When Will Online Sports Betting Be Legal in Wisconsin?

In early April, the Wisconsin state legislature passed Act 109, which became effective on April 2, 2019. The new law legalizes and regulates online sports betting and digital currencies like Bitcoin. For the most part, the bill was generally well-received by the public; however, there were some unexpected consequences that the state has had to face since the law went into effect. Here, we will discuss some of those consequences along with when and where online betting in Wisconsin will be legal.

Tremendous Growth In Just 3 Months

Since the law changed in April, the number of licensed establishments that are offering sports betting in Wisconsin has doubled from four to eight. Additionally, the state’s gaming revenue has grown from $22.6 million in April 2019 to more than $29.4 million as of June 30, 2019. This is an incredibly positive sign for the state’s gaming industry, which has been struggling for years with many illegal sports books and casinos.

New York, Nevada, And Washington State Are The Most Progressive States

Act 109 is one of the more progressive online gambling laws that have been implemented in recent years. It will be interesting to see how other states respond to the legal sports betting in Wisconsin because, as of right now, the most lucrative markets for online gambling are in New York, Nevada, and Washington State. If other states want to follow Wisconsin’s lead, they will have to either implement similar legislation or allow for a more open market because these three states are the big players when it comes to sports betting in the United States. At this point, New York (withstood a Republican-led attack on its law in 2018), Nevada, and Washington State have all legalized sports betting, and all three states have seen their tax revenue increase as a result of the new legislation. As of right now, it seems like Wisconsin embraced the change with both hands and is benefiting from it very well.

A Potential Blow To Local Economies

One of the main concerns that the state had to address with Act 109 was the impact that it would have on local economies. The argument against online gambling is that, since it is a remote activity that takes place mostly within the digital sphere, it has the potential to hurt the social fabric of communities. What is more, some individuals fear that organized crime will flock to the state to prey on the legal sports betting industry. While these are legitimate concerns, the numbers don’t entirely back up these claims.

According to Howard Stutz, the executive director of the Wisconsin Manufacturers and Commerce, the state’s gaming industry is providing significant economic benefits to Wisconsinites. He notes that there are currently over 23,900 jobs within the state’s gaming industry, and that the industry contributes over $26.8 billion in economic activity each year. Additionally, Stutz asserts that the industry provides significant financial benefits to residents through taxation and licensing fees, along with creating new opportunities for people to get involved in the workforce.

The state’s gaming industry is also largely comprised of small and medium-sized businesses. This type of industry tends to have a positive effect on local economies, providing both temporary and permanent jobs. The bill’s proponents also stress that, since the industry is regulated, it will help to keep organized crime at bay. It is also important to note that all of the states that we’ve mentioned so far have relatively small gaming industries compared to the rest of the country. If Wisconsin wants to keep up with the Joneses when it comes to offering online sports betting and digital currencies, it will have to attract more gamblers and businesses to the state. For now, it seems that the benefits of online gambling in Wisconsin outweigh these concerns.

When Will Online Sports Betting Be Legal In All Of Wisconsin?

In the near future, online sports betting in all of Wisconsin is expected to become legal. As of right now, the law is scheduled to go into effect for the state’s racetracks and casinos on October 1, 2021. This will make Wisconsin the second state in the country (after New York) to implement this kind of industry. However, because the state’s gaming industry is still relatively new to the trendiest gambling activities, there are a few things that they have to get right before opening the floodgates to online sports betting.

First, the industry will have to apply for and be granted a state license from the Wisconsin Department of Gaming. Second, all of the state’s 42 racetracks and casinos will need to be updated with the latest technology to accept bets and provide quick cashouts to customers. Third, the state’s sportsbooks will need to be connected to the internet, ensuring that gamblers have fast and reliable access to information about their games and the ability to deposit and cashout funds. Finally, the state will have to set up a way for gamblers to get their winnings because, as we’ve learned, when it comes to online gambling, cash is king.

While these are all legitimate concerns, the positive effects of online gambling in Wisconsin will far outweigh any issues that the industry may face. The state’s gaming industry is on the right track to embracing the future of gambling and changing the way that people think about wagering. As long as they can tackle these five points correctly, online betting in all of Wisconsin will be a blessing and not a curse.