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Five Years Post-PASPA: The Spread of Legal Sports Betting in the USA
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Five years ago, the Professional and Amateur Sports Protection Act (PASPA) was repealed by the Supreme Court, kicking off one of the fastest periods of gambling legalization ever seen in the USA.
The repeal of PASPA, which had prevented all but a handful of states from regulating sports betting, started a revolution in real money betting that has forever changed the US gambling industry.
Five years later, it’s time to look back at how the market has developed and the legal, economic, and social effects of this monumental change.
The Context: The Downfall of PASPA
PASPA was a federal law that came into effect in 1992. It included all states except Nevada, Oregon, Montana, and Delaware, which were excluded because their laws already had sports betting provisions.
PASPA outlawed sports betting in all other states, effectively banning it nationwide. This didn’t mean that sports betting wasn’t happening; it was just an underground, offshore activity.
PASPA remained in force until May 2018, when the Supreme Court ruled it unconstitutional. This was thanks almost entirely to the efforts of New Jersey, under the leadership of Governor Chris Christie, who brought the legal challenge after trying to legalize online sports betting in 2011 and 2014. New Jersey argued that part of PASPA violated the anti-commandeering doctrine (the tenth amendment), which, in overly simple terms, prevents the federal government from coercing states to adopt or enforce federal laws.
The District Court first heard New Jersey’s case, then the Third Circuit, with both ruling against them. However, upon appeal, the case was heard by the Supreme Court (SCOTUS) on May 14th, 2018. SCOTUS agreed that PASPA violated the anti-commandeering principle, rescinding the entire act and stating that PASPA was meant to work as a whole, meaning that if part of it was not legally viable, the whole act must be struck down.
Legal Outlook: 38 States Legal, 12 To Go
With PASPA gone, each state now had the right to decide whether to legalize sports betting, with a majority opting to. As of November 2023, 38 states have said yes, passing new laws that allow retail sports betting. Online sports betting is also available in 26.
There are 12 states left to legalize. Three of them (South Carolina, Alabama, and California) face strong opposition, and the remaining nine are looking to introduce bills in the 2024/2025 legislative sessions. North Carolina and Minnesota are tipped to be the next to join the fray, and Oklahoma introduced a new proposal two months ago.
The legal landscape remains complex, with different rules, regulators, and taxation regimes in each state. On top of this, in certain locations, the presence of tribal gaming compacts has conflicted with commercial interests (the ongoing case of Florida sports betting and tribal opposition in California serve as perfect examples).
Growth of Online Casinos – Not Going As Planned
While there was no guarantee, many industry experts and commentators hoped that the legalization of sports betting would soon be followed by online casino regulation. However, thus far, only six states have legalized online casinos: New Jersey, Delaware, Pennsylvania, Michigan, West Virginia, and Connecticut, the latest to join the ranks, passing HB 6451 in 2021. Since then, there’s been no further movement for online casinos.
Players outside the mentioned states may only use land-based casinos or free social gaming sites where available. Sweepstakes casinos are also available across the country, Idaho and Washington aside. As a legitimate gaming option, sweepstakes are taking the US by storm, but just like with real online casinos, players should use a review site to find the best options.
As sweepstakes casinos don’t require a license in the USA, expert advice such as Casino Cabbie’s Wow Vegas Online Casino Review highlights any security issues and the benefits and pitfalls of each site as well before players sign up, making them an invaluable resource.
Economics: More Than $220 Billion Spent On Sports Betting Since 2018
One of the biggest drivers of sports betting legalization is the promise of potential tax revenue. The US sports betting industry is enormous, and since 2018, more than $220 billion has been spent on wagers, contributing over $3 billion in state taxes. The revenue earned by states has been instrumental in funding local projects and new initiatives, as well as responsible gambling research and support.
More in-depth and up-to-date research focusing on the exact economic contribution of sports betting is thin on the ground, and the last comprehensive study by Oxford Economics was published in 2017. At the time, it detailed that the entire sports betting industry created over 216,671 jobs.
Due to the lack of current data, we’re left to turn to figures charting the impact of the entire gambling industry, which includes casinos and sports betting. According to statistics from the American Gaming Association in 2022, US gambling is a powerhouse industry, creating, in total, 1.8 million US jobs, with $104.2 billion in wages (these figures include the entire supply chain).
There can be no argument that over the last five years, US sports betting has been a substantial economic contributor, helping state governments recover from COVID-19, creating jobs, and stimulating economic growth.
Social: 77% of American Adults Support Legalization in their State
Legally and economically, things have changed rapidly in the States since the repeal of PASPA, but what about the social impacts?
Research shows that 85% of Americans think the removal of PASPA was correct, with 77% now supporting sports betting legalization in their state. Moreover, the number of Americans open to placing sports bets has grown by 24 million since 2019. With many enjoying the newly legal betting options available to them, public attitudes towards gambling as a whole have seemingly softened.
