US To Follow British Example in Sports Betting
With its long history of gambling and sports betting, Great Britain can set an example for bookies worldwide, and it looks like it is becoming a role model for US sports betting.
Due to quite a few changes in state legislation over the years, sports betting in the US had many ups and downs. As different states used to have individual laws and regulations regarding gambling, there’s been an overall confusion among the bettors and the players.
The situation drastically improved three years ago when the US legalised sports betting. This decision has opened up doors to a whole new market for gambling and sportsbook companies. Even though the situation is promising, the US is still a young developing market, and it has a long way to go.
Great Britain is the world’s most developed sportsbook market, with numerous well-established gambling venues and a betting tradition stretching back centuries.
It all started with horse racing a long time ago. The earliest recorded races were held at Chester in the sixteenth century. King Charles II was a passionate sportsman and horse jockey who even had a palace built near Newmarket to make it easier to visit horse races. This palace is still popular and well-known under the name Ascot Racecourse.
Today, UK sports enthusiasts can bet on anything from football, rugby, basketball, cricket, golf, and even virtual and fantasy sports.
The betting market has always been a crucial part of the UK gambling industry, and according to statistics, it generated 2.4 billion British pounds last year.
English Premier League is a major part of the UK sports betting scene, and as one of the best football competitions in the world, it draws millions of fans all across the globe. This makes bookmakers constantly compete by offering exciting odds to attract some of those fans.
The situation in the US is slightly different as they have four major leagues to cover: NBA, NFL, NHL, and MLB. This partition makes it harder to sort things out, and since the business is not developed yet, the US still does not generate nearly as much betting revenue as it could.
By following Great Britain’s example, the US can get far and establish a solid sports betting market. Now it’s left to wait and see if they will do what it takes to become the world’s next sports betting magnate.