If you have followed our news in the past year and a half, you have surely noticed that we extensively cover the situation in the US and the developments in different states. The situation varies from state to state, but the overall trope is that America is slowly progressing towards legalised online gambling. The US legislative approach towards gambling has been quite restrictive, in fact it was one of the very few countries in the developed world where online gambling was almost entirely prohibited, or at best severely restricted and limited to just a number of states.
But things started changing. Towards the end of October in 2019, Google decided to allow gambling advertising in the US. This year, there were many initiatives. In May it was announced that Marylanders will have a chance to vote on sports betting this November and soon after we reported on Ohio’s intention to legalise sports betting. Things didn’t end there and in July it was also announced that there’s a sports betting bill proposed in Georgia. It is pretty evident that the situation is changing on a monthly basis and there are more and more states where gambling is now legal or is about to be legalise. Therefore, we have a look at the online casino performance on a national level.
Sports betting in decline
It could be said that the second quarter of 2020 was a success for US online casinos, but that would be a bit of an understatement. This was an extremely successful period for the US online gambling industry. The reported revenue during the second quarter was over $400 million, a figure that’s more than triple the amount that was earned during the same period of 2019.
The research data shows that the industry growth is above 250% year on year and almost 190% if we take into consideration the first half of the year, i.e. the two quarters.
On the other hand, the period was not as fortunate for brick and mortar venues. Their revenue decreased by almost 79%, standing at just $2.3 billion, as opposed to $10.8 billion last year. Remember that most casinos were closed for significant parts of the year, so the decrease is understandable.
2020 wasn’t a very fortunate year for sports betting operators in the US, primarily because a lot of sports competitions were cancelled or postponed. So, despite the fact that sports betting is no legal in a total of 18 states across the US, whereas online casinos can only operate in five, the sports betting revenue is down by over than 46% year on year.
New sports betting options in Michigan and West Virginia
Still, everybody is convinced that sports betting will recover in the remainder of the year, especially since sports has restarted and there are plenty of events. On top of that, there are few new initiatives when it comes to betting options. It has just been announced that Michigan just introduced a new option for punters who wish to place wagers on horse racing.
In West Virginia, William Hill launched a new sports betting app and this app can be downloaded on iOS and Android devices by anyone who is located in West Virginia at the moment of download.