Which States Will Contribute to the $27.5 Billion U.S. Sports Betting Market by 2030?

Sports betting is becoming increasingly popular across the United States. Everything changed in 2018 when the Supreme Court decided to strike down the federal ban on sports betting.

Now several states have legalized sports betting which has also helped to change the attitude surrounding it. Additionally, the rise of technology and cyber security has also helped to make it more accessible and safer to more people. With these factors and many more, the industry is thriving. In fact, by 2030 it’s expected to reach $27.5 Billion in the U.S. market. So let’s take a look at some of the states that are expected to contribute to this large sum. 

Key States to Keep To Keep an Eye on 

As of now, there are 38 states where sports betting is legal. However, it’s important to note that the legalities surrounding each state are slightly different. For example, some states may have legalized sports betting, but not online. Whereas others may have restrictions that only allow specific betting providers to run. New Jersey was one of the first states to legalize sports betting. Its success in legalizing sports betting has played a huge role and led the way for several other states. The state works with many providers to provide some options for its residents. This year alone $9.2 billion has been legally wagered, showing just how popular sports betting is to the people of New Jersey. The state as a whole has also benefitted to this as sportsbooks are subject to tax, which means a part of their revenue goes directly to the state to help fund areas such as education, healthcare and even the state’s infrastructure. Pennsylvania is another state that very quickly legalized sports betting after the Supreme Court’s decision and has also seen economic benefits too. The state is also home to many major teams including the Pittsburgh Steelers and Philadelphia Eagles this has helped to contribute to the ongoing interest in sports betting in the state. Illinois also has a fast-growing sports betting market. The size of the state as well as its strong sporting culture being represented by the Chicago Bears and the Chicago Bulls makes it a strong contender when it comes to contributing to the U.S market. Michigan also shows no signs of stopping, particularly as the state has seen a huge amount of growth since it was legalized in the state and has a wide range of mobile sports betting apps on offer. Additionally, Detriot is a huge hub for sports in the state, as well as Michigan is home to the University of Michigan, where college sports are extremely popular. 

The industry is continuing to grow and evolve around the country, there’s still plenty of time before 2030. This means there’s still time for other states who haven’t yet legalized sports betting to contribute. While in California sports betting is still illegal, there has recently been a lot of discussion around it, especially as many other states have shown California just how beneficial it can be to legalize sports betting. Thanks to its love of sports, tech savviness, major professional teams and events and population size, California has the potential to be one of the largest betting markets in the U.S. Especially with the 2028 Olympics set to take place in L.A. Florida is another state that offers potential. Although the state has seen many challenges when it comes to legalizing betting, there has been a recent push for legalization. Again, Florida is a state with a large population and huge sports presence, including being home to the Miami Dolphins and the Tampa Bay Buccaneers. While Texas doesn’t show as much promise as California and Florida when it comes to legalizing sports betting, there still is some hope. If Texas were to legalize sports betting, it would very quickly become a strong contender in the U.S. sports betting market. Texas has a whopping population of around 30 million people as well as a huge public interest in sports and in particular football. 

Factors Influencing Market Growth

Taking a look at the different factors that can influence growth can help to identify the different states that are going to have the most impact on the U.S. betting markets by 2030. While there is no way to know for sure, these factors can help to give a more accurate indication. Considering these factors may even help you to highlight something unexpected too. 

The biggest impact is legislative changes, for some states this is what’s standing in the way of sports enthusiasts being able to place a bet on their favorite team. However, even if a state hasn’t yet legalized sports betting, it could still be a major contender. Especially as many states are now in talks or very close to legalizing sports betting. This has also helped to shift attitudes towards sports betting, which is another contributing factor to market growth. As more people view it as a legitimate activity, participation will rise. Additionally, the rise of sports betting apps has helped the industry grow, making it more secure and accessible to betting enthusiasts. With technology always growing and innovations being introduced such as cryptocurrency that enhances security, this will help to improve user experience, which in turn can attract a wider audience and encourage more fans to get involved.