You’ve heard probably heard the hype about sports betting companies.
Betting on sports is on its way to becoming legal across the United States.
You might even be asking yourself, ”How can I get in on legal sports betting in the US?”
In this post, I’m going to go over the history of the legalization of sports betting in the US, how Vegas is involved, and what to expect from online sports betting casinos.
The History of Sports Betting in the United States
America has a long tangled history with sports betting. The lack of trust within the American culture for sports betting runs deep. The generational mindset that sports betting was tied to organized crime and immoral behavior is a hard reputation to fix.
Public protest brought the trend of stricter sports betting and gambling laws throughout the 1900s as major scandals came to light in the sports betting arena. In the early 1990s, the 1992 Professional and Amateur Sports Protection Act nailed the coffin shut for American legal sports betting in all but a few specific instances.
The decision by the US Supreme Court bolstered new avenues that were untouched by opinions of the public and the news media. This opened up the online sports betting arena to other countries. The UK saw the opportunity to step in and take the market by storm the sports betting arena.
Paddy Power (Betfair), an Irish betting company owned by Flutter, saw the opportunity and jumped on it. Their CEO described the potential as the most exciting thing that has developed since the introduction of online gambling.
In May of 2018, the United States Supreme Court struck down the 1992 law that made sports betting illegal in the US. This opened up states to draw their own legislation on legalizing sports betting.
A perfect conjunction of an obsession with sports and the breadth of the community in the United States would make this one of the biggest sports betting markets in the world. Sports betting is becoming legal in more and more states as the years have gone by. You can find an up to date list of which states have legal sports betting and which ones have pending legislation here.
In 2019, the industry experts’ valuation of the legal and illegal sports betting markets had varying appraisals of the true market value. Stay tuned for big news coming out of this market and big changes as the old opinions on sports betting shift as more and more states overturn their legislation on sports betting.
The 3 Best Sports Betting Companies in Las Vegas
Sports betting has been legal in Vegas and almost nowhere else for decades. These 3 established sports betting companies are ready to take your action on college or professional sports.
This sportsbook is known as the biggest and the best sportsbook in all of Las Vegas, NV. It was renovated a few years back It boasts 220-foot-by-18-foot 4K Video Wall. The second-place sportsbook is in a far second place.
If you’re s sports fan looking to get a break from the casino floor, stop in and order a drink. The charged atmosphere will wake you right up. This is my go-to place when I want to visit a sportsbook in Las Vegas.
Landing in my #2 spot for sportsbooks is Caesar’s in Las Vegas. It’s everything you could want from Las Vegas. Its huge square footage makes room for its comfortable seating, the 143’ 4K screen and state of the art sound system, and classic Caesar’s accommodations are all unmatched by other properties in the city..
With its central location on the strip, Caesars is a fun and exciting place to dip your toes into sports betting. Don’t expect fast cocktail service. Almost every time I’ve had to get up to get my drink from the bar.
Rounding out my list of best sportsbooks to visit in Las Vegas is the Venetian Race and Sports Book. The space has the ability to host 42 sporting events simultaneously in the 10,000 square foot space.
The Venetian’s Sportsbook is home to 118 private betting cubes with the state of the art CG Technology.
The Top 3 Publicly Traded Sports Betting Companies Online
With the Supreme Court’s overturn of the 1992 Professional and Amateur Sports Protection Act, the market was blown wide open for legal online sports betting. In 2018 the traditional casino-based gambling industry has been a tight market to corner as the biggest and best sports betting site in the US.
Its a dog eat dog world for sports gambling companies. They’re getting bought by each other and others are striking out on their own.
Here are the top 3 players online:
4- William Hill (OTCMKTS: WIMHY)
This is one of the top betting and gambling companies in the world. With a 25% market share, it is the biggest sports betting entity in the UK and Ireland.
William Hill is making huge inroads in the United States’ sports betting market. They started their infiltration into the US betting circles in 2012 when they launched William Hill US. William Hill now operates over 113 locations in the US and plans to expand its American presence.
They might be the largest US sports betting operation in the US. Their mobile abilities within the sports betting arena give them a lead on catching users without a land-based internet connection. If you haven’t heard of them yet you will soon.
5- The Stars Group (NASDAQ: TSG)
The Stars Group holds the title as the world’s largest online poker corporation. They’re most famous for their brands PokerStars and Full Tilt. They also have the fastest expanding online casinos and sportsbooks. TSG raked revenue of $420 million in a short 4 years. As the United States moves towards more states legalizing sports betting this number could grow exponentially.
