It is three years since the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992, otherwise known as PASPA, and opened the door to regulated US sports betting on a state-by-state basis for the first time. Today, sports betting is now live in 21 US states and was estimated to be worth $1.5bn in annual gross gaming revenue in 2020, leaving plenty of scope for future growth as more states legalize sports wagering.
As the leading global sports betting supplier, Kambi and its senior management team laid the groundwork to become a key player in the nascent US sports betting market long before that historic decision on 14 May 2018. In fact, being action-ready for the US, and maintaining a commitment to the highest levels of corporate probity, was a key reason why Kambi was insistent from day one of its inception more than a decade ago that it would never be active in any black or illegal gambling markets.
Such an approach has stood Kambi in good stead in the US. The company is now live and generating revenue in 14 states, including New Jersey, New York and Pennsylvania, and its partner roster includes some of the biggest names in US sports betting such as DraftKings, Penn National Gaming, Rush Street Interactive, Seneca Gaming Corporation and Churchill Downs.
The US sports betting market has clearly changed substantially in such a short space of time and Kambi is proud to have been at the forefront of its evolution. So, as the industry celebrates the three-year anniversary of PASPA’s repeal, here are some key numbers which exemplify Kambi’s US journey so far: