The State of Official Betting

Uncategorized Oct 15, 2023

Official betting is gambling on sports, teams or individual players that is regulated and sanctioned by a state’s gaming regulatory body. This ensures that bettors are treated fairly and that funds are held in safe, secure accounts. It also guarantees that a bettors’ rights are protected, including access to help services and tools to self-exclude for a period of time.

The Supreme Court’s ruling in 2018 overturned a federal ban on sports betting, allowing states to regulate the activity within their borders. This opened the door to a number of new wagering markets, but many state governments approached the market differently.

Indiana jumped on the bandwagon quickly after the court’s decision and became one of the top-grossing handle states. In 2023, the state had more than 30 regulated sportsbooks (including 15 retail and 14 online).

In Nevada, the gambling capital of the United States, sports wagering was available at local casinos for decades. The state’s complicated registration process has deterred some bettors, though a law passed in 2023 should simplify the process. It could allow for a full mobile-only launch by the end of 2024.

Connecticut is another state that has made a quick start to its regulated sports betting industry. It has a mix of tribal gaming and major free-standing casinos, like Foxwoods. DraftKings and FanDuel have partnered with the Mohegan Tribe to offer sports betting online and at retail locations. Futures bets are common in the Nutmeg State and can be placed on a variety of events, from league Most Valuable Player awards to Super Bowl outcomes.