The US Supreme court had reversed lately a 26-year-old ban towards sports betting. This as a result enables each and every single state to have an individual decision whether they will permit wagers to be placed on sports such as basketball, hockey, football, baseball and several other titles. Back then, betting on sports had been restricted nationwide, except in 4 states which are:
- Nevada and;
A big percentage of American people actually backed the legalization of sports betting roughly 55 percent felt that sports betting have to be legalized while the 35 percent opposed to it. Let us not forget that the president himself formerly owns and runs casinos. With this in mind, the change in the approach of federal government regarding such matter doesn’t come to a surprise. On the meantime, this is a win among sports betting as well as casino sites online like casinochap.com for they can expand their reach.
By the time when sports return after the quarantine period for Covid-19, residents of Colorado can have the chance of betting on Nuggets, Rockies, Broncos, Avalanche and several other teams in the sports hemisphere. This is after when the Centennial State became the 18th in United States to legalized, in-sports betting to the public.
Sports Betting isn’t Dead
As per Darren Rovell of Action Network, Colorado may potentially reach 2 billion dollars worth of bets throughout its first year once it goes live. In return, this can generate about 12 million dollars in tax profits for the state. Apart from that, state laws of Colorado enables full online betting, which indicates that punters may deposit as well as bet on sports without having to go to a land-based casino.
In fact, despite the outbreak of Covid-19, BetMGM, BetRivers, FanFuel and DraftKings opted to open sportsbooks among casinos operating in Colorado. Aside from that, Rovell reported that there are 13 other outfits that are interested to open sportsbook in the said state.
Consequences that have to be Endured
This is actually good news for in the state of Nevada, a big part of sports betting industry have been affected by the pandemic. As per the revenue figures from Nevada Gaming Control, sportsbook in the said state had a 76 percent drop than what they typically generate during the same time of the year. Just 141.2 million dollars was bet at the Nevada sportsbook during March, which was the smallest amount ever wagered since 1993. Under normal circumstances, Nevada sportsbook can make anywhere around 596.7 million dollars in that month.