Sports Betting Laws – New Opportunities For
the Sports Betting Industry
Sports betting is a multibillion dollar industry. New Jersey and Pennsylvania have already
legalized sports betting on88. New York is expected to follow suit in 2022. If sports betting is legalized
in the U.S., there will be a plethora of new opportunities for online sports betting. In addition,
legalized sports betting will create new media and tech niches with a massive potential
consumer base. Let’s look at what these niches mean to the sports betting industry.

Online Sports Betting Is Changing Sports and the Gambling Business: Graphic
New Jersey legalizes sports betting
Legalizing sports betting in New Jersey has a lot of benefits for the state. Many sportsbooks
have already gone all out on advertising, showing up on billboards and public transportation.
This means good money for the state and new jobs for thousands of people. But does
legalization of sports betting really help the state? Let’s take a closer look at the pros and cons
of legalizing sports betting in New Jersey. This will help New Jersey stay competitive and keep
its population safe from fraudulent operators.
New Jersey’s sports betting industry is set to boom in 2019. The state is already half-way to a
$10 billion industry. Sports betting has more revenue than marijuana and is a good way to
combat unemployment. In 2017, the state had a total handle of $240 million. This year, the state
is expected to surpass Nevada in total handle. However, there are restrictions on the industry. In
New Jersey, you can only bet on teams and events that are located in the state.
Pennsylvania legalizes it
Sports gambling in Pennsylvania is a big step for the state, and the legislation to allow it was
passed with a great deal of debate. The legislation came as part of a larger gambling expansion
package that included online poker, mini-casinos, tablet gaming, and online casino games. One
of the major provisions of the law is a 36% tax on sports betting revenues. In order to operate in
Pennsylvania, online sportsbooks must partner with a land-based casino. Each land-based
casino is allowed to open up one online skin.

Why States Were Unprepared for the Sports-Betting Onslaught - The New York  Times
The earliest attempt to legalize sports betting in Pennsylvania was spearheaded by Rep. Tina
Davis. Her bill, House Bill 1235, would have allowed existing slot machine and casino license
holders to apply for supplementary licenses. It also mandated a $5 million non-refundable
authorization fee and a 28 percent tax on the revenue generated by online gambling. Despite the
opposition, the bill was passed and is expected to be signed into law by the end of 2018.
New York will follow suit in 2022
New York State Gaming Commission has awarded licenses to nine sportsbooks that are
expected to launch online sports betting in time for Super Bowl LVI in February 2022. The new
online sports betting industry is expected to generate massive amounts of tax revenue for the
state. A gambling intelligence service estimated that in 2022, New York could generate nearly
$700 million in tax revenue from sports betting. The two groups that were granted licenses to

operate in the state are FanDuel and DraftKings.
The Knicks have a young core that is fun to watch, but they took a step backward this season.
Derrick Rose’s injury didn’t help their cause, either. Brooklyn Nets barely made the playoffs in
2022 despite being one of the favorite to win the NBA title this season. Even though the Nets
don’t lack talent, they have disappointed sports betting websites.

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