NFL, Media Attention Could Drive More Sports Betting Legalization

Trending 2 months ago

Posted on: January 31, 2024, 04:46h. 

Last updated on: February 1, 2024, 11:31h.

Avatar photo

The ongoing devotion of bettors and fans to nan NFL, and accrued media attraction could beryllium among nan factors that propel much legalization of sports wagering successful nan U.S.

Las Vegas Super Bowl casino edifice roomsAllegiant Stadium hosts Super Bowl LVIII connected Sunday, Feb. 11, 2024. An expert believes nan crippled and NFL popularity, successful general, could support broader legalization of sports betting. (Image: Las Vegas Review-Journal)

That’s nan return of Macquarie expert Chad Beynon who, successful a caller study to clients, said nan upcoming Super Bowl successful Las Vegas could beryllium different driver of broader legalization successful nan U.S. Currently, 38 states and Washington, D.C. licence sports wagering, but not each of those let mobile betting.

NFL ratings are stronger than ever and nan legalization of sports betting has apt been a awesome contributor to this success,” wrote Beynon. “With Super Bowl LVIII (Feb 11) being played successful Las Vegas, we expect moreover much ray to beryllium shined connected nan sports and sports betting industries.”

As has been nan lawsuit successful caller years, highly anticipated Super Bowl commercials are expected to see immoderate spots from sportsbook operators, which put much eyeballs connected nan activity. On nan different hand, immoderate manufacture observers are worried astir nan imaginable effect of a 60 Minutes  study connected sports betting scheduled to aerial this Sunday. There’s speculation nan conception will overgarment sports wagering successful an unfavorable light.

“We deliberation accrued media attention, including accrued ESPN Bet advertising, could yet lead to further interest/legalization complete nan adjacent mates of years,” added Beynon.

2024 Legislative Outlook

As Beynon notes, nan existent regulated sports betting scenery successful nan U.S. intends conscionable half of wagering adults person entree to mobile betting.

For various reasons, unrecorded and ineligible states specified arsenic Arkansas, Mississippi, North and South Dakota, and Washington don’t licence mobile betting. In Washington, D.C., there’s conscionable 1 online sportsbook, and entree to it is forbidden successful national buildings.

Then there’s nan constituent that, overmuch to nan chagrin of nan industry, neither California nor Texas look adjacent to legalizing sports betting. For nan manufacture astatine ample and investors, Texas joining nan ineligible campy would beryllium much material. That’s because nan authorities would let commercialized operators to get sports wagering licenses, thing California Tribal entities and galore voters oppose.

Today, there’s pending sports betting authorities successful conscionable 4 states – Georgia, Hawaii, Missouri, and Oklahoma. Of that quartet, Georgia appears to beryllium nan astir apt to perchance o.k. mobile sports betting this year, while Hawaii is nan agelong changeable of nan group.

Flutter NYSE Listing Could Help, Too

Another catalyst for broadening nan scope of sports wagering successful nan U.S. is nan caller listing of FanDuel genitor Flutter Entertainment (NYSE: FLUT) connected nan New York Stock Exchange (NYSE), according to Beynon.

That long-predicted move occurred connected Monday, instantly making Flutter nan second-largest gaming institution by marketplace worth trading successful nan U.S., down only Las Vegas Sands (NYSE: LVS).

It’s imaginable that arsenic much organization investors clasp Flutter, and arsenic nan shares perchance subordinate wide followed home equity gauges, nan ensuing attraction could positively effect nan legalization front.

More
Source Casino news
Casino news