Some States Kick Off NFL Betting for the First Time
One reason for the increased projections from the AGA is that three states will kick off the NFL season with legal sports betting for the first time. Maine, North Carolina, and Vermont have all legalized sports betting within the last year, but launched the industry after the season had begun. Considering how much money is wagered on the NFL alone, having all 17 weeks plus the playoffs to bet on will lead to a significant spike in revenue.
D.C. Market Thriving Since Expansion
Another reason is that Washington, D.C.'s sports betting market has received a massive upgrade. The District ditched the failing GamebetDC app in favor of outside operators, leading to a massive increase in wagers. It started with FanDuel and has now opened the market to other operators.
While the District represents one of the smaller markets in the country, their increased revenue will account for part of the expected spike in wagers this NFL season.
Where Will Bovada Customers Go?
One of the biggest questions for the NFL betting season revolves around Bovada. The offshore sportsbook has thrived in the US’s grey market, but that has ended over the last year. Several states have demanded Bovada exit their markets, and the operator has complied.
Bovada’s decision to abandon those markets means their customers will be without a sportsbook for the NFL season. The question is how many will move to regulated sportsbooks and how many will look for other offshore options.
While offshore sportsbooks carry far more risk, they also offer bettors tax-free betting. That may lead many to look at other grey market options, costing the states additional tax revenue.
