Michael Rubin, co-owner of the 76ers, is reportedly looking to open a gambling sportsbook in New York. The company is the largest supplier of sporting goods in the United States. It owns most professional league stores and provides branded jerseys for the NBA and NHL. In 2013, New York became the third state to legalize sports betting. This news is welcomed by many NBA and NHL fans. While he may be the first owner of a legal gambling sportsbook, the idea of opening one in a major city is unheard of.
The sportsbook industry has been booming over the last year, with several large companies appearing. The next big player is Betfair, which is unclear when it will launch or if it will stay in New York. The Sports Betting Law was passed in 1992 to legalize the industry. It allows bettors to wager on certain sports. The bill was signed into law in June 2018. Currently, the industry in New Jersey is dominated by online gambling sites.
The state of Tennessee has approved online/mobile sports betting without a retail component. The state is requiring that sportsbooks keep 10% of the bets they accept, compared to a holding of about 7.5% in most jurisdictions. The future of the internet sportsbook industry is being shaped by the Virginia Lottery’s regulation and licensing. This is the first step towards legalizing the online gambling sportsbook industry. The state’s legislation is likely to shape the direction of the industry.