2021’s Top Bet Online Sportsbook
The leagues—both team owners and players—also want a piece of the action. Gambling is expected to be a boon to professional leagues because the extra interest will increase ratings, ticket sales, and partnerships. In the NFL, NBA, and NHL, players unions have negotiated for a percentage of league revenue, so players will benefit from an increase in those revenue streams. Sportsbooks have thin margins, and the $150-to-$400 billion figure often cited is nowhere close to the amount lining bookies’ pockets. Kornegay estimates that a Las Vegas sportsbook’s revenue is roughly 4.6 percent of the total money wagered.
In April 2021, lawmakers finalized legislation that allows 60 online and 30 retail options. Delaware’s lottery-run sports betting market still prohibits online betting, leaving only three retail sportsbooks in the state — and unimpressive revenue numbers. Supreme Court striking down the Professional and Amateur Sports Protection Act , the federal ban on sports wagering, in 1992, other states are set to rival Nevada’s sports betting dominance.
But for now, you’ll have to visit one of the 14 states above or the District of Columbia to place a sports bet online. State voters passed Amendment 3, which requires any implementation of further casino gaming in the state will require it pass via the citizen initiative process. This will require 60 percent approval of any measure on the ballot, whereas previous, the legislature had control over such implementation with a simple majority vote. 2 state legislators introduced ACA 16, a 2020 ballot initiative that would amend the Constitution to allow for the regulation of sports betting.
Offshore online sportsbooks typically have the most wagering options, as state-licensed sites and sportsbooks sometimes have restrictions on local collegiate teams. For example, BetOnline might have a spread at the standard -110 odds, while a local sportsbook could have the same line at -140 odds . Sports bettors should always shop lines between multiple sportsbooks in order to find the best odds with the biggest payouts. Offshore books exist outside the scope of US regulatory oversight and legal jurisdiction. Because all these US and state laws criminalize only unlicensed domestic sportsbook operators, offshore operators are unaffected.
Each state is now responsible for setting its own laws around online sports wagers unless Congress passes new legislation. And that includes the likes of some of the biggest names in the business, like FanDuel and DraftKings. New Jersey’s attempt to implement sports betting led to the lawsuit that ultimately overturned the Professional and Amateur Sports Protection Act .
Delaware was the first state to introduce regulated sports betting outside of Nevada on June 5, 2018. All legal wagering is operated by the state lottery which launched a sportsbook app on September 4, 2019. The Hollywood Casino at Penn National Race Course was the first sportsbook to open in Pennsylvania in November 2018.