American Sports Betting Markets Experience a Surge of Gambling and Tech Companies

After the legalization of sports gambling across the US, the gambling and technological firms want to take over the market. And they want to make deals in the American market that may profit them in billions.

In May, 2018, the American Supreme court took the decision to overrule the 1992 gambling legislation. This law limited betting on single sports events. But Nevada opened up the power for individual states to legalize sports. And this move took the US sports betting market on a joyride.

Around the world, companies want to invest here. Even casinos like sbobet opened up sportsbooks across the country. Also, professional sports teams made deals with gambling companies for sponsorship and exclusivity. Tech companies want to roll out sports betting apps because it is the next big thing.

Sports betting market has an estimate of $3-$5 billion potential. And within the next five years it is going to touch new heights Did you know that the global sports market is already worth an estimated $40 billion and keeps expanding?

The US sports betting scene keeps growing, and March Madness showed it. For the first time ever, bettors waged on the NCAA division I Men’s Basketball tournament from states outside of Nevada. Other states like Delaware, New Jersey, Mississippi, West Virginia, Pennsylvania, and Rhode Island got permit for the sports.

The estimate of Online Sports betting market is a whooping $4.5 billion. Across the three week tournament more than $4.5 billion will have been wagered across 150 million brackets by over 40 million people.

The surprise is it is the smartphones from where most of the activity take place. Specially, the iphone and the android phones that have apps for betting online.

There are many gambling companies like the William Hill, Ladbrokes, bet365, Bwin, Paddy Power, Betfair, Unibet who have mobile apps for bettors and gamblers.

NHL recently announced its deal with MGM, and it also announced a 3 year deal of 90 million with Caesars Entertainment.

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