Washington State Legalizes Sports Gambling- A Use Case and Catalyst for the Cryptocurrency Gambling
In the news, the Senate has passed a bill that allows for sports betting on major league games on tribal casino floors. The bill does not allow for betting outside of major league games, does not allow online sports betting off premises and will be fully implemented in about a year. This development is a long time in the making, and is a use case and catalyst for the increasing online cryptocurrency sports-betting marketplace.
Washington has been late to the game when it comes to online gambling. The sports betting marketcap is expected to reach $8 billion in annual revenue by 2025, and developments in states that have resisted legalizing sports betting only add fuel to the industry. The use of online casinos is flourishing, and the total online gambling revenue is predicted to hit $94 billion before 2025.
Cryptocurrency is a facilitator of many online casinos and sports-betting platforms, and this bill has opened the first door to online gambling that is being further supported by cryptocurrency platforms.
The Tron Network, Scorum betting platform and many more electronic betting sites are overshadowing tradition sports-betting locations. It is evident that the future of gambling is truly online. On-chain cryptocurrency betting is probably fair and recorded on the blockchain. The appeal of these trustless systems with demonstrable outcomes gives cryptocurrency casinos a big leg up on the competition, and a chance at a sizable slice of the $94 billion market cap.
Users of large established cryptocurrency betting platforms including Sportsbet.io and Betcoin can testify to the usability and trustworthiness of these evolving platforms. The establishment of Washington's tribal casino betting environment will cross-pollinate to the online world. Washington is an affluent state, with an average household income of over $68,000 per year in King County. Washington is also home to Amazon and Microsoft, and is a bulwark of the tech industry. Those who are interested in cryptocurrency adoption will see the appeal in online casinos where it is legalized.
Originally published in my Publish0x account I own at:
Also published in my Steemit account I own at Cryptoedify.
Picture from Pixabay.