Sports wagering has hit the ground running and is accelerating fast. With over 10 states now offering sports betting, the opportunity to wager on sports throughout the U.S. is on the horizon. The Supreme Court decision that opened the door for states to legalize the ability to bet on any sports enabled the expansion to begin in June 2018. At the time of writing this article, the revenue stream is on a hiatus with the coronavirus putting almost all sports on hold, but it will begin again. Now is a good time to review where we are going and where we have been.
While states may limit the locations where wagers can be made, often to boost land-based businesses, mobile wagering will clearly dominate the industry. New Jersey has experienced over 80% of wagering being mobile. Some have predicted that within a decade over 90% of sports wagering will be via mobile platforms. This is likely true, but only for those states that allow mobile wagering. A number of states have limited wagering to specific land-based locations, such as casinos. It is very likely that the desire to increase revenues will cause those states to re-examine their policies and approve mobile wagering. There are advantages and disadvantages to mobile wagering.