Michigan and Virginia look set to prepare the way for several other states to follow in 2021 as they prepare to both launch online sportsbooks. January 2021 is set to be a big month for both states, although the two states will both see it a little differently. Michigan is perhaps a little behind schedule for legal online sports wagering’s launch, while Virginia is way ahead of schedule after the state’s lawmakers legalized the practice only a very short 8 months ago.
After slightly more than 2-and-a-half years of 888Sport presence in its first U.S. legal sports betting market in the state of New Jersey, the company will spread its wings into the Indiana, Colorado and Iowa during the 2021 calendar year.
Michigan is another step closer to legal online sports betting becoming a reality with state’s gaming regulatory oversight authority, the Michigan Gaming Control Board (MGCB) granting 15 online sports betting licenses.
The nascent sports betting industry in Indiana hit new record highs in November 2020 as total betting handle broke through the $250 million barrier for the first time and staying well clear of neighboring states like Michigan and Illinois. That all may change in January 2021 when Michigan potentially throws open its doors to the beginning of the online sports wagering industry there, but for now the Hoosier State is making hay while the sun shines.
Since beginning operations on May 1 2020, legal sports betting in Colorado has been registering record months. Now, for a 6th consecutive month. sports betting handle in the Mile-High State hit an all-time high and finally, the state’s gaming tax revenues took a boost as well.
More than 2.5 years have now passed since the U.S. Supreme Court handed back the control of sports betting to the states to decide for themselves whether to take up the practice or not. Many have, with varying degrees of success via different models. Some states have decided to go down the path of land-based sportsbooks, others like Tennessee have adopted an online sportsbook-only model, while the most successful sports wagering states to date like Pennsylvania, New Jersey, West Virginia, Indiana, Colorado and Iowa have adopted a mix of online and bricks-and-mortar sports wagering locations.
Lawmakers in Virginia heard recently that they should prepare for not only the launch of sports betting by early 2021 but perhaps even legal online casinos introduced to the Old Dominion State within another 12 months.
Sports bettors in Virginia are getting closer to knowing which operators will soon be the first legal online sportsbooks in the state. The Virginia Lottery is currently reviewing 25 online sportsbook applicants from a range of sports betting companies interested in gaining a foothold in the state’s nascent sports betting market.