Following a successful September launch, Wyoming became one of the latest states to offer a regulated sports betting market to those within state lines. Yet, while Wyoming is the least populous state in the country, it is catching the attention of sportsbook operators, largely thanks to its decision to allow the use of blockchain technology for sports betting transactions.
The federal ban on sports betting was repealed on May 14, 2018, when the United Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). Three years later, some form of sports betting is now regulated in now legalized in 26 states and Washington, D.C.
While most states where sports betting is legal allow for a similar framework, this rapid expansion has seen each jurisdiction attempt to find the perfect formula needed to offer consumers a competitive marketplace while capitalizing off of the taxable revenue.
Interestingly enough it took more than three years for a state to draft legislation that would permit the use of cryptocurrencies.
Continue reading: https://www.forbes.com/sites/zackjones/2021/09/12/blockchain-adoption-the-next-frontier-for-us-sports-betting/?sh=660a93974edf
The federal ban on sports betting was repealed on May 14, 2018, when the United Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). Three years later, some form of sports betting is now regulated in now legalized in 26 states and Washington, D.C.
While most states where sports betting is legal allow for a similar framework, this rapid expansion has seen each jurisdiction attempt to find the perfect formula needed to offer consumers a competitive marketplace while capitalizing off of the taxable revenue.
Interestingly enough it took more than three years for a state to draft legislation that would permit the use of cryptocurrencies.
Continue reading: https://www.forbes.com/sites/zackjones/2021/09/12/blockchain-adoption-the-next-frontier-for-us-sports-betting/?sh=660a93974edf
