The race to legalize sports betting is on now that the U.S. Supreme Court has allowed it in all 50 states, but will it provide enough extra tax revenue to make much of a difference for schools, roads or pension debt?
Some experts say don’t bet on it. Even though the market is still developing, the returns to date have been modest.
In Nevada, revenue from sports betting has accounted for roughly one half of 1 percent of the entire state budget.
Delaware, Mississippi, New Jersey, Pennsylvania, Rhode Island and West Virginia legalized sports betting last year after the Supreme Court decision, as did the District of Columbia. Lawmakers in Kentucky, Missouri, Ohio, Tennessee and Virginia already have filed bills to allow sports betting, and those who track the industry expect a total of 30 states to consider similar ones this year.
So we are back to the original question: Just how successful can Mississippi sportsbooks become without mobile/online sports betting?
Look no further than the Garden State to understand where the future of legal sports betting will go.
Last month in New Jersey sports betting, bettors placed about two-thirds all wagers via mobile/online apps.
State regulators still hold the keys to that kingdom, though. It will be interesting to see where Mississippi goes in 2019.