Summary
In 2018 PASPA was declared unconstitutional and this opened the door for legalizing sports betting.
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MARHARYTA MARKO/iStock via Getty Images In 2018 a law that was created in 1992 (professional and amateur sports protection act, and prohibited sports betting (PASPA) (excl. some states)), was found to be unconstitutional. This opened the doors for sports betting to be legalized on a state-by-state basis. In this article, I will go over the US online gambling industry. At first, we will look at the industry history and outlook, and then we will look closer to some of the key players. Industry history and outlook
In the US, 2 laws made it next to impossible to run a casino and sports betting company. The first one is mentioned above and is the professional amateur sports protection act (PASPA) and the second is the unlawful internet gambling enforcement act (UIGEA). The UIGEA states that it is not allowed to knowingly accept payments in connection with the participation of another person in a bet or wager that is made through the internet and that is unlawful under state or federal law. In 2018, the first law was deemed to be unconstitutional . The court also stated that, although Congress could regulate sports betting, it does not have to and that would give states the option to legalize it themselves.
Since PASPA has been found unconstitutional, multiple states have legalized online betting and online gambling (although this was technically already allowed). At the moment of writing 19 states have legalized either online poker, online casino and/or online sports betting. The expectation is that the number of states that have legalized some form of online gambling will increase in the near future (such as New York in 2022). Even when online gambling becomes legal in a state, a casino still needs to obtain the required permission and/or license. This is a great […]
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