5 New Online Sports Betting Markets
Launched in 2018
Several states have launched legal online sports betting markets in the last year.
While California, New York, and Pennsylvania were among the first to do so, a
number of other states have joined them in the past two years. While the industry
has yet to hit its stride, online sports betting has already created new revenue
streams for these states and others online casino singapore and malaysia free credit. These states are now working to expand their
markets and create lucrative new digital wagering opportunities.
New York state is the largest state to launch online betting. The state’s laws require
online sportsbooks to be based in licensed casinos, which has helped make the state
one of the most operator-friendly setups in the country. There are several retail
betting locations in the state and a few more are set to open in the near future.
Online sports betting is legal in Illinois. There are dozens of online sportsbooks, and
residents can place wagers on a variety of sporting events. But there are some
limitations to online sports betting in Illinois. The state doesn’t allow betting on in-
state collegiate teams and non-sports events, and residents must register with their
sportsbooks in person. These requirements are set to sunset in 2022.
Online betting is legal in Tennessee, which operates its own online market. The
state’s sports betting industry has already generated $1 million in revenue in its first
month. Despite a few restrictions, the market is expected to be lucrative for the
state. One limitation is a requirement that sportsbooks hold at least a 10% stake in
the business. This could mean lower odds for Tennessee bettors. However,
Tennessee is one of the few states that hasn’t capped the number of sportsbooks in
The state’s lottery-run sports betting market is small and has lagging revenue
numbers compared to its neighbors. However, it has the potential to be the next
state to launch a digital sports betting market. There are three retail sportsbooks
and several digital sports betting options in neighboring states. These include the
BetAmerica, TwinSpires, and NYRA Bets apps.
Michigan, which has a population of 7 million and ranks eighth in the nation in
dollars bet all-time, is expected to launch in-person wagering at MGM Grand Detroit
on March 11, 2020. Michigan also ranks regularly among the top 10 in handle. It also
has several teams in the major leagues, including the NFL, NBA, and MLB.
Illinois has several teams in the major leagues. Residents can bet on these teams
and a few other sporting events. However, there are some limitations to online
betting in Illinois. Unlike other states, residents cannot bet on in-state colleges or
non-sports events. In addition, the state does not allow eSports betting.
Virginia has several retail sportsbooks, but the state’s online betting market has not
yet launched. The state has a small population and is located close to Maryland and
Washington D.C. However, with investment from outside gaming interests, the state
could become a target for a digital sports betting market in the near future.