Legalization of sports betting in the US, an opportunity for Bethereum.
Bethereum is combining betting, gaming, and blockchain technology to deliver a unique platform, unlike any other out there. We would like to dedicate this newsletter to the sports betting market in the US, which is now rapidly becoming one of the more interesting and attractive potential markets.
The US sports betting market was valued at around $104 billion in 2017, and has already reached approximately $155 billion in 2018! The online/mobile sports betting segment is likely to become the most prominent sports betting market in the upcoming years, as a result of the ever-increasing awareness to online betting platforms. However, according to studies, Americans gamble more than $150 billion illegally, and only about $5 billion comes from legal betting. Now, a historic change is underway, as an extensive regulation are already taking place.
In May 14th, 2018, the Supreme Court overturned the 1992 federal law that essentially restricted legal sports wagering to Nevada. Since then, seven other states have launched sportsbook operations and now more States are moving to pass their own legislation.
Experts expect New York, New Jersey, Nevada, and Pennsylvania will be the largest sports-betting states by 2024, with Illinois, Massachusetts, Michigan and Ohio also set to become major markets. According to some expert’s estimations, legislations will be passed in 34–40 States by 2024!
Given this immense progress, and Bethereum having a unique value offer for this emerging market, we aim to establish a presence within the US. The potential is huge, and Bethereum is stepping up to the plate! Read more the opportunities in the sports betting industry on our Medium.
