Currently, sportsbooks are legalized in several states, including Wyoming, Arizona, Colorado, and West Virginia. So what are some of the common bets people make at a sportsbook?
Legalized sports betting in Arizona
During the first week of September, Arizona sportsbooks received $291 million in wagers. This set a record among six states. In the first two months of legalized sports betting, Arizona received over $466 million in wagers.
As of August 28, Arizona Department of Gaming officials had received over 20 applications for sports betting licenses. The number of applicants was so high, the department announced that they were unable to award licenses to all applicants. The department also announced that they were able to grant permits to sports betting companies that were affiliated with Native American tribes.
According to the Arizona Department of Gaming, sports betting in the state is expected to generate $30 million in tax revenue by 2024. Arizona’s approach to sports betting has been successful.
Legalized sports betting in Colorado
During the first year of legalized sports betting in Colorado, the state’s casinos registered over $3 billion in bets. In the year following legalization, there were 26 sportsbooks in Colorado. These books are located in Black Hawk, Colorado Springs, Cripple Creek, and Central City. There are also 19 retail sportsbooks in Colorado.
Sports betting in Colorado is regulated by the Colorado Division of Gaming. The office has developed programs to educate casino employees on sports betting, and offers support for problem gamblers through a self-exclusion program.
Sports betting in Colorado is legal in the casinos, and also online and mobile. The state is home to five professional teams. Sports bettors can place wagers on any of these teams or any college team.
Legalized sports betting in WV and Wyoming
Earlier this year, West Virginia was the fifth state to launch a regulated sports betting market. The state’s Lottery Commission regulates legal wagering.
In April, Governor Mark Gordon signed a sports betting bill into law. The lottery is expected to haul in at least $28.7 million in the first year.
The bill is expected to be reintroduced in the next legislative session. It has been introduced in the House and Senate, and is being reviewed by the Senate Committee on Economic Development. It’s also a possible candidate for inclusion on the 2022 election ballot.
This is one of the more controversial sports betting debates in the US. There are a number of states with philosophical objections to legalization. A few states have a minimum age requirement. However, in some cases, online sports betting is allowed.