In New Jersey and Arizona, sports betting is now legal. However, in Deadwood, Wyoming, the ban on sports betting was reinstated in 2014. Adam Silver, the new NBA commissioner who succeeded David Stern in 2014, saw the potential of a legal sports betting market. He argued that it would be safer than an illegal market and be better for the leagues. He wrote an op-ed for the New York Times arguing for legalizing and regulating sports betting.
Legalization of sports betting in New Jersey
In its first year, legalized sports betting in New Jersey has been a mixed bag. The state’s Department of Gaming Enforcement reported that sports betting in New Jersey generated $546 million in August. But despite the setback, the state has seen steady growth in sports betting handle. In the last three months of 2018, handle exceeded $250 million, and in November and December it topped $500 million. In fact, during that time, New Jersey surpassed Nevada in total monthly handle.
Legalization of sports betting in New Jersey has come under fire from the National Collegiate Athletic Association. The league was not pleased with the ban and filed a lawsuit to stop the state from issuing sports betting licenses. In the end, New Jersey was successful in convincing the federal court that the Professional and Amateur Sports Protection Act violates the constitution and stripped states of their regulatory power.
Legalization of sports betting in Arizona
Despite a tumultuous two-year battle, legal sports betting in Arizona has finally been approved by the state’s legislature. With the passage of HB 2772 by a 23-6 vote, Arizona is now among the growing number of US states to legalize sports betting. As of the time of this writing, there are a total of 20 licensed operators in Arizona. The remaining two are expected to open soon.
Sports betting in Arizona is a legal process, and it could take anywhere from four to 16 months for the law to be fully implemented. However, the goal is to have sports betting up and running in the state by the start of the NFL season in 2021. The state is now looking forward to welcoming sports bettors with open arms.
Arizona is home to numerous professional and NCAA teams and popular sporting events. The Arizona Cardinals, the oldest professional football team in the United States, have a rich history and have won the national championship twice. The legalization of sports betting in Arizona could help boost the state’s already strong sports culture and give sports fans another reason to bet on their favorite teams.