This event was expected not only in New Jersey but also around the world, as the fact that it would bring with it many changes was obvious, and now we can assess their consequences. Gaming operators have been waiting for it for years.
In 2018, the Supreme Court made a move in favor of opening the sports betting market in the United States. Its decision, taken following a case opposing New Jersey to the federal authorities, which lasted six years, allows states that wish to legalize sports betting on their territory.
This breakthrough has been achieved for years and the fact is that it will have a very positive impact on many other countries, not only New Jersey casinos, because as you know, America often sets the agenda for global trends.
What Changes Has This Brought?
No sooner said than done: just a few days after the ruling, the first bets were taken in this state which has numerous casinos, notably in the seaside town of Atlantic City.
The biggest internet gaming players, the biggest American casinos, and even powerful British operators have rushed into this market with colossal potential, one of the last in the world to resist opening up.
Even the fast food chain Buffalo Wild Wings or the television group CBS were showing interest in the changes and were trying to find their possible profit. According to the American Gaming Association, the pie was around 150 billion dollars.
What About Other States?
Other states followed. Delaware, which had authorizations for certain games, extended its system, and Mississippi legalized the practice, but only in physical places, and not on the Internet. Nonetheless, some other states could definitely follow soon, so it’s not just gambling in New Jersey that is changing.
“We should expect rapid expansion, like what happened to casinos in the 1990s,” thinks John Brennan, sector analyst for DGS Media and USBets. “But it is the northeast of the country that should be the most active, followed by the Midwest.”
The states of the South and West, more conservative, are more reluctant. Especially since 95% of the market is illegal today. The main challenge will be to switch punters towards a legal offer.
What Are the Advantages of These Changes?
These changes will have a positive impact primarily on the players because such issues always relate to the large financial growth of the entire sector. Of course, this is good, at least because people will finally be able to make sports betting completely legal, and their entertainment will now be completely legal.
However, a large number of advantages will follow, so the sphere will have the opportunity to develop rapidly and increase the level of comfort for players. The development of the industry will also help fans support their favorite sports teams by placing bets during various championships and sports competitions.
As you know, sports betting is a huge part of professional sports, and sometimes, the career of a talented novice athlete can go uphill thanks to such fan support.
What Are the Consequences?
Of course, the advantage of pirate bookmakers, established in the United States for decades and who have largely taken the Internet turn (with sites operating from Panama, Costa Rica, or Bermuda), is to provide credit, which legal operators cannot do.
The rest of the market has so far been concentrated in Nevada, where the practice is legal in casinos.
The Launch of the American Football Season
Certain international players had already been present in the United States for several years, even if they did not have the right to operate there. The major maneuvers began when the opening was made official.
The Irish group Paddy Power (Betfair) got its hands on FanDuel, which operated “fantasy leagues,” before entering into a partnership with the hotel-casino group Boyd Gaming. The British William Hill has signed agreements with eleven casinos in Mississippi and one in West Virginia.
The Current Situation
In New Jersey, the first returns are rather positive. In this State, it is not so much the betting revenues and the resulting taxes that promise to be interesting, but rather the tourist impact. “The hotel-casinos were full in the summer but, from September onwards, were deserted.
They are betting that they will attract a new category of tourists, particularly during big sporting weekends,” adds the analyst. Without forgetting that an online offer is being developed there. With authorized sites having to block users who are not located in New Jersey, some are starting to cross state borders to place bets!
Nowadays, in 2024, a complete ban on the activities of casinos and bookmakers is only in Utah and Hawaii. And in two states, gambling entertainment, on the contrary, is fully approved — in Nevada and Louisiana. There are absolutely no restrictions on the range of games provided and the locations of the casino.
In the rest of the states, the industry operates within small geographical areas, and Las Vegas, Atlantic City, and New Jersey are prime examples. So, as it is already clear, there is one conclusion – this case of New Jersey was not just so long-awaited but had a really huge impact that will change the industry in the coming years.
