Sports betting around the world is exploding into new markets.

  • Sports betting was legalized in the United States in the last two years.
  • Some sports betting markets are still developing around the world.
  • Certain countries have had established sports betting markets for years now.

LAS VEGAS – The United States is not the only country with developing sports betting markets. There are many different countries creating regulations for sports betting.

Sports Betting Developing In The United States

In the United States, sports betting is only possible through the repeal of the Professional and Amateur Sports Protection Act (PASPA). Ever since PASPA was repealed in mid-2018, states have begun legalizing sports betting.

Currently, there are 13 states with legal and active sports betting. Four more states, including Washington D.C., have legalized and will join the market in the future. In 2020, multiple state legislatures are looking to legal sports betting.

For example, Georgia is looking into three different options to legalize sports betting. Not just Georgia. Florida has filed three bills that could legalize sports betting in 2020. That is how sports betting developing right now in the US. But what about the rest of the world?

Sports Betting Around The World

The federal government in Italy is looking to gain control of online sports betting. The government is looking to restrict who can participate in the online market in Italy. This will restrict online sports betting in Italy.

The restriction is not only happening in Italy. Argentina also has incoming restrictions. The Central Bank of Argentina has set abroad credit card limits. Abroad credit card limits will be capped at around $50. This includes services like PayPal. This will severely limit the ability of Argentina bettors to bet on sports.

China has also set some further restrictions too. Macau gambling regulator has set up new supervision for casino operators. This is despite the fact that the market is not growing in the area.

But it is not all gloom around the world. The Philippines are looking to implement new sports betting laws to legalize sports betting. A bill was introduced that would introduce a five percent tax on operators’ gross revenue. However, foreigners visiting will be subjected to a 15% tax on gambling costs. This will allow the Philippines to collect more money from gambling to help further develop the country.

As shown, sports betting is developing all over the world. Some countries are looking to increase the availability of sportsbooks. Other countries are looking to restrict access. Similar developments are sure to happen over the next few years.

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