The Supreme Court’s decision to strike off PASPA in 2018 changed the iGaming landscape in the US forever. Under the PASPA Act of 1992, only Nevada could provide fully-fledged sports betting services.
Post-PASPA, more than 30 states now permit sports betting in-person, online or both. What’s more, at least six states allow online casino gambling: Pennsylvania
In states where both sports betting and online casinos are legal, the local governments collect hundreds of millions of dollars in tax income. What’s more, the total annual revenue surpasses a billion dollars, money used to enhance infrastructure, education, healthcare and create jobs.To paint a clear picture of how iGaming has been impacting the US, let’s take a look at the figures generated by states where nearly all forms of online gambling are legal. Michigan Delaware, and West Virginia legalized online gambling much earlier than Michigan. Yet, neither of these states is yet to hit $1 billion in the iGaming industry.Michigan achieved that feat last year after generating $1.3 billion in revenues and $3.7 billion in the betting handle. The Great lakes State authorized mobile betting in December 2019.However, the first sportsbook in the state opened its doors in March 2020. Of course, this was during the onset of COVID-19, meaning MI didn’t really generate money from the industry in 2020.After pandemic-related lockdowns derailed Michigan’s iGaming sector, the state legalized online gambling in January 2021. In the next 12 months, bettors in the state wagered so much money that the state collected nearly $300 million in tax income.Tax revenues from online gambling operators in Michigan total 19%. However, the money is shared between the state and the city of Detroit, where three major casinos in the state are located. Nevada Nevada has been competing for the neck to neck with New Jersey since 2018. Last year, the two states had multiple months with more than $1 billion in revenues from gambling businesses.Nevada hit the $1 billion mark for 10 months in a row, culminating in total revenue of $13.45 billion in 2021. For clarity, this was […]