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Pixel Perfex and Eccentrix Studios just announced Earth Atlantis Abyss, a shoot 'em u[...]
Usually, March means the world gets to welcome Spring. However, March 2019 is different because the vocabulary increased quite substantially to include words and phrases such as “full or point spreads,” “handles” and “sharps,” because more and more Americans can now place bets openly during the March Madness that is the collegiate men’s basketball competition, the NCAA.
For insiders, the evolutionary journey of gambling in the US is an interesting one. A while back, federal regulators thought it was revolutionary and scary, all at the same time, and that these sentiments affected both the fans and the sports teams, and in the same scary manner.
Now that most Americans can gamble legally, it is substantially less scary. That, however, does not mean the officials have gone easy on their pedals.
Most states that have enacted gambling laws still consider tournament gambling illegal. But, there are indications that this will soon change, and many a betting site cannot wait for the transition.
According to a survey conducted by an American market research consultancy, about 50 million American residents will place bets worth about US$ 8.5 billion during the March Madness! Some 10% of these punters will do so for the first time in sportsbooks or online via legal mobile apps.
Another equally large chunk, possible tens of millions will be wagered in office pools. However, these remain illegal! In the years past, betting was largely illegal.
Last year, for instance, the American Gaming Association approximated the betting revenue from the March Madness at US$ 10 billion, 97% of which was illegal since a vast majority of these bets were placed outside Nevada.
With the existing state legislations, the rules vary from state to state. New Jersey, for instance, is all set and both online sites and apps as well as sportsbooks are ready to take bets.
Pennsylvania, on the other hand, has a few pieces of the puzzle missing. While their legislation allows brick-and-mortar establishments to offer gambling products, online betting is yet to get the full nod.
As such, Pennsylvania’s share of the gambling loot is only about US$ 31.5 million from the six betting establishments running. Other sites are opening up and that is an indication of how favorable legislation will help sports betting grow.
Besides, the US$ 700,000 share it is getting from the revenue mentioned above is an incentive to have even more comprehensive legislation that brings all markets on board.
Amid the growth witnessed in the sports betting industry in the US since mid-2018, the moralists have not been all quiet. They think that the pro-gambling legislations will spike addiction in the long run.
Overall, both the trends and legislation are in favor of gamblers. However, the office-pools may stay on the dark side of the law for a little longer since regulating them is not as black and white.
***In cooperation with premiumbookmakers.com***
Jonas “O.J” Ek
The Gaming Ground
Twitter: @TheGamingGround
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Tags: Casino games, Casino video games, Gambling, Online Casino games, Poker, Slot machines
