According to the most recent expert assessments, the expansion of online sports betting in the United States is slowing. Numerous legalized online sportsbooks in the United States are encountering political and legislative obstacles.
The lead senior analyst at Deutsche Bank, Carlo Santarelli, wrote about this trend in a recent report. Based on DraftKings, one of the most popular USA sports betting sites, the report shows how unfavorable the sports betting conditions are in the US.
It also explores the rigid political environment across the States. Carlo has also predicted a significant slowdown in the US adopting upcoming sports betting regulations. A major reason behind this expected slowdown is the increasing negative factors that hinder progress.
The investment advice platform TipRanks recognizes Carlo as one of the top 100 analysts in the world based on his astounding 64% success rate. Carlo is a prominent expert in the gambling and services industries, with years of experience and in-depth observations. Thus, the latest report carries considerable weight in the market.
DraftKings experienced an amazing period in 2022, scoring over 2.2 billion dollars in revenue. Marking a staggering 73% yearly increase, the operator was expected to yield a better rating by Carlo. However, the analyst argued that the emerging outside pressures would severely affect DraftKings’ expansion rate.
The report has explored multiple states for online sports betting legalization. It delves into the political situation and the chances of significant expansion in 2023. Some regulators are actively trying to curate a legal framework for the industry. However, the progress is significantly limited and lacks political support.
Most online sportsbooks want to be in Texas, but to do so, operators must first get public support. This can take a minimum of two to three years, with North Carolina and Georgia sharing similar fates.
Carlo believes that the year will be leaner on USA expansion chances compared to 2022. Most states still lack the progress and momentum to make giant legislative strides. This tendency will prove fatal in the coming months.