With many states also benefiting from increased government budgets brought through sports betting tax revenue, it’s important to recognize the benefits this has made to social provisions. Many states have used the influx to contribute more money to education funds and other social causes, like reducing homelessness.
A proportion of the money is also used to fund state problem gambling assistance, with many running state-based hotlines and counseling services. Nonetheless, in many cases, this funding is not enough to offset the increased rates of gambling harms caused by legalization.
Future Outlook: Challenges and Concerns
Looking forward, the US online sports betting industry has a projected compound annual growth rate (CAGR) of 17.33% for 2023-2027, meaning there’s much more to come. However, this rapid growth will lead to some challenges.
Offshore gambling has been a considerable issue for the legal sports betting market. In 2022, The American Gaming Association estimated that Americans wagered $63.8 billion with illegal bookies, costing $3.8 billion in lost gaming revenue and $700 million in state taxes.
While offshore gambling is reducing, the latest data shows that 77% of online sports bets are now placed through regulated operators, compared to just 44% in 2019. However, things are not all rosy, and 48% of those who bet offshore believe they are placing legal wagers.
Gambling addiction also poses a considerable threat to the sustainability of the entire US gambling industry, with some states recently reporting problem gambling rates over 6%, which is three times the national average (to contextualize this figure better, the UK has a problem gambling rate of 0.2%). High rates of problem gambling twinned with rapid growth potentially represent a ticking time bomb that could rock the entire US industry.
It’s undoubtedly been an incredible five years for US bettors and sportsbooks; as a newer gambling market, the US must now look to more mature gambling jurisdictions to see what player protection methods work best and implement them sooner rather than later.
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1SPIN4WIN LAUNCHES BUFFALO’S WEALTH: A NEW SLOT SET IN THE AMERICAN SOUTHWEST
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1spin4win, a fast-growing provider of online slots, is excited to announce the release of its latest slot game, Buffalo’s Wealth. This new game transports players to the American Southwest, where they can meet its inhabitants and embark on a quest for gold in the thrilling bonus spins feature.
This theme, already popular among players worldwide, adds a unique touch to the studio’s portfolio while maintaining the classic, minimalist design 1spin4win is known for. This straightforward design lets players fully engage with the gameplay, free from any visual noise.
The essence of the American Southwest is captured right from the start with high-paying symbols like the mighty buffalo’s head, red horse, black leopard, and bald eagle. The Grand Canyon Scatter and lower-paying wooden letters further enrich the experience.
Players spin wood-carved reels set against the backdrop of the expansive Grand Canyon, aiming for winning combinations across 243 ways. When 3, 4, or 5 Scatter symbols appear, the Bonus Spins game is triggered, awarding 7, 10, or 15 free spins. During the Bonus round, players can collect 3 or more Golden Nugget symbols, each adding to the total winnings.
“Our goal with Buffalo’s Wealth was to create a game that immerses players in the rich culture and breathtaking landscapes of the American Southwest,” said Olga Bogdanova, Art Director at 1spin4win. “By focusing on authentic design and engaging gameplay, we’ve crafted an experience that captures the region’s spirit and offers players exciting and rewarding adventures. We believe Buffalo’s Wealth will become a favorite among our players and a standout title in our collection.”
About 1spin4win
Established in May 2021, 1spin4win has rapidly grown popular among players worldwide. Renowned for its monthly releases, the studio excels in creating classic slot games that are not only engaging but also built on robust and fair mathematical models, ensuring an optimal iGaming experience.
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Safe Use Of Cryptocurrency For E-gambling
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The e-sports are at a boom across the world. While people worldwide are getting to e-sports, many want to bet on these. E-sports betting is possible with cryptocurrencies as well! But how? Is it safe to use cryptocurrency for e-sports gambling? How can you avoid crypto wallet and transaction scams? Let’s explore the world of e-betting with cryptocurrency and help you with all your doubts.
Is cryptocurrency safe to use for e-betting?
You can refer to coingambling.info as a platform where you can find brands that use cryptocurrency for e-betting. Here are the reasons:
- Security: Blockchain forms the foundation of cryptocurrency, providing top-notch transaction security. You can’t mess with crypto bets at all — blockchain’s see-through nature and spread-out structure ensure that! The transparent decentralized blockchain setup has a huge impact on keeping cryptocurrency wagers tamper-proof.
- Privacy: Cryptocurrency gives users more privacy than regular money transfers and is quicker, too. When you bet online, crypto deposits and withdrawals beat old-school bank transfers hands down, they’re way faster.
- Faster transactions: Crypto transfers beat old-school bank methods hands down when it comes to speed. Players can deposit and cash out from betting sites much quicker using digital currencies.