TSG’s already massive customer base is comfortable with their name as a brand. They have leveraged that advantage to capture their traditional online gambler to move them into sports betting as well. That’s a huge market share to also advertise their brand as a sportsbook.
TGS’s ability to cross-market to their online poker base positions them to break records in the US sports betting sector. Trust in online gambling equals repeat and long time customers.
6- Paddy Power (OTCMKTS: PDYPY)
This Flutter Entertainment property is known for its online gambling and sports betting offerings. Paddy Power’s true strength relies on its superior app and brand awareness.
Based out of Dublin, Ireland, Paddy Power had cornered the online sports betting market when it was illegal to bet with US-based companies. They capitalized on the influx of offshore sports betting when the US Supreme Court outlawed sports betting in 1992.
They have continued their success with sports betting becoming legal once again in the US.
And they’re part of the same group as Betfair, Sportsbet, TVG, and FanDeul. This is a great starter group to get your sports betting going.
Is Overseas Sports Betting for You?
Overseas, or “offshore,” sports betting is the term used for non-US locations of the sportsbooks online business and servers. A lot of overseas sports betting sites operate from Central American and Caribbean countries.
Still more online sportsbooks operate from Asia and Canada. The phrases “offshore” and “overseas” are blanket terms that refer to any online sports betting site offering sports gambling services to citizens of the United States.
Offshore sports betting sites are a great alternative for Americans who live in states that have yet to legalize sports betting. There is no need to travel to a state that offers legalized sportsbooks.
Let’s look at the pros and cons of overseas sports betting:
- Availability is the number one reason to use offshore sportsbooks and casinos to bet on sports. Online sports betting casinos that are offshore or overseas are available to players in all 50 states in the US. There are no laws or legislation against Americans gamblers paying “in” them as they are in other countries. The other advantage of the availability factor of overseas online casinos for sports betting is that your options for sports markets just multiplied exponentially. Not only can you bet on American markets, you have a multitude of other countries to play in. It’s one of my favorite advantages of playing online offshore sportsbooks.
- Cryptocurrency is accepted at an increasing number offshore sports betting casinos. Offshore sportsbook payment processors were a major problem for the online sports betting sites. That issue is becoming the past. With the introduction of cryptocurrencies, like Bitcoin and Litecoin. Overseas sportsbook sites have started to accept Bitcoin and the like. As technology progresses and more cryptocurrencies become available, we will see he stabilization of the offshore casinos and the ability of players to cash in on their casinos, literally.
- Bonuses are very generous at overseas sport betting sites. At American online sportsbooks, they have very strict bonus rules as well as being on the skippier side. Some offshore casinos even offer up to 100% bonus deposit match before you start playing. Make sure to read the overseas casino’s terms and conditions before you start taking advantage of their bonus offers.
There are obviously some pretty amazing advantages to playing at offshore sportsbooks and casinos for sports betting. But let’s also look at some of the cons of placing bets at overseas casinos for sporting events.
- Desktop platforms for overseas casinos can be hard to navigate. They rarely offer mobile apps making it hard to place wagers on the go. There are some sites that don’t fall within this category, the majority of offshore sportsbooks are difficult for new players on their sites to get used to and finding the athletic event you are wanting to bet on can be close impossible. One thing you will also notice about betting on overseas sportsbooks is the absence of live and in-play bet placing. Online sportsbooks in the US are regulated by state and federal laws allowing players to place bets during the sporting events and have real-time updates. If you do find an overseas sports betting site that does offer these features, they are poorly executed.
- Overseas payment processing can be clunky and delayed. Offshore sportsbooks previously were in a very grey area, making banks and financial institutions wary of processing their payouts and deposits. This is a common explanation of when you want to deposit or withdraw money from your overseas sportsbook account you run into the problem of not being able to withdraw or deposit. This is because your bank doesn’t trust the institution on the other end.
- Offshore sports bettors’ biggest complaint is that they are under the same gambling laws as the United States. This is a major issue because if the site disappears from existence you won’t be able to get your money back. When this happens you have no recourse or consumer group to help you retrieve your money. You can try to dispute the missing money but, like I just mentioned, you are not dealing with a sportsbook regulated by the United States governing legislations. Please do your research and make sure to read player forums and reviews of an overseas sport betting online casino before playing. The offshore sportsbooks can be fun and worth checking out as long as you’ve done your research.
I’ve covered a lot of information in this post about sports betting companies.
I hope you feel armed with enough information and a better grip on the industry of sports betting in the US and abroad.
I would love to hear your experiences with sportsbooks and any questions you may have. Please leave a comment below. Happy betting.