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States That Legalized Sports Gambling

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With sports gambling set to be legalized in Ohio, it could be a matter of time before fans can legally bet on A.J Green and the Bengals. The law would go into effect in June 2021, and allow betting sites such as Bet-MGM, PointsBet, DraftKings and FanDuel to legally operate in Ohio. The state of play: Sports betting is now legal and fully operational in 18 states, plus Washington, D.C. Another four states — Virginia, North Carolina, Tennessee and Washington — have passed bills legalizing it this year, but are not yet operational. States with legalized sports betting New Jersey - The first state to start things off changed everything in the sports betting game. Pennsylvania - Many sportsbooks have obtained a license to.

While the U.S. presidential election process had not yet produced a clear winner by Wednesday morning, it was a night of decisive victories for the tide of legal sports betting.

Parx poker room blog. Voters said yes to legalizing sports betting in all three states where the question was on the ballot: Louisiana, Maryland, and South Dakota (for the casino-friendly city of Deadwood). In Maryland, 66% of voters approved, and in South Dakota, 59% of voters approved. In Louisiana, where the vote was handled by parish, 55 of 64 parishes approved, including key cities like Baton Rouge and New Orleans.

That brings the grand total to 26 states (plus Washington, D.C.) that have either launched legal sports betting or passed the legislation and are waiting to launch. (Colorado, Nebraska, and Virginia voters also said yes to expanding casino gaming in their states.)

Sports bettors from Maryland could be placing legal sports bets soon, pending adoption of legislation to implement the recently passed sports betting referendum. Legislation to end the prohibition of sports betting has been proposed to Minnesota state lawmakers, but no legalization bills have been voted into law.

© Provided by Yahoo! Finance Graphic by David Foster/Yahoo Finance

But the newest three states don't just flip a switch now and turn on the gambling faucet. Lawmakers have to pass companion legislation to determine specific details like tax rates. In all three states, it will likely take until 2021 to fully pass and launch sports betting. (Legalizing mobile sports betting must happen separately; only a handful of the states that have legalized in-person sports betting have also legalized mobile sports betting.)

DraftKings and FanDuel, the fantasy sports companies now rapidly launching legal sportsbooks across the country, spent heavily on TV and radio advertising in the weeks leading up to Election Day in states where sports betting was on the ballot. In Louisiana, each company spent more than $250,000.

Since 2018, when the U.S. Supreme Court struck down the federal ban on sports betting, gaming companies have been in an arms race to launch sportsbooks in states that have legalized.

© Provided by Yahoo! Finance (L-R) Andre Carrier via ipad, Greg Lee, Governor Chris Sununu, Charlie McIntyre, executive director of the New Hampshire Lottery and Jen Aguiar, vice president of compliance for DraftKings during the DraftKings Sportsbook at The Brook ribbon cutting on October 23, 2020 in Seabrook, New Hampshire. (Photo by Scott Eisen/Getty Images for DraftKings)
States That Legalized Sports Gambling

And in the past year, a second arms race has unfolded: a battle to rack up betting sponsorships directly with pro sports franchises.

DraftKings has announced sports betting partnerships with the New England Patriots, New York Giants, and Philadelphia Eagles in the NFL, and with the MLB's Chicago Cubs. (DraftKings went public in April by merging with an already-public SPAC; its shares are up 110% since.) FanDuel has signed betting partnerships with the Denver Broncos and with the Memphis Grizzlies, the company's first NBA team betting deal. Meanwhile, the Tennessee Titans signed a betting deal with BetMGM.

'We're seeing record engagement levels,' DraftKings CEO Jason Robins said on Yahoo Finance in the first week of the 2020 NFL season. 'It's not just because we've entered new states—even in the existing states we were in at the start of last NFL season, like New Jersey and West Virginia, we've seen enormous year-over-year growth in those markets as well.'

As the tide of legalization continues, expect the frenzied race to sign team betting deals to accelerate. And that trend is sure to change the fabric of U.S. pro sports leagues over time.

Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers sports business. Follow him on Twitter at @readDanwrite.

*Updated: November 4, 2020*

If 2020 has taught us anything, it's that everything, and I mean everything, can change overnight. This theory also applies to the legalization of sports betting.

