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Gaming

SUPER BOWL TO GENERATE $1 BILLION IN LEGAL BETS

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(LAS VEGAS) — Bettors could place $1 billion usd in wagers on Super Bowl LVI at legal online and retail sportsbooks across the country, according to projections by PlayUSA, which provides news and analysis of the U.S. gaming industry. If sportsbooks reach those estimates it would roughly double last year’s estimated Super Bowl handle of more than $500 million, a product of the continued proliferation of legal sports betting.

NFL Bets, 2022 Pro Bowl NFL Betting Lines | Vegas Super Bowl Odds NFL

“It would have seemed impossible just a few years ago to reach such heights, but with the expansion of sports betting over the last year it is inevitable that legal wagering will soar.”

https://www.thesilo.ca/wp-content/uploads/2022/02/Super-Bowl-fact-sheet-2022.pdf

The Super Bowl is the most-wagered-on single sporting event in the U.S. In 2021, the American Gaming Association estimated that Americans & North Americans bet $4.3 billion usd on Super Bowl LV, both legally and illegally. PlayUSA estimates that more than $500 million usd was wagered at legal online or retail sportsbooks for last year’s game between the Kansas City Chiefs and the Tampa Bay Buccaneers, still a small chunk of the more than $50 billion usd in legal wagers placed across the country throughout 2021.

When the Los Angeles Rams and Cincinnati Bengals meet for the Super Bowl on Feb. 13, sports betting in some form will be legal in 30 states and Washington D.C. Those jurisdictions represent more than 166.9 million people, according to the U.S. Census Bureau estimates for 2021. By contrast, 120 million people lived in 21 legal sports betting jurisdictions for last year’s Super Bowl.

For this year’s game:

  • Sports betting is legal in at least some form in Arizona, Arkansas, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Virginia, Washington, Washington D.C., West Virginia, Wisconsin, and Wyoming.
  • New York, which was limited to retail sportsbooks last year, launched online betting in early January. New York is already on pace to shatter the U.S. record for monthly handle, which New Jersey set in October with $1.3 billion usd in bets.
  • Arizona, Connecticut, Louisiana, Maryland, North Carolina, North Dakota, South Dakota, Washington, Wisconsin, and Wyoming did not offer any form of legal sports betting for last year’s Super Bowl.
  • Even with legal sports betting in 30 states and Washington, D.C., no team from a state with legal sportsbooks has ever played in the Super Bowl. That will continue this year as Ohio awaits launch sometime over the next year and California lawmakers debate legalization.

“The sports betting landscape has changed dramatically since last year’s game,” said Eric Ramsey, data analyst for PlayUSA. “More than half of all Americans now live in a legal jurisdiction, and even well-established markets such as New Jersey and Nevada have grown significantly over the last year as mobile betting gains in popularity.”

PlayUSA projects that Nevada, which was the second-largest market in 2021 and historically the top Super Bowl market, will produce the largest Super Bowl handle with $175 million usd. New York could generate $160 million usd. If those estimates come to fruition, that would be more betting volume than every legal sportsbook in the U.S. combined to tally for the 2019 game.

New Jersey ($130 million usd), Illinois ($75 million usd), Pennsylvania ($70 million usd), Arizona ($55 million usd), Michigan ($45 million usd), Indiana ($40 million usd), Colorado ($35 million usd) Louisiana ($35 million usd), Virginia ($35 million usd), and Tennessee ($30 million usd) will follow Nevada and New York, according to PlayUSA estimates.

“Americans & North Americans have become increasingly comfortable with online betting in general and the less conventional bets it facilitates, such as in-game wagering,” Ramsey said. “This should really help boost Super Bowl betting, which for years has enticed bettors with fun prop bets and other unconventional wagers. The big difference this year is those types of bets are easier than ever to make in more places than ever before.” For The Silo, Zack Hall.

Gaming

Legalized Sports Betting Is A New Job Market In The USA

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A few years ago, on May 14, 2018, the Supreme Court decided to back New Jersey’s bid, allowing any state in the US to legalize sports betting. The Supreme Court overthrew PASPA – Professional and Amateur Sports Protection Act of 1992 –  a law that was supposed to define the legal status of sports betting throughout the States.

However, PASPA didn’t ban sports gambling, it just didn’t permit the states to allow it. Passing the law ultimately resulted in creating an underground virtual monopoly over a multi-billion dollar industry.

Strong Case Against PASPA

The infographic below points out some facts regarding the illegal cash flow in the betting industry before the overturn of PASPA. As it turns out, the government of the state of New Jersey presented a strong case against PASPA, and it seems that participants of the hearings were worried that the law would restrain the States’ rights to raise revenue.

The American Gaming Association estimated that American citizens illegally wager more than $150 billion each year on sports betting. Until PASPA was struck down, Nevada was one of the only four states that permitted sports betting (Delaware, Oregon, and Montana also had an immunity). However, Nevada’s legally wagered money covered up for only a small portion of the total sum wagered on betting activities throughout the States (less than 4%).

Before PASPA was abolished, the Congress had the rights to mandate the forms that intrastate commerce states may regulate. However, by doing so, they didn’t manage to eliminate the sports betting market. They’ve just driven it underground.

New Beginnings Will Bring New Changes

On July 31st, 2018 ,Adam Silver, commissioner of the NBA, has teamed up with MGM, creating the first partnership between a major sports organization in the US and a gambling operator. The goal of this historic partnership is to preserve the integrity of the game and spread the global presence of the NBA.

