NEW YORK, March 5, 2021 /PRNewswire/ — Last year has shaped up to be crucial for the sports betting industry in the United States, as the U.S. gambling industry won big in the election. Three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Before the election, Tennessee became the 19th state where sports betting became effective. However, the law stipulates that 80% of the tax revenue raised from sports betting in Tennessee will go to help fund education; 15% will be allotted for local government infrastructure projects, and 5% will go towards improving mental health in the state, according to a report by the Martinsville Bulletin. Besides the election results, another factor most significant to the boost of the sports betting segment is attributed to the usage of smartphones, which have easy user interfaces and can be used at anytime and anywhere. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy-to-use systems available to the public through partnerships with sports leagues. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Wynn Resorts, Limited (NASDAQ: WYNN), Alphabet Inc. (NASDAQ: GOOG), 888 Holdings plc. (OTC: EIHDF), International Game Technology PLC (NYSE: IGT)
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