Ever since the repeal of PASPA in May 2018, individual states have been given the liberty to decide if sports betting should be legal. New Jersey set the pace, and one by one, states saw themselves introducing bills and passing laws to govern the activity. Needless to say, it's been a huge boon for the states.

As of today, over a US dozen states have legal sports betting, and it's expected that many more will follow.

As November elections creep up, here are three states that feature a legal sports betting question on their voting ballots.

Louisiana

States That Legalized Sports Gambling Laws

The Bayou State has discussed the idea of sports betting ever since 2018. But like the Houston Rockets, they can never get over the hump.

This year, a referendum is finally on the ballot that gives voters the opportunity to decide if sports betting is something they want. Voters will only be voting to approve or deny sports betting in their respective parishes.

The initiative is similar to the daily fantasy sports (DFS) vote in 2018. That year, 47 of the state's 64 parishes voted to approve DFS contests. Experts anticipate a similar (if not better) outcome for sports betting.

A 'yes' vote doesn't mean people can begin betting. The state legislature would still need to pass a bill enabling legalization and a taxation bill, both to be completed in 2021. Although sports betting isn't in the state's immediate future, it does look promising.

Chance of sports betting legalization: HIGH Harolds crown casino.

*Election results:Fifty-five of 64 parishes in Louisiana voted 'yes' on legalizing sports betting. Lawmakers will get to work on drafting a bill to govern and regulate the activity, with sports wagering most likely making its debut in 2021.

Maryland

Talk about a state coming so close, only to have everything crash and burn at the last minute. The professional sports equivalent of the Atlanta Falcons in Super Bowl LI — that's Maryland.

Back in March, Del. Nick Mosby led an eleventh-hour rally in Tom Brady-like fashion, which ended with the licensing language being stripped from S 4, a bill to legalize sports betting in Maryland. However, Mosby's concerns were valid. He and other members of the House Legislative Black Caucus felt the bill didn't do enough to benefit minority- and women-owned businesses.

But because of this, when election time rolls around, voters will simply be deciding on whether lawmakers should proceed with creating and passing a bill. If voters approve, lawmakers will get back to the drawing board and attempt to craft a new sports betting bill.

Sen. Craig Zucker, the architect behind S 4, indicated that should everything go according to plan, the proper authorities could determine how to conduct sports betting as early as January 2021.

Given the time lawmakers will have to sit down and iron out details, don't expect any more eleventh-hour roadblocks.

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Chance of sports betting legalization: HIGH

*Election results: Residents in Maryland approved the expansion of gaming by a 2-to-1 margin on Election Night. After 66% voted 'yes,' lawmakers will return to Annapolis and get to work constructing a new sports betting bill.

South Dakota

States That Legalized Sports Gambling

And in the past year, a second arms race has unfolded: a battle to rack up betting sponsorships directly with pro sports franchises.

DraftKings has announced sports betting partnerships with the New England Patriots, New York Giants, and Philadelphia Eagles in the NFL, and with the MLB's Chicago Cubs. (DraftKings went public in April by merging with an already-public SPAC; its shares are up 110% since.) FanDuel has signed betting partnerships with the Denver Broncos and with the Memphis Grizzlies, the company's first NBA team betting deal. Meanwhile, the Tennessee Titans signed a betting deal with BetMGM.

'We're seeing record engagement levels,' DraftKings CEO Jason Robins said on Yahoo Finance in the first week of the 2020 NFL season. 'It's not just because we've entered new states—even in the existing states we were in at the start of last NFL season, like New Jersey and West Virginia, we've seen enormous year-over-year growth in those markets as well.'

As the tide of legalization continues, expect the frenzied race to sign team betting deals to accelerate. And that trend is sure to change the fabric of U.S. pro sports leagues over time.

Daniel Roberts is an editor-at-large at Yahoo Finance and closely covers sports business. Follow him on Twitter at @readDanwrite.

*Updated: November 4, 2020*

If 2020 has taught us anything, it's that everything, and I mean everything, can change overnight. This theory also applies to the legalization of sports betting.