MGM’s partnership with the NBA is only the next logical step in the development of this potentially booming industry. The process of accepting betting as a part of sports culture in the United States has begun.

The Cash Flow in Gambling is Tremendous

According to Oxford Economics, there is a lot going on under the table. Apparently, the numbers from the report project that the legalization of sports betting could increase the US annual GDP up to $40 billion.

Also, legalizing sports can help the US economy to keep the money within the States and help prevent domestic casinos to go bankrupt. Moreover, the newly-formed legal gambling system could create employment opportunities for more than 125,000 people.

When all of this is said and done, a typical worker in a reformed sports betting industry would have an average salary of approximately $48,000. In fact, this is only the beginning of economic benefits coming from legalized gambling in the US. Advances and technological innovations in online betting services will also have a strong impact on the economy.

A Bond Between Technology and Gambling

The United Kingdom has been the world’s leading online sports gambling market for many years now. UK mobile industry currently covers around 60% of the country’s sports betting market. The UK gambling market should serve as a blueprint for the future of sports betting in the US because mobile betting via smartphone apps would bring billions of dollars worth of revenue.

It is a known fact that technological developments make sports gambling far more entertaining. It’s much easier to place a bet for NBA Primetime Saturday game from your favorite recliner than having to drive to the casino at last minute.

It is only a matter of time before the mobile betting market in the US becomes the world’s largest. This somewhat bold statement doesn’t come as a shock if we take into consideration the potential influence of US powerhouse economy on the expansion of mobile betting industry.

To sum it all up, legalized sports betting in the US is a huge win for the US tax revenue, employment, and the entertainment business. Take a look at the nifty infographic below courtesy of our friends at NJ Games. For the Silo, Onur Unlu. 

Economic Impact of US Sports Betting NJ Games

Gaming

Best Online Casino In Canada Where Gamblers Win Real Money

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Canadians respect the law. Those, who like gambling, do it as well. As soon as land casinos in this country are legal, they feel free playing in various gambling clubs placed in different provinces. Nevertheless, it is much more convenient for many players to stay at home and use the pros of casinos that work online.

However, as the situation with online gambling business legality is still vague, not to take any risks of breaking laws, Canadians prefer to play in their casinos that have licenses and use playing sites that welcome them and let win real money. Baocasino Canada is exactly this new reliable resource.

Legal online casino Сanada for real money

Canada is inherently a country that offers its residents and guests a huge selection of diverse entertainment options and a pleasant pastime. Among such options, a special place is occupied by numerous casinos and gambling houses.

Besides, Canadians take care of those people, who want to gamble online. Numerous advantages are offered to them here. When they choose Baocasino, they can use all the advantages of this gambling site, including earning crypto, taking part in tournaments and getting the best prizes in Bao way quest.

No taxes for players

Canada is a real paradise for those players, who win real money in online casinos regularly. If in other countries, especially in the USA, the closest to Canada neighbor, gambling tax in some states can reach 50%, here the situation is different.

However, there is one “but” even here. Yes, in Canada, there is no tax on winnings, but if Poker is a person’s main source of income, then he, as an individual, must pay income tax, the amount of which is directly proportional to the income for one year.

Progressive tax rates applied at the federal level:

Taxable Income – Rate:

  1. Up to $ 42.707 – 15%;
  2. From $ 42,707 to $ 85,414 – 22%;
  3. From $ 85,414 to $ 132 406 – 26%;
  4. From the sum more than $ 132,406 – 29%.

However, even in this case, the taxes in Canada are lower than in many countries (taxes in the gambling sphere, for sure). Canadian residents, who gamble in the casinos with licenses of other countries, should also follow these laws. Baocasino, with its license from Curacao, being a legal playing site, respects the laws, and follows them.

Bonuses for gamblers

Playing in the best online legal casinos in Canada, gamblers can claim a variety of bonuses, and get them, withdrawing money following wagering requirements. Those, who register in Baocasino for gambling, not for fun, can also get these bonuses.

Before claiming them, it is recommended to read about the Bonus policy of the casino. In brief, it is as follows:

  1. When a gambler starts playing in Bao with an additional bonus that is over 20 free spins and 100% deposit bonus, this bonus will be added to the first made deposit;
  2. Wagering bonus, the player cannot make the bet over 5 USD or 7, 7 CAD;
  3. Withdrawing money that is won thanks to bonuses usage, the rules works — the maximum withdrawal here is 80 CAD or 50 USD;
  4. Using bonuses, Canadian players must not use any strategies when gambling. If Baocasino finds out that the strategies were used, the win is terminated.

Exciting adventures also offered as prizes

If winning money isn’t amazing enough then take a look at Baocasino’s prize pool: it includes exclusive adventures such as this month’s Chernobyl Tournament. The First place winner is in for a unforgettable trip of a lifetime.

The variety of games

Baocasino that offers its registered players from Canada the variety of games that can be found in other gambling resources, but here, players have a chance to earn Bitcoin and some alternative cryptocurrencies like Litecoin, Ethereum, Dogecoin, and Bitcoin Cash.

They can do it when choosing crypto as the main currency for gambling or playing special crypto games, which are available in this casino. If a player wins in cryptocurrency, he can withdraw his win instantly.

Baocasino is the best choice for those Canadians, who are seeking for a reliable and legal online casino with a number of cool games, bonuses and interesting promotions. After registration, all these pros become available to a new user. For the Silo, Ella Wilson.