Sports betting to become legal in the USA

16 May 2018

PASPAThe recent repeal of the PASPA framework, has already caused substantial increase in the share values of many well-known companies in the industry. The Professional and Amateur Sports Protection Act of 1992 was defining the legal (or not) status of sports betting and gambling in the United States, with most States being considered illegal to bet in. Brands such as  Scientific Games, MGM, Caesars Entertainment, and Unikrn have already put out press releases describing their excitement about this positive regulation change in the betting sector. A very representative example of the financial boost the new legislation change has impacted is Scientific Games. The popular operator saw their shares go up 15% just 1 day after PASPA was called off.

CEO of Scientific Games Matt Davey did not neglect to emphasize the tremendously positive impact the new legislation is going to bring to the US betting industry in terms of both company revenue as well as player freedom. Mr Davey recognized that the restriction and limitations of the USA betting market up until now forced players to resort to often non-secure and unregulated ways to keep themselves entertained through betting and gambling. The new ruling will present bettors with a much larger variety in legal sportsbook operators to choose from.

MGM Resorts International quickly notified their investors of their intention to collaborate with regulatory boards and open up the market fast. They also mentioned their long preparations for this change in order to better position themselves in the new market conditions. Mark Frissora, Caesars Entertainment President and CEO highlighted what a radical improvement the new ruling is going to bring to a market that was tormented by illegal betting at large.

While big operators are going to benefit a lot from the PASPA recall, smaller brands such as Unikrn are bound to see great profits as well. The eSports wagering company has been very active and successful in a plethora of regulated international markets, and has been preparing for this change for quite some time.

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