The Latest News on Sports Betting in America

As the effects of COVID19 start to diminish, people are starting to show more interest in their favorite activities. For sports bettors, that would include being able to bet on sports.

Currently, twenty-seven states have at least passed sports betting legislation. A lot of those states already allow in-state bookmakers to accept bets while the other states are still hammering out details related to how the government wants to control the state's gambling activities.

Every week, there is a lot of interesting breaking news related to sports betting in the U.S. Here's a rundown on the biggest stories of this past week.

Ohio Sports Betting Bill is Delayed

Ohio sports bettors were hoping that the state legislature would move forward with a sports betting bill so Ohio sports bettors could see action by the end of the year if not by the start of the 2021 NFL season. Those hopes have been dashed.

After House Bill 29 was marked for changes and subsequently passed by the Senate by unanimous consent, House Speaker Bob Cupp decided he won't put the bill back before the House until the end of the House's summer break.

It looks like Ohio sports bettors will be fortunate if they are able to legally place wagers by the time the 2022 Super Bowl rolls around.

Sports Illustrated Investing in the U.S. Sports betting Market

While it seems to make perfect sense that Sports Illustrated would become involved in the U.S. sports betting market, it does come as a surprise to many experts in the U.S. gambling industry.

Sports Illustrated's parent company, Authentic Brands Group (ABG), has announced the striking of a 20-year online gambling joint venture with European gambling behemoth 888 Holdings. While carrying the SI brand to market, 888 Holdings is prepared to open its first U.S. SI Sportsbook in Colorado. They also plan to follow that up with similar launches in states like Indiana, Iowa, and New Jersey.

According to the terms of the deal, ABG has acquired a 4.99% stake in 888 Holding with the option to make further investments in the future.

Awaiting News on Sports Betting in New York

The possibility of online sports betting in New York has had local sports bettors sitting on the edges of their seats. They have been patiently waiting for news out of the state legislature regarding the rules that will be set forth to govern sports betting in the state.

While all has been quiet on the New York sports betting front, word is expected at any time. Here is what we know about the legislation that is currently awaiting approval.

The sports betting business is scheduled to be split between two yet-to-be-named online bookmakers. Those two sports betting providers will be in charge of up to a total of four different online sports betting websites. Operators will share 50% of the sports betting revenues with the state and be responsible for paying a 12% tax on their share.