More States Expected to Pass Sports Betting and iGaming Legislation
WASHINGTON D.C. – iDEA Growth, a national trade association for the online sports betting and iGaming industry, released the results of its member survey today. 63% of respondents predict that three to five states will legalize sports betting in 2022, and 58% say that one to two states will legalize iGaming. Respondents, who include online gaming developers, operators and affiliate and payment processing companies say Massachusetts and Kansas are on deck to ring in sports betting in 2022, and that Indiana is the most likely to legalize iGaming by the end of the year.
“The needle has moved considerably in the online gaming industry over the last three years with more than 30 states moving to legalize iGaming and/or sports betting,” said Jeff Ifrah, General Counsel and a founding member of iDEA Growth. “States are starting to see the benefits of those decisions, and we expect much more is on the horizon seeing as two of the biggest markets in the U.S. have yet to open up: California and Texas.”
Additional highlights from the survey:
- As states look to expand into regulated sports betting and iGaming, New Jersey ranked highest among iDEA members as a model of success that legislators and regulators should replicate.
- Timely payouts, protecting against money laundering and organized crime, and self-exclusion options were ranked as the three most important ways legal gaming sites protect consumers (ways that illegal sites do not).
- 47% of respondents said they expect the use of cryptocurrency for U.S.-regulated iGaming / sports betting to be mainstream in more than ten states in 5 years’ time; 32% think it will be sooner.
“As more states evaluate legalization of sports betting, it’s smart public policy to also consider legalizing iGaming. Online gaming enthusiasts across the board – whether they bet on sports, play online poker or other casino games — deserve the consumer protections offered by a regulated industry. It is impossible to stamp out the illegal market by only addressing sports betting,” said John Pappas, who leads iDEA’s legislative advocacy efforts. “States like Michigan, Pennsylvania and New Jersey were smart. They passed sports betting and iGaming together, and are protecting consumers while also benefiting from a windfall in new tax revenues. Thankfully, we are starting to see states like Illinois and Indiana come back to the table.”
About iDEA Growth
iDEA Growth (iDevelopment and Economic Association) is a 501(c)(6) association which seeks to grow jobs and expand the online interactive gaming business in the United States through advocacy and education. We represent all sectors involved in the growing industry of internet gaming and entertainment, including operations, development, technology, marketing, payment processing, and law.