Election Day Proves Very Positive for Legal Sports Betting

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The 2020 Presidential Election has yet to be resolved, but there were other things on the ballots throughout the country on Tuesday. Several states had some sort of legal sports betting or gambling initiative, and it is clear what Americans think of each industry.

Six different states had a gambling referendum on the ballot, and all six states saw massive support. Both political parties recognize the importance of the gambling industry and were looking to capitalize on the revenue that it brings in.dkcrowngrey

Some states were simply looking to expand gambling laws in the state, while others were looking to pass a constitutional amendment to legalize an industry. There was optimism in each state of an affirmative vote, but the results on Tuesday night were much better than expected. 

Americans Turning to Election Odds

The growth and popularity of the gambling and sports betting industry was extremely evident on election night. American citizens kept a close eye on the Presidential election odds, and those were a source of understanding and handicapping the race.

Political betting is illegal in the United States, but it is extremely popular in other parts of the world. Sportsbooks and bookmakers in the UK have been taking bets for almost a year, and the odds were swinging back and forth on Tuesday night. 

While most Americans waited for votes to be counted in the United States, it was interesting to watch the odds go back and forth. President Donald Trump was even a big favorite at one point, but he is once again a major underdog heading into the weekend. 

Maryland Set to Launch Soon

Maryland was one of the states with a sports betting referendum on the ballot as it would require a new constitutional amendment. Lawmakers had the basics of a sports betting law in place, but it was up to the voters to give their final approval.Baltimore Ravens

The ballot referendum asked residents to vote yes or no, and it did not include any real specifics. Voters easily agreed to legalize sports betting in the state, and now the lawmakers must work quickly to come up with regulations to guide the industry.

It’s unclear how quickly this can happen but look for sports betting to launch early in 2021. 

No States See a Defeat

Six states had a sports betting or gambling referendum on the ballot, and all six of them won comfortably. It just speaks to the popularity and importance of each industry, despite the political party.

In Louisiana, 55 of 64 parishes voted to legalize sports betting, and that industry can now be launched as early as next year. Four cities in Virginia were voting to approve a new casino project in 2021, and all four cities easily passed the referendum.

The success of all six states will likely encourage other states to explore expanding gambling in the coming years as the citizens are clearly in support of it.