Sports Then and Now

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With several popular crypto bookmakers like 1xbit, BetcoinSports, CloudBet, SportsBet.io, and Pinnacle leading this new generation of cryptocurrency revolution in the sports department, the future of online gambling looks promising.

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Type of Cryptocurrencies used in Sports Betting

In the world of crypto sports betting, Bitcoin is used most frequently. It still remains the number one option for most players and has been used for several years. It serves as the ‘reserve currency’ among all other crypto coins present out there in the market. Moreover, it is the most recognised cryptocurrency in the market right now and has been around for the longest period of time, hence most sportsbooks accept the currency without any hassles.

Do you prefer watching sports on Televisions or on streaming services? Chances are you belong to the majority of people who have opted out expensive cable subscriptions for cheaper streaming services which can be viewed on multiple devices. As ratings are decreasing and the cost of acquiring rights are increasing, it seems evident that the sports television industry is plummeting into a hopeless abyss. Is it really? Thanks to the Supreme Court, a 26-year-old federal law which prohibited sports betting in the United States have been scraped off which has infused a fresh air of optimism in the big media companies. With the new law in place, experts believe that it will boost the televised sports industry in a couple of years as sports betting gets legalised in most of the states.

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In the course of less than a year, the world of sports betting in the USA has changed exponentially. Where once, betting on sports on websites like Caesars Casino and sports was illegal, now across the USA, more and more states are allowing people to wager on their favorite teams. Today, we’re looking at sports betting then and now, to see just how far things have come…

Then:

Before last May, sports betting was outlawed across the USA as a result of the Professional and Amateur Sports Protection Act (PASPA) of 1992, a federal act which saw sports betting outlawed for almost two decades. This law was introduced in a bid to preserve the integrity of the sport. Nevada was an exception to that rule, as sports betting laws were already in place. Additionally, sports betting was possible in Delaware, Montana, Nevada and Oregon, where they had pre-existing sports betting frameworks and sports lotteries already in place. Despite the ban, it is estimated that around $150 billion was spent in illegal wagers on the Black Market every year in the United States on both professional and amateur sports betting. That’s more than the GDP of Nebraska! Back then, if you wanted to place a legal wager on the Super Bowl or March Madness, you’d have to hop on a flight to Las Vegas…or risk the consequences of placing a bet with an illegal bookie.