Analysts Anticipate Limited Legalization of iGaming and Sports Betting in 2023

It is already evident that those who are hoping for additional state-level authorizations of internet gambling sites and sports betting will probably be left disappointed in 2023. Ohio and Massachusetts have recently joined the legal sports wagering market, and Puerto Rico is expected to do the same in the near future. After that, the chances for additional states legalizing sports betting appear to be quite obscure.

Deutsche Bank analyst Carlo Santarelli mentioned in a recent report that “efforts to pass sports betting laws are active and could result in some considerable states legalizing it.” Nonetheless, he noted that the outlook for online casino operators is not great. As it stands now, Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia are the only states that allow online casinos and it is not likely that this list will be extended before the end of the year.

At the start of 2023, it was assumed that North Carolina and Vermont were the most probable states to authorize mobile sports wagering, given their respective populations. However, it appears that Kentucky has now taken the lead, after the state Senate Licensing and Occupations Committee approved House Bill 551. If the bill passes a floor vote in the Senate, it will be up to Governor Andy Beshear (D) to sign it.

In Georgia, attempts to pass sports betting legislation have recently been revived, although it is unlikely that they will succeed. According to Santarelli, if the effort fails, it will most likely set back sports betting in the state.

When it comes to Texas, it is highly unlikely that sports betting bills will pass this year. The state does not require the extra money, since it runs a significant surplus, and Lieutenant Governor Dan Patrick is not in favor of sports betting. Santarelli concluded that the prospects for 2025 are much more realistic than for 2023.