Sports Betting Laws

sports betting

If you are looking for an exciting and lucrative way to make some extra money, sports betting may be just what you’re looking for. A few states have legalized sports betting, including Illinois, Rhode Island, and Colorado. Find out more about these sports betting laws. Here’s a list of popular sports that you can bet on.

Legalized sports betting in Ohio

Legalized sports betting in Ohio is an upcoming state law that will allow residents to place bets on sports events. The state is among several others that have passed similar legislation in recent years. The state legislature hopes to pass a bill that will allow sports betting by the summer of 2021. That means sports gaming in Ohio could be legalized by year’s end.

The Ohio Gaming Commission is currently reviewing applications from a variety of companies. Some of the applicants are casino operators, racinos and professional sports teams. But other entities have also applied for sports betting licenses, including the Hall of Fame Village in Canton, and the SPIRE Institute in Geneva. Furthermore, the state’s sports betting legislation allows for as many as 40 retail sportsbooks to be set up. Moreover, certain lottery retail establishments can also open kiosks for sports betting.

Legalized sports betting in Illinois

In 2018, Illinois lawmakers debated the legalization of sports betting. Five bills were introduced, paving the way for future legislation. Rep. Mike Zalewski’s bill drew criticism for its unusual provisions, including high fees and an 18-month waiting period for retail sportsbooks. The high court has yet to rule on the matter.

However, Illinois is now a top-three state in online sports betting handle numbers. The state’s phasing out of in-person registration will encourage more sportsbooks to enter the market. Meanwhile, the state’s pro-gambling lawmakers have also begun pushing to legalize online poker and casino games. Illinois is home to 10 casinos, two racetracks and nine professional sports venues. With the recent decision to legalize sports betting, the number of online sportsbooks is likely to grow significantly.

Legalized sports betting in Rhode Island

Legalized sports betting in Rhode Island is an option that is available for those residents that want to place wagers on sports and events. The state’s legislature passed SB 37 in March, and a statewide online sportsbook opened on September 5 – just in time for the NFL season. But the financial results have been mixed, with lawmakers stating that half of the app downloads did not result in a registered player. But despite this setback, the state is all-in on land-based sports gambling.

There are a few advantages to using cryptocurrency for online sports betting in Rhode Island. For one, it offers anonymity, security, and low fees. In addition, a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, are accepted by online sportsbooks. In addition, bettors can protect their funds by using an eWallet service, which acts as a middleman between the online sportsbook and a bettor’s bank account. Several eWallet services partner with Rhode Island sports betting sites.

Legalized sports betting in Colorado

After years of debate and stumbling blocks, sports betting in Colorado is finally here. The new state law, known as Proposition DD, will allow both online and retail sportsbooks, which will be based in casinos. The new law goes into effect May 2020. There are already more than 50 operators seeking licenses. More are likely to be granted in the coming months.

As of May, sports betting in Colorado collected $25.6 million in wagers. This is an encouraging sign for the state’s sports betting industry. During May, six internet operators collected bets, which contributed to the revenue. The state department expects the industry to continue to grow. There are currently 25 retail sportsbook operators and 19 internet operators licensed in the state.