A lot has been written since the global health pandemic hit about the ability of mature online sports betting states like New Jersey, Pennsylvania, West Virginia others to withstand the ravages to their respective state revenue collections and state budgets.
Unfortunately, not every state that has legalized sports betting is also allowing online betting, which is shame seeing many retail land-based sportsbooks have had the doors closed during the enforced lockdowns. Meanwhile, online sports betting has been booming.
As other states have looked to jump onboard the online sports betting revenue gravy train, let’s take a closer look at 4 states that have either recently adopted online sports betting, or legalized for online sports betting in the last few months.
Colorado Online Sports Betting
Online sports betting has been legal in the Mile-High State of Colorado since May 1. The Colorado model is quickly becoming the poster child for U.S. online sports betting with modern and progressive laws that allow for adaptation as technology improves and flexibility to alter as business requirements necessitate.
Word has got out around the world that Colorado is open for innovative business. Many of the biggest names in global online sports betting, such as Bet365 have quickly jumped into the Colorado sports wagering betting pool attracted by the pioneering online betting spirit.
Moreover, the environment is rich for partnerships between professional sports franchises as evidenced by BetMGM and FanDuel striking up agreements with Colorado’s biggest professional sporting franchise, NFL’s Denver Broncos.
Virginia Online Sports Betting
Sports betting is officially legal in Virginia after adopting a similar sports betting model to nearby Tennessee. What makes these two sports betting states unique, is that they skipped the process of legalizing casinos first as many states have done. Washington DC has also taken the same route.
Speaking of DC, the proximity of Virginia to the 4 major professional sports franchise in the DC area (the Capitals, Nationals, Wizards and former Redskins – will they be called the ‘Warriors’?) should be key to online sports betting success for Virginia. Sports betting is expected to start before the end of the 2020 calendar year.
What’s more, the state is looking to lure the pro sports franchises to relocate to Virginia with a proviso in state law to allow sports betting in stadiums and other sports venues, such as the state’s two NASCAR tracks.
Michigan Online Sports Betting
Online sports wagering is expected to begin in Michigan in late 2020 or early 2021, after legal bricks-and-mortar sportsbooks already became operational in March 2020.
With a significant number of local professional and college teams and a metropolis in the shape of Detroit, Michigan appears set to leap-frog a number of other states in terms of revenue raising through sports betting.
Online sports wagering is expected to be boosted perhaps more than any other state by the large number of big college teams in the state. The University of Michigan and Michigan State both attract huge crowds to a number of sports, and with betting online on college sports legal without having to drive to a casino, Michigan appears set to boom.
Illinois Online Sports Betting
Home to America’s third-largest city, Chicago, Illinois sports wagering is set to be a mega-earner for the state government. In fact, Illinois was quick to lift restrictions on needing to sign-up for online betting at a bricks-and-mortar casino as the pandemic closed doors of land-based operations.
Creating these special provisions to make signing up for an online sportsbook account easier is evidence that Illinois sports betting looks set to succeed much in the same way New Jersey has.