Official betting is a growing industry. In recent years, the NFL has forged partnerships with betting operators to infuse its broadcasts with gambling content. In doing so, the NFL hopes to generate $270 million in revenue this year. A number of media companies have jumped on board, from ESPN to Fox. In addition to the NFL’s own sportsbook, these media companies have created sets in Las Vegas and partnered with major casinos.
Some of the earliest states to legalize sports betting were Nevada and New Jersey. By contrast, Arizona took five months from enactment to launch. In the first month, the state had seven apps and two sportsbooks. Other states waited longer to open sports betting. By the year 2024, nearly 70 percent of states are expected to offer legal sports betting.
In Nevada, sports betting is legalized and must be conducted at a land-based casino. The state’s casinos are among the biggest taxpayers. New Hampshire, on the other hand, offers sports betting through a state-run venture. The state ran an open bidding process to find an online sportsbook provider. DraftKings emerged as the sole sports betting provider in New Hampshire.
Several other states are paving the way for sports betting. In Virginia, voters passed legislation legalizing the industry in November 2017. After the passage of PASPA, Oregon retained a sports betting product – Sports Action. The presence of Sports Action helped lottery officials justify their lack of a sports betting law. Currently, the state has no land-based sports betting, but it expects to build one in the near future.