Anyone who bets with a legal and regulated NJ online betting site or mobile app would be lying if they didn’t say that there were a wealth of betting markets from which to choose. All of the leading online sports betting sites offer a rich menu of opportunity when it comes to wagering on a variety of games that people play.
That being said, it must also be added that there are areas in which the US market is lacking in comparison to other markets such as the UK and even Canada. And there are also certain sports in which significant restrictions are placed upon when, what and where you can bet.
Let’s take a look at some of those areas and how they might be changing the US betting landscape in the not too distant future.
Political Betting
Wagering on elections is hugely popular in other jurisdictions. In the UK, for example, some $300 million US was bet on the 2020 US Presidential election between Joe Biden and Donald Trump. In NJ, however, you can’t bet on the political outcome. Why? Ask yourself!
Canada, which only launched legal and regulated online betting in 2022, is also offering political betting. However, it’s completely prohibited in the US market.
Prior to the 2020 election, West Virginia online sportsbooks very briefly were listing odds on the outcome. However, those betting lines disappeared almost as quickly as they’d shown up.
The Commodities and Futures Trading Commission (CFTC), a financial regulator, prohibits betting on elections in the US. This ruling was challenged by Kalshi, a New York-based prediction market for trading events.
When the CFTC denied Kalshi’s bid, the company filed suit against the CFTC. A court ruling on the matter is expected in the next few months, offering the possibility for significant change to the political betting landscape in the US market.
Horse Racing
What’s that you say? Horse racing is already legal to bet on in the USA. Well, yes and no.
You can wager on the sport of kings at the track or through advanced deposit wagering via NJbets and Amwager. And it is all pari-mutuel wagering, meaning you get the price on the horse when the race goes off, not what it was when you placed your bet.
You can’t bet on horse racing in NJ through a legal and regulated online sportsbook. You can, though, in the UK, where it is massively prevalent. A recent partnership between Bet365 NJ and Woodbine Racetrack has made it possible to wager on horse racing in Ontario, Canada at Bet365.
Bet365 also recently fashioned a deal with 1/ST Technology to offer an ADW option in the US. It could be the first step toward Bet365 eventually offering fixed odds horse racing wagering in the USA on their sportsbook app.
Entertainment
Want to bet on the Oscars, the Grammys or the Emmys? While you might be able to, depending upon where you live.
Currently, among the 38 states offering legal and regulated sports betting, only New Jersey, Massachusetts, Michigan, Indiana, Arizona, Kansas and Louisiana offer betting lines on entertainment events.
There’s definitely room for growth here.
College Sports
There are significant betting opportunities on college sports in the US market, albeit with caveats attached in many states. Plenty of room for expansion exists in this instance.
There are 15 states that permit full college sports betting, including player props. Five states allow full wagering on college sports game outcomes, but don’t allow player props. Nine states will let you bet on college sports, except for games played in state, or involving in-state schools. Oregon completely prohibits betting on college sports.
The NCAA is fighting the sportsbooks over the issue of player prop wagering. They’ve launched a program to help educate student athletes on the effects of sports betting.
Esports
Even with esports blossoming as a major player on the sporting landscape, betting sites still seem reluctant to go all-in when it comes to offering wagering on esports.
Only Nevada and New Jersey offer 100% legal esports betting. You can also bet on esports in Arkansas, Delaware, Illinois, Iowa, Mississippi, Montana, New Mexico, New York, Oregon, Pennsylvania, Rhode Island, and Washington DC.
You’ll find that the bet types offered on esports are very limited in the case of most of these states. This is another sport offering exponential potential for growth in the markets and lines provided.
