Mobile sports betting is where the money’s at

    As more states move to legalize sports betting, the Wall Street Journal reports that states that allow betting on smartphones are reaping the most bang for its buck. States, like Mississippi, which legalized sports betting but prohibited cell phone betting, on the other hand, are not making as much money as expected. 

    After legalizing sports betting last year, New Jersey’s online gamblers account for roughly 80% of all legal wagers in the state, which is neck-in-neck with Nevada to become the nation’s largest sports-betting market. New Jersey surpassed Nevada in monthly sports bets for the first time in May. 

    New Jersey sports gamblers bet $3.2 billion in the first year, with $2.4 billion of those bets stemming from mobile phones and computers, according to state data.

    Currently, 12 states allow sports betting, with online or mobile gambling in five of them: New Jersey, Pennsylvania, West Virginia, Iowa and Nevada. Four states limit betting to physical locations. The remaining three states have OK’d mobile betting but haven’t launched yefforts to pass sports betting in Louisiana failed last session

    Pursuant to a Supreme Court ruling, each state can set up its own betting system, but bets across state lines aren’t allowed. “Geofencing” is used with mobile app betters to keep bets within a state’s borders.

    Read the full WSJ report. 

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