Ever since the repeal of PASPA in May 2018, individual states have been given the liberty to decide if sports betting should be legal. New Jersey set the pace, and one by one, states saw themselves introducing bills and passing laws to govern the activity. Needless to say, it's been a huge boon for the states.

As of today, over a US dozen states have legal sports betting, and it's expected that many more will follow.

As November elections creep up, here are three states that feature a legal sports betting question on their voting ballots.

Louisiana

States That Legalized Sports Gambling Laws

The Bayou State has discussed the idea of sports betting ever since 2018. But like the Houston Rockets, they can never get over the hump.

This year, a referendum is finally on the ballot that gives voters the opportunity to decide if sports betting is something they want. Voters will only be voting to approve or deny sports betting in their respective parishes.

The initiative is similar to the daily fantasy sports (DFS) vote in 2018. That year, 47 of the state's 64 parishes voted to approve DFS contests. Experts anticipate a similar (if not better) outcome for sports betting.

A 'yes' vote doesn't mean people can begin betting. The state legislature would still need to pass a bill enabling legalization and a taxation bill, both to be completed in 2021. Although sports betting isn't in the state's immediate future, it does look promising.

Chance of sports betting legalization: HIGH Harolds crown casino.

*Election results:Fifty-five of 64 parishes in Louisiana voted 'yes' on legalizing sports betting. Lawmakers will get to work on drafting a bill to govern and regulate the activity, with sports wagering most likely making its debut in 2021.

Maryland

Talk about a state coming so close, only to have everything crash and burn at the last minute. The professional sports equivalent of the Atlanta Falcons in Super Bowl LI — that's Maryland.

Back in March, Del. Nick Mosby led an eleventh-hour rally in Tom Brady-like fashion, which ended with the licensing language being stripped from S 4, a bill to legalize sports betting in Maryland. However, Mosby's concerns were valid. He and other members of the House Legislative Black Caucus felt the bill didn't do enough to benefit minority- and women-owned businesses.

But because of this, when election time rolls around, voters will simply be deciding on whether lawmakers should proceed with creating and passing a bill. If voters approve, lawmakers will get back to the drawing board and attempt to craft a new sports betting bill.

Sen. Craig Zucker, the architect behind S 4, indicated that should everything go according to plan, the proper authorities could determine how to conduct sports betting as early as January 2021.

Given the time lawmakers will have to sit down and iron out details, don't expect any more eleventh-hour roadblocks.

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Chance of sports betting legalization: HIGH

*Election results: Residents in Maryland approved the expansion of gaming by a 2-to-1 margin on Election Night. After 66% voted 'yes,' lawmakers will return to Annapolis and get to work constructing a new sports betting bill.

South Dakota

States That Legalized Sports Gambling

The last state we are keeping tabs on is South Dakota. It may not have the largest population, but the Mount Rushmore State is similar to this year's San Diego Padres — irrelevant for over 14 years, but now fun to watch.

All jokes aside, South Dakota has a chance to legalize sports betting, but only in the city of Deadwood near the Wyoming border. For this reason, it's at a disadvantage and low on the list. Regardless, should voters approve sports betting, it could look similar to how it's done in Washington, D.C., and Delaware.

With limited locations, it would hard to speculate on whether big-name operations like DraftKings Sportsbook or FanDuelSportsbook would try to enter the state. The bright side is, tribal casinos would be lumped in with Deadwood, giving customers a few more options.

States That Legalized Sports Gambling Rules

South Dakota is known for its scenery, but perhaps there's a chance it can also be known as a state that legalized sports betting in 2020.

Chance of sports betting legalization: MEDIUM

*Election results: With 95% of the votes counted, sports bettinglegalization within the city limits of Deadwood has a commanding lead (58.5–41.5).

Recapping the November activity

Louisiana, Maryland and South Dakota will each look to legalize sports betting in ways best suited for their respective states. There is not one generic model that fits every jurisdiction. Case in point: Not all states have online sports betting, only a few.

Louisiana has not discussed the option of online wagering, and South Dakota has all but put the issue to bed. Maryland, on the other hand, with its relative proximity to other states with sports betting, would benefit greatly from mobile wagering.

November will bring numerous political and financial implications. But, harkening back to our original theory, things can change in an instant.

*Check back after the November elections to find out the results for each state.





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