Erick Valenciano
Twelve more states are expected to legalize sports gambling in 2021, according to an analysis conducted by Morgan Stanley. The investment banking company predicts sports betting will be legalized in 35 of 50 states by the end of the year.
This analysis signals a massive win for sports fans who have championed legal sports betting for decades. As sports betting becomes more mainstream, legislators are recognizing the massive revenue streams that come with legalization.
The analysis conducted by Thomas Allen, Michael M. DeLalio and Ed Young note that Arizona, Connecticut, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Missouri, Ohio, Oklahoma, South Dakota and Texas expect to legalize sports betting this year.
Twenty-three states have already legalized sports betting, and 20 of them operate sports betting services. Based on “confirmed discussions,” Morgan Stanley predicts six more states will receive authorization to launch by the end of 2021.
Maryland, North Carolina, Ohio, South Dakota and Washington are expected to join Virginia and Michigan, which launched full online sports betting in January. New York is also expected to legalize online sports betting by the end of the year.
The swift legalizations come at a time when many states face budget deficits due to the COVID-19 pandemic. Legalizing sports gambling is a way many believe will help combat those deficits.
There’s no telling how much revenue sports betting will bring each state, but it’s encouraging to see states like Texas, which fought against legalization in the past, embrace the idea of authorizing it.
What was once a pipe dream is quickly becoming a reality for sports fans. In the not-so-distant future, sports betting will be legal in more than half of the United States.
What about FL? I read something that we could potentially see something by 2021 but it’s up in the air. Seminole Indian Tribe has a monopoly on casinos and if sports betting were to be approved it would likely be on their terms. Also heard Disney might play some role in this?
When in FL I use Bovada but they tax you on deposits, encourage you to use bitcoin, and it takes weeks to cash out/receive a check in the mail. Is there any hope?
California, Texas and Florida are the big three when it comes to sports betting. They will all top New Jersey and Nevada.
Well my bookie still has good job security.
I’m guessing my Mormon state of Idaho is going to be the laggard 🙁
Since I live in Minneapolis, I can pretty much count on Minnesota being the last state to get on board. The tribes are the most powerful lobby in the state because they own all the casinos. Until then…. I`ll just keep going offshore with Bovada.