In 2018, we published an article about the US Supreme Court’s invalidation of a key federal gambling statute – the Professional and Amateur Sports Protection Act – that triggered a modern goldrush for companies looking to grab a piece of newly legalised sports betting markets.
Only a few months on and we are off to the races.
Market growth is relentless
Using New Jersey as an example, the data demonstrates that not only are the operators flocking in but the punters can’t sign up quick enough.
To offer legal sports wagers in New Jersey, sportsbooks (online and retail) must be tied to a licensed operator. Eight Atlantic City casinos and two racetracks currently offer sports betting. Each licensed operator is allowed three online skins.
As of the end of March 2019 the numbers in New Jersey are[1]:
- Total retail (land-based) and online bookies – 23
- Online sportsbook apps – 13
- Total handle US$2.3bn
- Online handle US$1.6bn
- Retail handle US$0.7bn
Monthly online handle has grown to ~US$300m per month and retail handle at ~US$80m.
The handle doesn’t tell the full story for the operators and the Government coffers though, over the first 9 months the bookies have been winning at ~7% (US$157m revenue) and the Government has pocketed ~US$18m in taxes. And while the bookies margins look low, it is important not to be fooled by the early day margins with most likely content to win at a small percentage in order to open accounts and convert customers with competitive prices and enticing promotions.
Make no mistake, the goldrush is on.
Legalisation is set to continue
The majority of states in the USA are following swiftly in the footsteps of New Jersey.
Eight states have fully legalised sports betting – New Jersey, Nevada, New Mexico, Mississippi, Delaware, West Virginia, Pennsylvania and Rhode Island.
Arkansas recently passed a bill to legalise sports betting and a further 31 states have introduced bills that would do the same.
The models of legalisation are expected to vary greatly. Many, like New Jersey, will enable private operators while others such as Hawaii, which has proposed a state-owned entity – the Hawaii Sports Wagering Corporation – will not.
Betting partnerships are emerging
Major sports leagues and their representatives were long time opponents of sports betting prior to its legalisation. And it was no surprise with some, like former NBA commissioner David Stern, forced to manage the league’s pathway through historical betting scandals like that involving referee Tim Donaghy in 2007.[2] Donaghy was found to have supplied information to gamblers while also betting on games he officiated.
However, this looks to be well in the past. As of early 2019, all major US leagues have inked deals with ‘Official’ gaming or betting partners.
| League | Sportsbook / Casino Partner |
| NBA | MGM Resorts, BetStars, FanDuel |
| NHL | MGM Resorts, FanDuel, William Hill |
| MLB | MGM Resorts |
| NFL | Caesars |
And it hasn’t stopped with the leagues. Individual clubs across all codes, including New York Jets, Dallas Cowboys, Baltimore Ravens, Philadelphia 76ers, New Jersey Devils and Vegas Golden Knights have entered into strategic arrangements with betting companies to enable fans of legal betting age to “engage through various media, advertising and promotional platforms.”
As the revenue potential of such arrangements become clearer, many more clubs will follow and the sports betting industry’s meteoric growth will continue.
What does this mean for motivated candidates interested in working in sports betting?
For those seeking a career in sports betting there has never been a more exciting time to consider opportunities to work in the US with thousands of new job openings every week.
Are you an Australian citizen, university qualified and have previous experience in the Australian wagering or sports gambling market?
If the answer to these questions is yes, then you are well positioned to be 1 of 10,500 Australians each year that has exclusive access to be sponsored for an E3 Visa and makes you an ideal candidate to build a career in the biggest sports gambling market in the world.[3]
Please browse and apply for open job opportunities and contact BettingRecruitment today at info@bettingrecruitment.com if you are interested in an exciting career in the US sports gambling market.
[1] https://www.playnj.com/sports-betting/revenue/
[2] http://www.espn.com/nba/story/_/id/25980368/how-former-ref-tim-donaghy-conspired-fix-nba-games
[3] http://www.h1base.com/content/e3visa
