Any predictions about what the future holds will never be set in stone because we never know what the future holds. However, pretty accurate predictions can be made by looking at previous years’ stats and data. So let’s take a look at what we might be seeing in the next few years in line with all of the latest advancements.
Contents
- 1 1. Tribal Online Gaming Will Begin To Advance in the New States
- 2 2. Restrictions on Gambling Adverts
- 3 3. More States Authorizing iGaming
- 4 4. The South Jumping on Board
- 5 5. The Massive Changes in New York’s Gambling Market
- 6 6. Removal of Sports Betting Tax Through Federal Legislation
- 7 7. High Stakes for the Expansion of Sports Gambling in November ‘22 Ballot
- 8 8. New States- to Join the Billion Dollar Handle Club in the New Season
1. Tribal Online Gaming Will Begin To Advance in the New States
As a result of the legal mess in states such as Florida, the question of whether or not tribes are allowed to provide statewide internet gambling is still unanswered, and the federal Indian Gaming Regulation Act (IGRA), is not a green light for online casinos that happen to be outside of tribal territories.
Some tough choices lie ahead for tribes in other states. Will they continue to provide iGaming and sports betting on their own territory, or will they push for statewide access, even if it entails regulation by state agencies? Will they even be able to participate in the market?
When it comes to internet gambling, I believe that tribes in places like Oklahoma and Minnesota may contemplate collaborating with state officials and lawmakers on a state-wide platform in 2022 because of IGRA uncertainty and the appeal of an all-state audience.
2. Restrictions on Gambling Adverts
In jurisdictions where sports betting is allowed, state authorities have already expressed their disapproval of the flurry of advertising. A similar marketing blitz like that of daily fantasy sports in 2015-16 is likely to occur as firms fight hard for client acquisition.
It’s difficult to envisage the industry self-regulating the occurrence of marketing till at least 1 state regulatory or AG steps in, even if the bombardment of marketing will gradually slow down over time.
The advertising sector should take note of this and start taking measures like those used in Ireland and the Uk to reduce the size of advertisements.
3. More States Authorizing iGaming
Several other states will be eager to expand their online casino offers as a result of the success of online sports betting. Indiana, Iowa, and maybe Colorado as well as Rhode Island, will join the seven existing states that already allow online casino games in 2022, according to certain predictions. This will increase the popularity of online casinos even further, and people can be sure to find an amazing variety of brand new online casinos in 2022, to suit their needs.
4. The South Jumping on Board
In the year 2021, states including North Carolina & Georgia made significant strides in popularizing sports betting. Sports betting came dangerously close to becoming legalized last year, even in traditionally conservative states like Alabama.
It’s impossible to disagree with the success of controlled sports gambling in the 30+ states that have already allowed it, despite conservative resistance to gaming.
5. The Massive Changes in New York’s Gambling Market
However, despite the fact that the system is still in its infancy, the inadequacies in state legislation have already been exposed. Operators are likely to advocate for a tax rate reduction from the present unattractive 51% to a level closer to Pennsylvania’s 34%.
As a result, the state’s tax rate will remain the same for those operators who didn’t make the initial reduction, which includes household brands and worldwide gaming powerhouses. With Cuomo out of the picture, New York should gradually become a more welcoming climate for online gambling.
6. Removal of Sports Betting Tax Through Federal Legislation
While delegates from Nevada as well as New Jersey and other states have complained for years, the time has come for the internet gaming industry to make a serious effort to have this arbitrary and outdated tax removed, which unfairly disadvantages legal operators in comparison to unlicensed offshore operations that pay no taxes.
Sports betting excise taxes should at the very least be utilized for a connected purpose, such as providing the funds necessary for law enforcement to properly pursue outrageous offshore operators.
7. High Stakes for the Expansion of Sports Gambling in November ‘22 Ballot
Voters in numerous states were enthusiastic about sports betting in 2020. Nonetheless, for two of the country’s major markets, the stakes are considerably higher. Leading businesses in the sector are now working to place online gambling on the ballot in both Florida and California in the near future.
However, the Seminole Tribe of Florida has already created and closed down the state’s only sports gambling online product, which is why these regions have their own unique take on sports betting.
Before the November ballot issue, the tribes are expected to open their war chests in an unprecedented and enormously expensive struggle.
8. New States- to Join the Billion Dollar Handle Club in the New Season
Voters in numerous states were enthusiastic about sports betting in 2020. Nonetheless, for two of the country’s major markets, the stakes are considerably higher. Leading businesses in the sector are now working to place online gambling on the ballot in both Florida and California in the near future.
However, the Seminole Tribe of Florida has already created and closed down the state’s only sports gambling online product, which is why these regions have their own unique take on sports betting.
Before the November ballot issue, the tribes are expected to open their war chests in an unprecedented and enormously expensive struggle.
