Sports betting offers a unique form of online gaming, where bettors predict sports results and wager on an outcome rather than playing against a dealer or other bettors. Whereas bingo, casino games and poker are based on events within the casino, sports betting is tied to reallife events. Punters can find bets on all sorts of sports, including eSports, with individual wagers ranging from single games to a full season’s performance by either players, teams, or entire leagues. Estimating the full value of the international sports betting market is difficult due to a wide variety of regulations across the world, but many countries offer reputable reports. The European Gaming and Betting Association reported that sports betting continued to be the most popular online gambling activity in Europe in 2021, responsible for 46% of the total gaming market, with 55% of the revenues coming on in-play wagers. A relatively new player in the global online sports betting market is the U.S., which has long been a sleeping giant. Since the U.S. Supreme Court ruled that the federal ban on sports betting was unconstitutional in May 2018, operators both domestically and internationally began competing for a piece of the American pie as if it were a gold rush. By the end of 2022, 31 out of the 50 states legally allowed sports wagering: Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Nevada, New Hampshire, New Jersey, New York, Maryland, Michigan, Mississippi, Montana, Nebraska, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Virginia, Washington D.C., Washington, West Virginia and Wyoming. Three other states offer some sports betting: North Carolina (at tribal casinos only) and New Mexico and Wisconsin (specific tribes allow it under Class III gaming compact). Massachusetts also legalized sports betting in 2022 and was scheduled to launch in early 2023. Sports betting in the U.S. is expected to grow by a CAGR of 13.67% during 2022-2027, according to IMARC Group, which doesn’t sound farfetched when you consider in its Sports Betting Industry Overview 60 Sponsored by Casino City’s iGaming Pocket Directory SPORTS BETTING
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