States betting on sports revenue

States betting on sports revenue

This Sept. 9, 2018 photo shows fans of the New York Giants and Jets watching a football game after placing bets in the sports betting lounge at the Ocean Casino Resort in Atlantic City, N.J. Despite a push from lawmakers favoring it, New York state is unlikely to offer mobile sports betting anytime soon, leaving much of the populous New York metropolitan region to New Jersey and Pennsylvania sports books. (AP Photo/Wayne Parry)

ATLANTIC CITY, N.J. (AP) — States around the country are realizing that future of sports betting — and tax money to be made from it — is online. But they’re also realizing that that extra tax money isn’t nearly enough to balance state budgets. Currently, 15 states plus Washington, D.C., offer mobile sports betting, and several others are considering adopting it. More than 80% of sports betting in the U.S. is done via smartphone or computer. New York stands to become one of the largest markets once it gets mobile betting up and running, perhaps next year.

Photo: This Sept. 9, 2018 photo shows fans of the New York Giants and Jets watching a football game after placing bets in the sports betting lounge at the Ocean Casino Resort in Atlantic City, N.J. Despite a push from lawmakers favoring it, New York state is unlikely to offer mobile sports betting anytime soon, leaving much of the populous New York metropolitan region to New Jersey and Pennsylvania sports books. (AP Photo/Wayne Parry)