Sports wagering initiatives win easily in five states
The results are in, and the people have spoken… and the people want to bet on sports.
The US presidential race might not have been decided on Election Day, but sports gambling proved to be very popular. Voters in four states approved ballot propositions that would legalize some form of wagering – with most of those victories by wide margins – while Colorado agreed to lift maximum betting limits at casinos.
In Maryland, a proposal to legalize sports wagers passed overwhelmingly. Louisiana held a parish-by-parish vote, with 55 of 64 casting their approval. Nebraska agreed to sports betting and some other forms of gambling at racetracks. In South Dakota, sports betting was approved in the legendary town of Deadwood, as well as at tribal casinos.
The task now switches to the various state legislatures, which must craft the framework to carry out the will of the people.
With these results, nearly 50% of US states allow sports gambling in some form.
The stocks of several sports gambling companies were trading higher Wednesday after the big wins Tuesday night.
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