Cryptocurrency e-betting is a secure option due to its use of blockchain technology. You can place bets, move money in and out, and enjoy e-betting thrills without much worry. However, using crypto for e-betting does have some drawbacks too. Some of them are:
- Volatility of the cryptocurrency: Crypto prices often fluctuate. Your bet’s value can shift fast, affecting how much you might win or lose.
- Security risks: While cryptocurrency itself is safe, if a secure wallet or exchange is not used, you might get scammed.
- Rules and regulations: Regions around the globe have different rules and regulations for cryptocurrencies. You have to ensure that you choose the legal cryptocurrency wallets and exchanges in your region.
While these cons can be daunting, there is a solution to everything. You can enjoy the excitement of online betting without stressing over crypto price swings and safety issues. Let’s explore how.
How Can You Safeguard Yourself Against Cryptocurrency Wallet And Exchange Scams?
Even though cryptocurrency is safe to use for e-betting, you still can land into a scam. Here’s how you can safeguard yourself from cryptocurrency wallet and exchange scams:
- Stick to reliable crypto platforms for trading and storage. Avoid sketchy wallets that might turn out to be cons. Exodus, Coinbase, and CoPay rank among the top trusted options for buying, selling, and keeping your digital coins safe. These reputable services have a proven track record in handling cryptocurrency transactions.
- Use 2FA methods, such as a code sent to your phone or an authenticator app, to safeguard your wallet. This adds an extra layer of protection above the passwords.
- Keep your private keys private! Don’t share them with the wallet or exchange’s customer support. If someone asks you for the private key, it is potentially a scam.
- Do not click on suspicious links or attachments sent via mail. They can be phishing attacks that the scammers use to scam you.
- Keep updating your software. Software updates also roll out security updates, which can provide extra protection for your account.
- There’s nothing like ‘Get Rick Quick’ in e-betting. If something is sounding too good, it’s too good to be true. Don’t fall for such traps.
Cryptocurrency betting reshapes the betting world, and fraudsters push boundaries to break in. You must maximize your wagers and dodge the cons. The responsibility falls on you to make smart bets and protect yourself from tricksters. Scammers show they’ll do anything to cheat the system. It’s crucial to stay alert and get the most from your bets while avoiding scams.
How To Protect Yourself From The Volatility Of Cryptocurrencies?
Cryptocurrencies are highly volatile! You can protect yourself from the volatility by diversifying your crypto portfolio. Also, every e-sports betting platform might not be accepting each cryptocurrency. Some might be accepting Bitcoin and Ether, while others might be expecting Litecoin and XRP. Having a diversified portfolio of cryptocurrency can help you have a chance to bet on multiple platforms. Additionally, you can choose the cryptocurrency which will return the best results for you.
What are the types of e-sports available for betting?
People know Counter-Strike: Global Offensive as an e-sport game. However, many other e-sport games exist. Call of Duty, Apex Legends, and StarCraft are examples of popular e-sports. You can place bets on these games too. These games offer chances to gamble as traditional sports do. Fans of competitive gaming now bet on e-sports. Bettors can pick their favorite genre due to the wide range of games available. E-sports fans can bet on many game types, including first-person shooters and strategy games. Pro E-sports gambling resembles traditional gambling. Parents need to protect their children from potential risks. The growth of e-sports and e-betting will boost cryptocurrency usage for online betting transactions.
The post Safe Use Of Cryptocurrency For E-gambling appeared first on European Gaming Industry News.
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ThrillTech Partners with Coolbet to Provide Jackpot Solution, Enhancing Player Experience
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ThrillTech is pleased to announce a strategic partnership with Coolbet, a leading online gaming company, to integrate ThrillTech’s innovative jackpot solution into Coolbet’s platform. This collaboration aims to elevate the player experience and drive engagement on the Coolbet platform.
According to ThrillTech’s CTO, Peter Mares, “We are thrilled to support an esteemed brand like Coolbet on their journey towards expansion and enhanced player offerings. Our cutting-edge jackpot solution is designed to captivate players and deliver a thrilling gaming experience.”
Coolbet’s President, Endre Nesset, expressed his enthusiasm for the new partnership, stating, “We are excited to introduce this new product to our brand, enabling our players to enjoy bespoke jackpots designed to elevate their gaming experience. This collaboration with ThrillTech aligns with our commitment to offering top-notch gaming entertainment to our valued customers.”
The integration of ThrillTech’s jackpot solution into Coolbet’s platform signifies a step forward in providing an enriched and personalized gaming experience for players. Stay tuned for more updates on the exciting developments resulting from this partnership.
The post ThrillTech Partners with Coolbet to Provide Jackpot Solution, Enhancing Player Experience appeared first on European Gaming Industry News.
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