New York & Iowa’s sports betting totals further lays down the foundation for a need for unrestricted online gambling. The limitations for online capability is making an impact on the revenues generated in these states. Arguments are being made that with these various limitations, it is basically putting ‘handcuffs’ on the entire industry.
Iowa does have online gambling, however the requirements are that a person must register in person to have any online access. New York also has strict regulations on online sports betting and due it’s close proximity to New Jersey, it’s an issue. Experts reveal that those restrictions aren’t present in New Jersey so New York loses a lot of revenue to New Jersey.
Advocates in New York that have been fighting for years for sports betting, say there must be change. They say ‘either you allow sports betting or you don’t. Online gambling is what will capture most of the wagers going forward, so with restrictions on that, it makes no sense.’
The States That Don’t Have Full Access To Online Sports Betting Will Lose Revenue
The states that impose limitations on online sports betting, will not be able to capture their full capability as far as revenues go. Iowa had a handle of $59.3 million for November, which is impressive and up by almost 28% from October. The growth in Iowa from October to November is at the core of several arguments now taking place there.
PointsBet unveiled mobile platforms at the end of November at two casinos. That brought in a measly $26,000, which some say is due in part to the restrictions imposed on online gambling in Iowa. IGT another sports betting platform designed and operates it’s sports betting brought in $300,000 last month in Iowa. The mobile sports wagers in Iowa grew by almost 30% from November to $37.7 million, was about 57% of the total wagers in the state. The numbers are even with October and down from September.
Sports betting analysts are saying that the numbers are low for an exploding industry in the middle of the NFL season. Those games brings in huge amounts of wagers say experts, so the number are low they say.
Experts Say They Hurdles People Must Go Through Is Affection Overall Revenues
Granted the sports betting industry is still new by comparison to overall gambling, so there are issues that must still be ironed out. However, the obvious issue in this day and age argue experts, are accessibility and convenience. Everything is at a person’s fingertips at all times, if making a bet online, is not accessible instantly, it’s going to continue to suffer.’
The currently in Iowa is that in order to be able to have any online capability a person must register in person at a casino. Some people just will never do that say expert, some people don’t have cars or they don’t want to go to a casino for a variety of reasons. Making the process difficult and inconvenient is not a recipe for added revenue the experts say. Rhode Island has the same requirements, and the gaming commission in Rhode Island had an interesting revelation.
They said only half of the people that started the process of registering, completed the entire process. So over 50% of the people that started failed to finish the process and can’t place bets online. That’s a lot of lost revenue, and changes must be made so that the losses stop.