The US Supreme Court will hear the arguments to legalize sports gambling in the state of New Jersey on December 4. Analysts from the gambling industry in the United States expect online gambling to thrive in the country once New Jersey wins its sports betting case in the Supreme Court.
The Thoroughbred Horsemen's Association has appealed to rule the Professional and Amateur Sports Protection Act of 1992 (PASPA) unconstitutional. The case will test whether the 1992 federal law that outlawed sports betting in all states except for Nevada, Oregon, Montana, and Delaware is unconstitutional. The ruling is expected in mid-2018.
The director of the New Jersey Division of Gaming Enforcement (NJDGE), David Rebuck believes that a favourable ruling will impact the online gambling industry in the US and will soon open their gates to the online gambling industry, also welcoming online poker operators.
A new stream with great potential is expected to be the biggest motivator for states to marry sports betting and online gaming.
As of now, only Nevada, Delaware and New Jersey have legalized online gaming. New Jersey has reported revenues in excess of $250 million from online gambling this year while Delaware earned over $2 million in online gambling profits. Pennsylvania too had recently signed its expanded gaming bill and is set to join these three states sometime next year.
It is estimated that if all 50 states in the US open up to sports betting, up to $15.8 billion could be generated.
So far, over 80 nations have legalized online gambling. The global gambling market size is 35.97 billion USD in 2014 and is estimated to reach 66.59 billion USD by 2020, at a CAGR of 10.81%. Europe has the largest online gambling market in the world. In Asia Pacific region, the online gambling sector has not grown much.