The online Sports betting industry in the United States is expected to generate a grand total of $7 to $8 billion by 2025 according to reports. This is an amazing stat considering that the country along with the rest of the world is going through the COVID-19 pandemic and the sports world stopped for over 3 months, yet the industry has positioned itself to be huge in the United States.
Nonetheless laws were passed to make online sports betting legal in the United States and more and more states are getting in on the action. Sites like Fan Duel, BetMGM, and Draftkings are now becoming popular destinations for online bettors.
Nevada is the state that has generated the most revenue for sports betting in the United States followed by New Jersey, in total in 2019 online sports betting earned a revenue of $900 million. Here is everything you need to know about the sports betting industry in the United States.
Where is online betting legal?
Online betting is legal in 25 states in some capacity including New Jersey, Pennsylvania, West Virginia, Indiana, Iowa, New Hampshire, Nevada, Delaware, Rhode Island, and Oregon.
Which are the most popular sites for Sports Betting?
DraftKings and Fan Duel are the biggest and most popular sites for online sports betting in the market. One of the main reasons these sites have jumped ahead of the rest have been because of their Fantasy Sports options.
What sport is the most popular to bet on?
The NFL by far is the biggest sport when it comes to online sports betting, but climbing the ladder and fast is the NBA, which had huge booms in betting during the NBA Bubble last season. The average bet for the finals were as large as $2,000 for the Miami Heat who were a +4000 underdog.
One thing is for certain, there is no stopping the growth of the online sports betting industry. Keep up with all the sports betting action right here on Bolavip!