2018, the House Judiciary Committee held a formal hearing on the issue. The number of dual-track bills has increased since early 2017.
Two states have legalized in-person sports betting. California and Nevada have both passed laws to legalize the practice. However, New Mexico has not passed legislation allowing sports betting. Currently, Native American tribes can only offer in-person sports betting at their casinos. This is because the tribes interpreted their gaming compact with the state as permitting them to offer any form of Class III gaming. As a result, New Mexico is a “grey state” in the sports betting world.
Legalization of sports betting in New Jersey
Sports betting in New Jersey became legal in 2018, following a Supreme Court ruling overturning the federal ban. The state has become one of the leading markets for sports betting, with more than $10 billion in betting handle projected by 2021. The state currently has eleven retail sportsbooks and 20 online sportsbooks.
The state’s legalization of sports betting allows residents to place bets via the Internet, at land-based casinos, and on mobile devices. There is no age restriction, and all sports wagers are considered legal.
Legalization of sports betting in California
Legalization of sports betting in California is a hotly debated issue. Tribal interests have secured signatures for legislation that would legalize retail sports betting in the state in 2021 and 2022. Another measure would legalize online sports betting. Both proposals require a two-thirds vote in the state legislature to pass. The Mercury News urges its readers to vote no on both measures.
The state of California is home to some of the most important professional sports teams in the world. It boasts five Major League Baseball teams, four National Basketball Association teams, three National Football League franchises, and several high profile college sports teams. In addition, sports betting in California would generate an estimated $500 million in tax revenue annually.
Legalization of sports betting in Massachusetts
With the passage of legislation to legalize sports betting in Massachusetts, the state is one step closer to opening up its sports betting market to the public. The bill would allow for up to 15 online sports betting licenses and five retail licenses for racetracks and casinos. It also creates a commission to look at additional licenses for smaller businesses. The bill would also allow for out-of-state college and university betting, as long as the team is playing in the playoffs. It would also impose a 20% tax on mobile bets, and 15% on retail bets.
The bill was passed on the final day of the legislative session. The committee extended the date of its review, but that didn’t prevent the legislation from passing. It was signed into law by Gov. Charlie Baker in early August. According to the Massachusetts Gaming Commission’s timeline, the first sportsbooks in Massachusetts should open in January 2023. Retail sportsbooks are expected to open first, and online sportsbooks will follow.