Whilst major sporting events such as football have long been a favorite for millions of fans across the world, online entertainment may be changing the sporting world as we know it with big expansions into the growing world of esports – newer titles shown like this Valorant review have provided a more traditional esports growth, but other opportunities have also been found in replicating traditional sporting games like football and basketball too, and with that the growing support of many other online markets that have typically be regulated for many in the sports betting industry – but what changes could be on the way?
One of the bigger holdouts here has always been with the US, typically sports betting and other measures of gambling are held in the tribal casinos, and these gambling rights in the past have typically been difficult to challenge as there are few opportunities for independent locations to grow or even gain licensing – a recent announcement from Gov. Cuomo of New York however had budgeted online sports betting market for the state whilst also avoiding the typical trap of being confined to a casino environment or ownership – in his statement, he said that the state would be following a similar approach to how different state lottery often worked with the state receiving all of the revenue from taxation of sports betting online as well as granting the licensing and other measures too. It’s has been an important change that may see other states jump on board and pick up legal online sports betting too, but the US hasn’t been the only country to see change here.
Surprisingly to some, Japan may also be hinting at change – whilst gambling in the country is still heavily regulated with the biggest games in the country like Pachinko often able to skirt the rules in a little grey area by not offering any monetary prize on-site, but instead rewarding tokens that can be traded at another location, but online sports betting may be the next target. With experts suggesting the value of an online sports betting option for the two biggest sports of Baseball and Football within the country could value an estimated $65 billion, it’s easy to see why there’s hope for change, and although there are no stipulations to the growing spaces like esports, the rate of growth not only in Japan but around the world could suggest that would be a future target in mind.
For many it’s essential to have this change, given countries like the UK, in particular, have seen hundreds of brick-and-mortar betting locations close in the past year, online options are quickly becoming essential, and changing the regulation to make these sites much more accessible have a huge number of pros that often far outweigh any cons that may be suggested.